Veeva Systems (NYSE:VEEV) Given New $275.00 Price Target at Barclays

Veeva Systems (NYSE:VEEV) had its price objective boosted by stock analysts at Barclays from $235.00 to $275.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would indicate a potential upside of 12.01% from the company’s current price.

VEEV has been the topic of a number of other reports. Weiss Ratings upgraded Veeva Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Canaccord Genuity Group lowered their price target on shares of Veeva Systems from $235.00 to $220.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. Royal Bank Of Canada restated an “outperform” rating and set a $275.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. BMO Capital Markets dropped their price target on shares of Veeva Systems from $220.00 to $175.00 and set a “market perform” rating on the stock in a research note on Thursday, June 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Thursday, June 4th. One equities research 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 company. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average price target of $253.75.

Veeva Systems Price Performance

NYSE:VEEV opened at $245.50 on Tuesday. The business has a fifty day simple moving average of $191.38 and a two-hundred day simple moving average of $180.68. Veeva Systems has a 1 year low of $148.05 and a 1 year high of $310.50. The company has a market capitalization of $39.88 billion, a P/E ratio of 43.77, a P/E/G ratio of 1.05 and a beta of 0.92.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. The firm had revenue of $882.95 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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. As a group, analysts anticipate that Veeva Systems will post 6.65 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $250.23, for a total transaction of $9,008,280.00. Following the sale, the insider directly owned 19,449 shares in the company, valued at $4,866,723.27. This represents a 64.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Veeva Systems

Several hedge funds have recently bought and sold shares of the company. Empire Life Investments Inc. grew its position in Veeva Systems by 21.1% during the fourth quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock worth $8,272,000 after buying an additional 6,453 shares in the last quarter. Czech National Bank purchased a new stake in shares of Veeva Systems in the 2nd quarter valued at about $7,584,000. Pictet Asset Management Holding SA boosted its position in shares of Veeva Systems by 14.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock valued at $247,817,000 after acquiring an additional 137,965 shares during the last quarter. BNP Paribas grew its holdings in shares of Veeva Systems by 89.3% during the fourth quarter. BNP Paribas now owns 19,239 shares of the technology company’s stock worth $4,308,000 after purchasing an additional 9,077 shares in the last quarter. Finally, ABN Amro Investment Solutions grew its holdings in shares of Veeva Systems by 28.4% during the fourth quarter. ABN Amro Investment Solutions now owns 76,809 shares of the technology company’s stock worth $17,146,000 after purchasing an additional 17,007 shares in the last quarter. Hedge funds and other institutional investors 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.