Veeva Systems (NYSE:VEEV) Now Covered by Analysts at Guggenheim

Guggenheim assumed coverage on shares of Veeva Systems (NYSE:VEEV) in a report released on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $232.00 price objective on the technology company’s stock.

Several other research firms have also recently commented on VEEV. UBS Group cut their target price on shares of Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Needham & Company LLC restated a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Zacks Research downgraded shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. TD Cowen reaffirmed a “buy” rating on shares of Veeva Systems in a research report on Thursday, June 4th. Finally, Citigroup increased their target price on shares of Veeva Systems from $176.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Nineteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.08.

Veeva Systems Stock Down 2.8%

Shares of NYSE:VEEV opened at $179.36 on Thursday. The company has a market cap of $29.14 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 0.79 and a beta of 0.94. The business has a 50 day moving average price of $174.05 and a 200 day moving average price of $181.57. Veeva Systems has a twelve month low of $148.05 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.14 by $0.10. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The company had revenue of $882.95 million for the quarter, compared to the consensus estimate of $857.73 million. During the same period in the previous year, the business posted $1.97 EPS. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Analysts anticipate that Veeva Systems will post 6.65 EPS for the current year.

Insiders Place Their Bets

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the sale, the director owned 3,253 shares of the company’s stock, valued at $506,296.92. The trade was a 18.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by corporate insiders.

Institutional Trading of Veeva Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. raised its holdings in Veeva Systems by 11.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 892,070 shares of the technology company’s stock worth $199,137,000 after purchasing an additional 90,703 shares during the last quarter. Empire Life Investments Inc. boosted its stake in shares of Veeva Systems by 21.1% in the 4th quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock valued at $8,272,000 after purchasing an additional 6,453 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Veeva Systems by 217.2% during the 4th quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock worth $2,337,000 after buying an additional 7,169 shares during the period. Pictet Asset Management Holding SA grew its position in shares of Veeva Systems by 14.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock worth $247,817,000 after buying an additional 137,965 shares during the period. Finally, KBC Group NV raised its stake in shares of Veeva Systems by 180.2% during the fourth quarter. KBC Group NV now owns 201,140 shares of the technology company’s stock worth $44,900,000 after buying an additional 129,346 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

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.