Veeva Systems (NYSE:VEEV) Research Coverage Started at BMO Capital Markets

BMO Capital Markets began coverage on shares of Veeva Systems (NYSE:VEEV) in a research report report published on Thursday, MarketBeat Ratings reports. The firm issued a market perform rating and a $300.00 target price on the technology company’s stock.

A number of other brokerages also recently commented on VEEV. UBS Group lifted their price objective on Veeva Systems from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Truist Financial lifted their price target on Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a report on Thursday, August 28th. Raymond James Financial reiterated an “outperform” rating and set a $340.00 price objective (up from $310.00) on shares of Veeva Systems in a report on Thursday, August 28th. TD Cowen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $297.00 to $380.00 in a report on Tuesday, October 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $325.00 price target on shares of Veeva Systems in a research note on Thursday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $307.28.

Veeva Systems Stock Up 0.5%

VEEV opened at $293.24 on Thursday. The firm has a market cap of $48.06 billion, a P/E ratio of 60.21, a PEG ratio of 2.22 and a beta of 0.98. The business’s fifty day simple moving average is $288.89 and its 200 day simple moving average is $277.67. Veeva Systems has a 52 week low of $201.54 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 27th. The technology company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.64). The firm had revenue of $789.08 million for the quarter, compared to analyst estimates of $768.49 million. Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.Veeva Systems’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 earnings per share. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. As a group, equities analysts expect that Veeva Systems will post 4.35 EPS for the current fiscal year.

Insider Activity

In related news, insider Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total value of $1,839,720.00. Following the completion of the sale, the insider owned 25,325 shares in the company, valued at approximately $7,765,151.50. The trade was a 19.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas D. Schwenger sold 3,350 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the completion of the sale, the insider directly owned 23,773 shares in the company, valued at $7,132,850.92. This represents a 12.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 24,665 shares of company stock worth $7,438,000. 10.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Veeva Systems

Several large investors have recently modified their holdings of the stock. Creative Planning raised its stake in Veeva Systems by 60.1% during the third quarter. Creative Planning now owns 66,084 shares of the technology company’s stock valued at $19,687,000 after buying an additional 24,800 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Veeva Systems by 99.0% in the 3rd quarter. Lazard Asset Management LLC now owns 108,771 shares of the technology company’s stock worth $32,404,000 after acquiring an additional 54,101 shares in the last quarter. Durable Capital Partners LP increased its holdings in shares of Veeva Systems by 28.9% in the 3rd quarter. Durable Capital Partners LP now owns 1,258,853 shares of the technology company’s stock valued at $375,025,000 after acquiring an additional 281,872 shares during the last quarter. SummitTX Capital L.P. bought a new stake in shares of Veeva Systems in the 3rd quarter valued at approximately $536,000. Finally, AQR Capital Management LLC raised its position in shares of Veeva Systems by 31.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock valued at $706,078,000 after acquiring an additional 574,164 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.