Veeva Systems (NYSE:VEEV) Stock Gets Price Target Boost from Robert W. Baird

Veeva Systems (NYSE:VEEV) had its price target raised by investment analysts at Robert W. Baird from $300.00 to $350.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird‘s price objective points to a potential upside of 8.25% from the company’s previous close.

Other analysts also recently issued research reports about the company. Morgan Stanley boosted their target price on Veeva Systems from $215.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 27th. Wells Fargo & Company reiterated an “overweight” rating and issued a $330.00 price objective on shares of Veeva Systems in a report on Tuesday, September 8th. Citigroup increased their price target on shares of Veeva Systems from $190.00 to $273.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Stifel Nicolaus set a $300.00 target price on shares of Veeva Systems in a report on Thursday, August 27th. Finally, Piper Sandler lifted their price objective on Veeva Systems from $295.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Nineteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $289.88.

Veeva Systems Price Performance

VEEV opened at $323.31 on Monday. Veeva Systems has a one year low of $148.05 and a one year high of $325.99. The company has a fifty day moving average price of $277.66 and a 200-day moving average price of $213.32. The firm has a market capitalization of $52.35 billion, a P/E ratio of 53.18, a price-to-earnings-growth ratio of 1.38 and a beta of 0.93.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $927.96 million for the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.99 EPS. 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, analysts expect that Veeva Systems will post 6.70 earnings per share for the current year.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total value of $195,780.00. Following the sale, the director directly owned 3,242 shares in the company, valued at approximately $846,291.68. The trade was a 18.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jonathan Faddis sold 5,198 shares of the stock in a transaction that occurred 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 transaction, the senior vice president directly owned 4,130 shares of the company’s stock, valued at approximately $1,237,843.60. The trade was a 55.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 56,789 shares of company stock worth $14,913,889. 10.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Veeva Systems

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

About Veeva Systems

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.