Veeva Systems (NYSE:VEEV) Stock Gets Price Target Boost from Barclays

Veeva Systems (NYSE:VEEV) had its price target hoisted by analysts at Barclays from $360.00 to $375.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 18.75% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group reissued a “buy” rating and issued a $295.00 target price on shares of Veeva Systems in a report on Thursday, August 27th. Truist Financial upped their price target on shares of Veeva Systems from $262.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. BMO Capital Markets upped their price target on shares of Veeva Systems from $175.00 to $270.00 and gave the stock a “market perform” rating in a research report on Thursday, August 27th. Mizuho increased their price objective on shares of Veeva Systems from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Finally, Wall Street Zen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.50.

Veeva Systems Stock Up 0.7%

VEEV traded up $2.34 during midday trading on Wednesday, reaching $315.80. The company had a trading volume of 560,150 shares, compared to its average volume of 2,287,674. The business has a 50-day moving average of $280.05 and a two-hundred day moving average of $208.66. The company has a market cap of $51.13 billion, a P/E ratio of 51.94 and a beta of 0.93. Veeva Systems has a 1 year low of $148.05 and a 1 year high of $325.99.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. The company had revenue of $927.96 million during the quarter, compared to the consensus estimate of $905.38 million. During the same period last year, the business earned $1.99 EPS. The firm’s quarterly revenue was up 17.6% compared to the same quarter last year. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. On average, equities research analysts predict that Veeva Systems will post 6.70 EPS for the current year.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 5,198 shares of Veeva Systems stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total value of $1,557,944.56. Following the sale, the senior vice president directly owned 4,130 shares in the company, valued at approximately $1,237,843.60. The trade was a 55.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Daniel J. Rizzo sold 4,841 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $276.51, for a total transaction of $1,338,584.91. Following the completion of the sale, the executive vice president owned 7,665 shares in the company, valued at approximately $2,119,449.15. The trade was a 38.71% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 56,789 shares of company stock valued at $14,913,889. Corporate insiders own 10.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Farmers & Merchants Investments Inc. lifted its position in Veeva Systems by 181.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 93 shares of the technology company’s stock valued at $27,000 after purchasing an additional 60 shares during the last quarter. Burkett Financial Services LLC bought a new stake in Veeva Systems during the 3rd quarter valued at about $27,000. Pension & Wealth Management Advisors Inc. purchased a new position in Veeva Systems during the 3rd quarter worth $38,000. Lodestone Wealth Management LLC raised its holdings in shares of Veeva Systems by 68.3% in the third quarter. Lodestone Wealth Management LLC now owns 138 shares of the technology company’s stock valued at $39,000 after acquiring an additional 56 shares in the last quarter. Finally, Compass Financial Management LLC bought a new position in Veeva Systems in the second quarter worth approximately $27,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc is a cloud software company that develops technology for the life sciences industry. Its customers include pharmaceutical, biotechnology, medical device and other healthcare companies that use Veeva’s applications to manage commercial, clinical, regulatory, quality and operational processes.

The company’s Veeva Vault platform provides cloud applications for areas such as clinical data management, electronic trial management, regulatory information, quality management, safety and content management.