Veeva Systems (NYSE:VEEV) Price Target Raised to $360.00

Veeva Systems (NYSE:VEEV) had its target price upped by Truist Financial from $305.00 to $360.00 in a report released on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

VEEV has been the subject of several other reports. Robert W. Baird boosted their price target on Veeva Systems from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, October 26th. Canaccord Genuity Group raised their price objective on Veeva Systems from $220.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 27th. Royal Bank Of Canada lifted their target price on Veeva Systems from $325.00 to $365.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. TD Cowen boosted their target price on shares of Veeva Systems from $235.00 to $283.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Finally, Raymond James Financial boosted their target price on shares of Veeva Systems from $225.00 to $330.00 in a report on Thursday, August 27th. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $317.42.

Veeva Systems Stock Down 0.2%

Shares of VEEV stock opened at $304.94 on Monday. The firm has a market cap of $49.37 billion, a price-to-earnings ratio of 49.36, a PEG ratio of 1.30 and a beta of 0.89. Veeva Systems has a 52-week low of $148.05 and a 52-week high of $325.99. The company’s 50 day moving average is $290.75 and its 200 day moving average is $213.20.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $927.96 million during the quarter, compared to analyst estimates of $905.38 million. Veeva Systems had a return on equity of 14.25% and a net margin of 29.34%. Veeva Systems’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.99 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. Analysts anticipate that Veeva Systems will post 6.70 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 5,198 shares of Veeva Systems stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $299.72, for a total value of $1,557,944.56. Following the completion of the sale, the senior vice president directly owned 4,130 shares in the company, valued at $1,237,843.60. This trade represents a 55.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas D. Schwenger sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $281.33, for a total transaction of $2,813,300.00. Following the sale, the insider directly owned 19,449 shares in the company, valued at approximately $5,471,587.17. This represents a 33.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 20,789 shares of company stock worth $5,905,609. 10.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Wealth Asset Management LLC lifted its stake in shares of Veeva Systems by 4,300.0% during the third quarter. Private Wealth Asset Management LLC now owns 3,300 shares of the technology company’s stock worth $1,002,000 after buying an additional 3,225 shares during the period. Private Advisor Group LLC increased its position in shares of Veeva Systems by 86.8% in the 3rd quarter. Private Advisor Group LLC now owns 4,652 shares of the technology company’s stock valued at $1,328,000 after acquiring an additional 2,162 shares during the period. Taylor Hoffman Capital Management LLC acquired a new position in shares of Veeva Systems in the 3rd quarter valued at $302,000. Ieq Capital LLC increased its position in shares of Veeva Systems by 7.0% in the 3rd quarter. Ieq Capital LLC now owns 88,582 shares of the technology company’s stock valued at $25,285,000 after acquiring an additional 5,807 shares during the period. Finally, Focus Advisor Solutions LLC raised its stake in Veeva Systems by 117.6% in the 3rd quarter. Focus Advisor Solutions LLC now owns 15,759 shares of the technology company’s stock worth $4,499,000 after acquiring an additional 8,518 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc. develops cloud-based software, data and consulting services for the life sciences industry. Its customers include pharmaceutical and biotechnology companies, medical device makers and contract research organizations. The company’s products support commercial operations as well as clinical, regulatory, quality and safety activities. Its offerings include Veeva Vault applications for managing documents and business processes, customer relationship management software, and data and analytics services.