Veeva Systems (NYSE:VEEV) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Veeva Systems (NYSE:VEEV – Free Report) from a hold rating to a buy rating in a research report released on Saturday.

VEEV has been the topic of a number of other reports. William Blair restated an “outperform” rating on shares of Veeva Systems in a report on Tuesday, March 10th. Piper Sandler lowered their price target on shares of Veeva Systems from $355.00 to $285.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Needham & Company LLC cut their price objective on shares of Veeva Systems from $355.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Morgan Stanley upped their price objective on shares of Veeva Systems from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Veeva Systems from $330.00 to $296.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Seventeen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $283.70.

Check Out Our Latest Research Report on VEEV

Veeva Systems Trading Up 3.7%

NYSE VEEV opened at $185.49 on Friday. The business’s 50 day moving average is $199.10 and its two-hundred day moving average is $242.72. The stock has a market capitalization of $30.49 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 1.19 and a beta of 1.09. Veeva Systems has a 12-month low of $168.13 and a 12-month high of $310.50.

Veeva Systems (NYSE:VEEV – Get Free Report) last issued its earnings results on Wednesday, March 4th. The technology company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The company had revenue of $835.95 million during the quarter, compared to analysts’ expectations of $810.95 million. Veeva Systems had a net margin of 28.44% and a return on equity of 14.11%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. Equities analysts forecast that Veeva Systems will post 4.35 earnings per share for the current fiscal year.

Veeva Systems announced that its Board of Directors has initiated a share buyback program on Monday, January 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the technology company to buy up to 5.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total value of $231,430.00. Following the transaction, the insider owned 23,204 shares in the company, valued at approximately $5,370,101.72. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 10.30% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Several large investors have recently made changes to their positions in VEEV. GPS Wealth Strategies Group LLC boosted its position in Veeva Systems by 196.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after purchasing an additional 55 shares during the period. SHP Wealth Management acquired a new stake in Veeva Systems in the 4th quarter valued at $26,000. Board of the Pension Protection Fund purchased a new position in Veeva Systems in the fourth quarter valued at about $27,000. Raiffeisen Bank International AG purchased a new position in Veeva Systems in the third quarter valued at about $28,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

About Veeva Systems

(Get Free Report)

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.

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