Veeva Systems (NYSE:VEEV) Upgraded to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of Veeva Systems (NYSE:VEEV) from an underweight rating to an equal weight rating in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has $205.00 target price on the technology company’s stock, down from their previous target price of $222.00.

A number of other analysts have also recently weighed in on the stock. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Veeva Systems in a report on Tuesday, November 25th. Barclays dropped their price target on shares of Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. BMO Capital Markets started coverage on Veeva Systems in a research report on Thursday, November 13th. They set a “market perform” rating and a $300.00 price objective for the company. KeyCorp restated a “sector weight” rating on shares of Veeva Systems in a research report on Friday, December 12th. Finally, Robert W. Baird lifted their target price on Veeva Systems from $314.00 to $319.00 and gave the company an “outperform” rating in a research note on Friday, November 21st. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $307.33.

Veeva Systems Stock Up 1.5%

Shares of VEEV stock opened at $176.79 on Tuesday. The company has a market cap of $29.06 billion, a P/E ratio of 34.40, a PEG ratio of 1.21 and a beta of 1.08. The business has a 50 day moving average of $213.75 and a two-hundred day moving average of $255.85. Veeva Systems has a 52 week low of $168.13 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, November 20th. The technology company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.09. The business had revenue of $0.81 million for the quarter, compared to the consensus estimate of $792.37 million. Veeva Systems had a return on equity of 13.68% and a net margin of 27.93%.The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business posted $1.75 EPS. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS and its Q4 2026 guidance at 1.920-1.920 EPS. Analysts expect that Veeva Systems will post 4.35 EPS for the current fiscal year.

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

Insider Activity at Veeva Systems

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

Hedge Funds Weigh In On Veeva Systems

Several large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Veeva Systems during the 4th quarter worth approximately $332,412,000. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Veeva Systems in the third quarter worth $422,241,000. Durable Capital Partners LP purchased a new position in shares of Veeva Systems during the second quarter valued at $281,351,000. AQR Capital Management LLC raised its position in Veeva Systems by 111.7% during the second quarter. AQR Capital Management LLC now owns 1,838,046 shares of the technology company’s stock valued at $526,508,000 after buying an additional 969,905 shares during the period. Finally, Schroder Investment Management Group lifted its stake in Veeva Systems by 1,039.4% in the 2nd quarter. Schroder Investment Management Group now owns 1,014,974 shares of the technology company’s stock worth $292,292,000 after acquiring an additional 925,896 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

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.