Veeva Systems (NYSE:VEEV) Stock Rating Upgraded by Guggenheim

Veeva Systems (NYSE:VEEV) was upgraded by Guggenheim to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on VEEV. UBS Group decreased their target price on Veeva Systems from $220.00 to $190.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Barclays dropped their price target on Veeva Systems from $250.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. BNP Paribas Exane reissued an “outperform” rating and issued a $285.00 price objective on shares of Veeva Systems in a research note on Thursday, June 4th. Zacks Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $275.00 target price on shares of Veeva Systems in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $247.08.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $179.36 on Wednesday. The company has a market cap of $29.14 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 0.79 and a beta of 0.94. Veeva Systems has a 52 week low of $148.05 and a 52 week high of $310.50. The firm has a 50 day simple moving average of $174.05 and a 200 day simple moving average of $181.57.

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

Insider Buying and Selling at Veeva Systems

In related news, Director Priscilla Hung sold 750 shares of Veeva Systems stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $155.64, for a total value of $116,730.00. Following the completion of the sale, the director owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. The trade was a 18.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.60% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

Several hedge funds have recently bought and sold shares of VEEV. Sivia Capital Partners LLC increased its holdings in shares of Veeva Systems by 225.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company’s stock valued at $899,000 after acquiring an additional 2,164 shares during the last quarter. Bank of Nova Scotia raised its stake in shares of Veeva Systems by 44.5% in the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company’s stock valued at $1,689,000 after acquiring an additional 1,806 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Veeva Systems by 34.6% in the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company’s stock worth $2,543,000 after purchasing an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in Veeva Systems by 2.2% in the 2nd quarter. Treasurer of the State of North Carolina now owns 68,950 shares of the technology company’s stock worth $19,856,000 after purchasing an additional 1,452 shares during the last quarter. Finally, Diversify Wealth Management LLC boosted its position in Veeva Systems by 5.3% during the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company’s stock worth $3,140,000 after purchasing an additional 575 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

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.