Veeva Systems (VEEV) – Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Veeva Systems (NYSE: VEEV) recently:

• 11/9/2024 – Veeva Systems was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/8/2024 – Veeva Systems had its price target raised by analysts at Barclays PLC from $240.00 to $260.00. They now have an “overweight” rating on the stock.
• 11/8/2024 – Veeva Systems had its price target raised by analysts at Piper Sandler from $230.00 to $280.00. They now have an “overweight” rating on the stock.
• 11/8/2024 – Veeva Systems had its price target raised by analysts at Royal Bank of Canada from $250.00 to $275.00. They now have an “outperform” rating on the stock.
• 11/8/2024 – Veeva Systems had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $260.00 price target on the stock.
• 11/1/2024 – Veeva Systems was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/28/2024 – Veeva Systems had its price target lowered by analysts at Robert W. Baird from $251.00 to $245.00. They now have an “outperform” rating on the stock.
• 10/8/2024 – Veeva Systems is now covered by analysts at BNP Paribas. They set an “outperform” rating and a $286.00 price target on the stock.
• 10/1/2024 – Veeva Systems had its price target raised by analysts at Guggenheim from $233.00 to $249.00. They now have a “buy” rating on the stock.

Veeva Systems Stock Down 0.2 %

NYSE:VEEV traded down $0.48 on Thursday, reaching $232.71. 391,155 shares of the company’s stock traded hands, compared to its average volume of 940,664. The stock has a 50-day simple moving average of $215.14 and a 200-day simple moving average of $200.49. Veeva Systems Inc. has a 12 month low of $165.12 and a 12 month high of $240.68. The firm has a market cap of $37.68 billion, a PE ratio of 62.06, a P/E/G ratio of 2.28 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The business had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. On average, equities analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VEEV. Rockefeller Capital Management L.P. boosted its stake in shares of Veeva Systems by 1.1% during the third quarter. Rockefeller Capital Management L.P. now owns 39,883 shares of the technology company’s stock valued at $8,370,000 after purchasing an additional 430 shares during the period. Spyglass Capital Management LLC lifted its holdings in Veeva Systems by 6.4% during the 3rd quarter. Spyglass Capital Management LLC now owns 224,143 shares of the technology company’s stock valued at $47,041,000 after buying an additional 13,537 shares in the last quarter. Vinva Investment Management Ltd boosted its position in Veeva Systems by 9.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 6,767 shares of the technology company’s stock valued at $1,427,000 after buying an additional 556 shares during the period. Fiduciary Trust Co grew its stake in Veeva Systems by 0.9% in the 3rd quarter. Fiduciary Trust Co now owns 8,289 shares of the technology company’s stock worth $1,740,000 after acquiring an additional 71 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Veeva Systems by 17.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 77,653 shares of the technology company’s stock worth $16,297,000 after acquiring an additional 11,433 shares during the period. Institutional investors own 88.20% of the company’s stock.

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.