Veeva Systems (VEEV) – Investment Analysts’ Recent Ratings Updates

Veeva Systems (NYSE: VEEV) has recently received a number of price target changes and ratings updates:

• 4/2/2024 – Veeva Systems was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/2/2024 – Veeva Systems had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $260.00 price target on the stock.
• 3/27/2024 – Veeva Systems had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $250.00 price target on the stock.
• 3/26/2024 – Veeva Systems had its “outperform” rating reaffirmed by analysts at Raymond James. They now have a $260.00 price target on the stock.
• 3/13/2024 – Veeva Systems had its price target raised by analysts at JPMorgan Chase & Co. from $183.00 to $222.00. They now have a “neutral” rating on the stock.
• 3/13/2024 – Veeva Systems was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 3/5/2024 – Veeva Systems had its price target raised by analysts at KeyCorp from $232.00 to $250.00. They now have an “overweight” rating on the stock.
• 3/4/2024 – Veeva Systems was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 3/4/2024 – Veeva Systems had its price target raised by analysts at Jefferies Financial Group Inc. from $225.00 to $270.00. They now have a “buy” rating on the stock.
• 3/1/2024 – Veeva Systems had its price target raised by analysts at Piper Sandler from $220.00 to $245.00. They now have an “overweight” rating on the stock.
• 3/1/2024 – Veeva Systems had its price target raised by analysts at Barclays PLC from $240.00 to $245.00. They now have an “overweight” rating on the stock.
• 3/1/2024 – Veeva Systems had its price target raised by analysts at Robert W. Baird from $245.00 to $251.00. They now have an “outperform” rating on the stock.
• 3/1/2024 – Veeva Systems had its price target raised by analysts at Truist Financial Co. from $187.00 to $203.00. They now have a “hold” rating on the stock.
• 3/1/2024 – Veeva Systems had its price target raised by analysts at Citigroup Inc. from $240.00 to $264.00. They now have a “buy” rating on the stock.
• 3/1/2024 – Veeva Systems had its price target raised by analysts at The Goldman Sachs Group, Inc. from $219.00 to $248.00. They now have a “buy” rating on the stock.
• 3/1/2024 – Veeva Systems had its price target raised by analysts at Stifel Nicolaus from $205.00 to $250.00. They now have a “buy” rating on the stock.
• 3/1/2024 – Veeva Systems had its price target raised by analysts at Needham & Company LLC from $220.00 to $260.00. They now have a “buy” rating on the stock.
• 2/26/2024 – Veeva Systems had its price target raised by analysts at UBS Group AG from $185.00 to $235.00. They now have a “neutral” rating on the stock.
• 2/23/2024 – Veeva Systems had its price target raised by analysts at Barclays PLC from $220.00 to $240.00. They now have an “overweight” rating on the stock.
• 2/22/2024 – Veeva Systems had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $225.00 price target on the stock.

Veeva Systems Stock Up 0.5 %

VEEV traded up $1.04 during trading on Thursday, hitting $211.96. 626,693 shares of the company’s stock were exchanged, compared to its average volume of 977,581. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90. The stock has a market cap of $34.19 billion, a P/E ratio of 65.83, a PEG ratio of 2.17 and a beta of 0.74. The business’s 50 day moving average is $222.26 and its two-hundred day moving average is $202.79.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The business had revenue of $630.62 million for the quarter, compared to analysts’ expectations of $620.75 million. On average, sell-side analysts forecast that Veeva Systems Inc. will post 4.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Alan Mateo sold 910 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total value of $186,295.20. Following the transaction, the executive vice president now owns 21,983 shares in the company, valued at $4,500,359.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CMO Eleni Nitsa Zuppas sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $204.75, for a total value of $614,250.00. Following the sale, the chief marketing officer now owns 19,057 shares of the company’s stock, valued at $3,901,920.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Alan Mateo sold 910 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $204.72, for a total transaction of $186,295.20. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at $4,500,359.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,148 shares of company stock valued at $4,451,150. Company insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC bought a new stake in Veeva Systems during the first quarter valued at $1,906,000. Dimensional Fund Advisors LP boosted its position in shares of Veeva Systems by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 190,289 shares of the technology company’s stock valued at $40,430,000 after acquiring an additional 3,286 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Veeva Systems by 11.5% during the first quarter. Sequoia Financial Advisors LLC now owns 1,018 shares of the technology company’s stock worth $216,000 after purchasing an additional 105 shares in the last quarter. National Pension Service grew its holdings in shares of Veeva Systems by 3.0% during the first quarter. National Pension Service now owns 195,170 shares of the technology company’s stock worth $41,466,000 after purchasing an additional 5,607 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Veeva Systems by 1.0% in the first quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company’s stock worth $2,738,229,000 after purchasing an additional 132,560 shares during the last quarter. Hedge funds and other 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.