Veeva Systems (NYSE:VEEV) Price Target Cut to $280.00 by Analysts at Canaccord Genuity Group

Veeva Systems (NYSE:VEEV) had its price objective lowered by Canaccord Genuity Group from $300.00 to $280.00 in a research note released on Friday,Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Veeva Systems in a research report on Friday, October 17th. Barclays decreased their target price on Veeva Systems from $325.00 to $305.00 and set an “overweight” rating on the stock in a research report on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Veeva Systems in a report on Wednesday, October 8th. Truist Financial upped their price objective on Veeva Systems from $268.00 to $275.00 and gave the company a “hold” rating in a research note on Thursday, August 28th. Finally, Morgan Stanley raised their target price on Veeva Systems from $210.00 to $222.00 and gave the stock an “underweight” rating in a research report on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $305.84.

Veeva Systems Price Performance

VEEV stock traded down $26.52 during midday trading on Friday, reaching $243.98. 4,902,806 shares of the company were exchanged, compared to its average volume of 1,306,488. The business has a 50-day moving average price of $287.74 and a two-hundred day moving average price of $278.52. Veeva Systems has a one year low of $201.54 and a one year high of $310.50. The firm has a market capitalization of $39.99 billion, a price-to-earnings ratio of 50.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.09. The company had revenue of $811.24 million for the quarter, compared to analyst estimates of $792.37 million. Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 earnings per share. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS. Q4 2026 guidance at 1.920-1.920 EPS. As a group, analysts anticipate that Veeva Systems will post 4.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $298.12, for a total value of $214,646.40. Following the completion of the sale, the senior vice president directly owned 7,868 shares in the company, valued at approximately $2,345,608.16. This trade represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 3,350 shares of Veeva Systems stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the completion of the sale, the insider directly owned 23,773 shares of the company’s stock, valued at approximately $7,132,850.92. This trade represents a 12.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 24,665 shares of company stock worth $7,438,000. 10.30% of the stock is owned by corporate insiders.

Institutional Trading of Veeva Systems

Several large investors have recently made changes to their positions in the company. ASR Vermogensbeheer N.V. grew its stake in shares of Veeva Systems by 64.2% in the second quarter. ASR Vermogensbeheer N.V. now owns 5,167 shares of the technology company’s stock worth $1,488,000 after purchasing an additional 2,020 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in Veeva Systems by 15.7% in the 2nd quarter. QRG Capital Management Inc. now owns 12,771 shares of the technology company’s stock worth $3,678,000 after buying an additional 1,735 shares during the period. Merit Financial Group LLC lifted its holdings in Veeva Systems by 12.5% in the 2nd quarter. Merit Financial Group LLC now owns 45,247 shares of the technology company’s stock worth $13,030,000 after buying an additional 5,042 shares during the period. Penserra Capital Management LLC grew its position in shares of Veeva Systems by 409.4% in the 2nd quarter. Penserra Capital Management LLC now owns 3,693 shares of the technology company’s stock worth $1,062,000 after buying an additional 2,968 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Veeva Systems by 9.3% during the second quarter. Nordea Investment Management AB now owns 391,273 shares of the technology company’s stock valued at $110,832,000 after buying an additional 33,378 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.