Veeva Systems (NYSE:VEEV) Raised to Buy at Wall Street Zen

Veeva Systems (NYSE:VEEV) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also commented on VEEV. Canaccord Genuity Group decreased their price target on Veeva Systems from $280.00 to $235.00 and set a “hold” rating on the stock in a research note on Thursday, March 5th. Weiss Ratings cut Veeva Systems from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. The Goldman Sachs Group assumed coverage on shares of Veeva Systems in a research note on Tuesday, January 13th. They issued a “sell” rating and a $215.00 target price on the stock. Barclays lowered their target price on shares of Veeva Systems from $305.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, Truist Financial reiterated a “buy” rating and set a $262.00 target price (down from $275.00) on shares of Veeva Systems in a research report on Thursday, March 5th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $283.70.

Veeva Systems Stock Down 1.2%

NYSE:VEEV opened at $178.68 on Friday. The firm has a market capitalization of $29.37 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09. Veeva Systems has a 12-month low of $168.13 and a 12-month high of $310.50. The firm has a 50-day moving average price of $199.82 and a 200 day moving average price of $243.99.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The company had revenue of $835.95 million for the quarter, compared to the consensus estimate of $810.95 million. During the same period in the previous year, the business earned $1.74 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. On average, research analysts expect that Veeva Systems will post 4.35 EPS for the current year.

Veeva Systems declared that its Board of Directors has initiated a stock buyback plan on Monday, January 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology company to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Thomas D. Schwenger sold 1,000 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total transaction of $231,430.00. Following the sale, the insider owned 23,204 shares in the company, valued at approximately $5,370,101.72. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC increased its position in Veeva Systems by 10.3% in the 4th quarter. Corient Private Wealth LLC now owns 162,711 shares of the technology company’s stock valued at $36,339,000 after acquiring an additional 15,244 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Veeva Systems by 25.2% in the fourth quarter. Hsbc Holdings PLC now owns 198,902 shares of the technology company’s stock worth $44,481,000 after acquiring an additional 39,983 shares during the last quarter. AG Campbell Advisory LLC acquired a new position in shares of Veeva Systems during the fourth quarter worth approximately $148,000. Rehmann Capital Advisory Group lifted its position in shares of Veeva Systems by 10.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,656 shares of the technology company’s stock worth $371,000 after purchasing an additional 161 shares in the last quarter. Finally, SHP Wealth Management bought a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $26,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Company Profile

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.