Veeva Systems (NYSE:VEEV) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Veeva Systems (NYSE:VEEV) from a buy rating to a hold rating in a research note published on Monday.

A number of other research firms also recently weighed in on VEEV. TD Cowen reaffirmed a “buy” rating on shares of Veeva Systems in a research report on Thursday, June 4th. Evercore reissued an “outperform” rating and set a $185.00 price target on shares of Veeva Systems in a research report on Thursday, June 4th. Oppenheimer restated an “outperform” rating on shares of Veeva Systems in a research note on Monday, July 20th. Wells Fargo & Company raised their price objective on Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Finally, Barclays decreased their price objective on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $247.08.

Veeva Systems Stock Performance

NYSE VEEV opened at $213.35 on Monday. The stock has a market capitalization of $34.66 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 0.91 and a beta of 0.92. The stock’s 50 day moving average price is $181.64 and its two-hundred day moving average price is $179.80. Veeva Systems has a 52 week low of $148.05 and a 52 week high of $310.50.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The firm had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The business’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.97 EPS. 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. On average, equities research analysts forecast that Veeva Systems will post 6.65 EPS for the current year.

Institutional Trading of Veeva Systems

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,141,545 shares of the technology company’s stock worth $727,513,000 after purchasing an additional 271,252 shares during the last quarter. State Street Corp grew its holdings in Veeva Systems by 2.4% during the fourth quarter. State Street Corp now owns 3,589,425 shares of the technology company’s stock worth $801,267,000 after purchasing an additional 85,695 shares during the period. Geode Capital Management LLC grew its holdings in Veeva Systems by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,172,716 shares of the technology company’s stock worth $706,442,000 after purchasing an additional 23,117 shares during the period. AQR Capital Management LLC increased its position in Veeva Systems by 31.2% during the third quarter. AQR Capital Management LLC now owns 2,412,210 shares of the technology company’s stock worth $706,078,000 after buying an additional 574,164 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Veeva Systems by 12.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,728,089 shares of the technology company’s stock worth $385,761,000 after buying an additional 189,093 shares during the last quarter. Institutional investors and hedge funds 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.