Veeva Systems Inc. (NYSE:VEEV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV) have earned an average rating of “Moderate Buy” from the twenty-five analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $283.6957.

Several research analysts recently commented on VEEV shares. Needham & Company LLC dropped their price objective on Veeva Systems from $355.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. The Goldman Sachs Group began coverage on Veeva Systems in a research note on Tuesday, January 13th. They issued a “sell” rating and a $215.00 price objective on the stock. KeyCorp restated a “sector weight” rating on shares of Veeva Systems in a research note on Friday, December 12th. Wall Street Zen lowered Veeva Systems from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Royal Bank Of Canada dropped their price objective on Veeva Systems from $330.00 to $275.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $231.43, for a total value of $231,430.00. Following the completion of the sale, the insider directly owned 23,204 shares in the company, valued at $5,370,101.72. The trade was a 4.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors have recently made changes to their positions in VEEV. Jensen Investment Management Inc. increased its stake in Veeva Systems by 1,924.5% during the 3rd quarter. Jensen Investment Management Inc. now owns 413,213 shares of the technology company’s stock worth $123,100,000 after acquiring an additional 392,802 shares during the period. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 11.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock valued at $1,146,040,000 after purchasing an additional 388,864 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in shares of Veeva Systems in the 3rd quarter valued at $422,241,000. Compass Wealth Management LLC bought a new position in shares of Veeva Systems in the 3rd quarter valued at $18,694,000. Finally, ABN AMRO Bank N.V. bought a new position in shares of Veeva Systems in the 3rd quarter valued at $246,625,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Price Performance

VEEV stock opened at $172.40 on Wednesday. The stock has a market capitalization of $28.16 billion, a P/E ratio of 31.87, a P/E/G ratio of 1.15 and a beta of 1.10. The business has a 50-day moving average of $183.66 and a 200-day moving average of $231.84. Veeva Systems has a fifty-two week low of $168.13 and a fifty-two week high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, March 4th. The technology company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.12. Veeva Systems had a return on equity of 13.80% and a net margin of 28.44%.The company had revenue of $835.95 million during the quarter, compared to analysts’ expectations of $810.95 million. During the same period in the prior year, the firm earned $1.74 earnings per share. Veeva Systems’s revenue for the quarter was up 16.0% compared to the same quarter last year. 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 expect that Veeva Systems will post 4.35 EPS for the current year.

Veeva Systems declared that its Board of Directors has authorized a share buyback program on Monday, January 5th that permits the company to buyback $2.00 billion in outstanding 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 typically an indication that the company’s management believes its shares are undervalued.

About Veeva Systems

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.