Veeva Systems Inc. (NYSE:VEEV) Receives $283.70 Average PT from Analysts

Veeva Systems Inc. (NYSE:VEEV) has received a consensus recommendation of “Moderate Buy” from the twenty-five research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $283.6957.

VEEV has been the subject of a number of recent research reports. TD Cowen dropped their target price on Veeva Systems from $380.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Wells Fargo & Company decreased their price target on Veeva Systems from $333.00 to $317.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. William Blair reiterated an “outperform” rating on shares of Veeva Systems in a research report on Tuesday, March 10th. JPMorgan Chase & Co. dropped their price objective on Veeva Systems from $330.00 to $296.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Finally, Needham & Company LLC cut their target price on shares of Veeva Systems from $355.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,000 shares of Veeva Systems stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $231.43, for a total transaction of $231,430.00. Following the completion of the sale, the insider owned 23,204 shares of the company’s stock, valued at approximately $5,370,101.72. The trade was a 4.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.30% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

Institutional investors have recently modified their holdings of the stock. GPS Wealth Strategies Group LLC boosted its position in shares of Veeva Systems by 196.4% during the third quarter. GPS Wealth Strategies Group LLC now owns 83 shares of the technology company’s stock worth $25,000 after purchasing an additional 55 shares in the last quarter. SHP Wealth Management acquired a new position in Veeva Systems in the fourth quarter valued at about $26,000. Board of the Pension Protection Fund bought a new stake in shares of Veeva Systems in the fourth quarter worth about $27,000. Raiffeisen Bank International AG bought a new stake in shares of Veeva Systems in the third quarter worth about $28,000. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Veeva Systems by 322.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after purchasing an additional 100 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Price Performance

NYSE VEEV opened at $185.49 on Friday. The firm has a market cap of $30.49 billion, a PE ratio of 34.29, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. Veeva Systems has a one year low of $168.13 and a one year high of $310.50. The stock’s 50 day simple moving average is $199.10 and its 200 day simple moving average is $242.72.

Veeva Systems (NYSE:VEEV) last announced its earnings results 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. The company had revenue of $835.95 million during the quarter, compared to analyst estimates of $810.95 million. Veeva Systems had a return on equity of 14.11% and a net margin of 28.44%.The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $1.74 earnings per share. Veeva Systems has set its FY 2027 guidance at 8.850- EPS and its Q1 2027 guidance at 2.130-2.14 EPS. As a group, equities analysts expect that Veeva Systems will post 4.35 earnings per share for the current year.

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