Veeva Systems (NYSE:VEEV – Free Report) had its target price reduced by Canaccord Genuity Group from $300.00 to $280.00 in a research report sent to investors on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the technology company’s stock.
Other equities analysts have also recently issued reports about the company. Wells Fargo & Company increased their target price on Veeva Systems from $300.00 to $326.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Piper Sandler upped their price target on Veeva Systems from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. BMO Capital Markets initiated coverage on Veeva Systems in a research note on Thursday, November 13th. They set a “market perform” rating and a $300.00 price objective for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Veeva Systems in a research note on Wednesday, October 8th. Finally, Mizuho upped their target price on shares of Veeva Systems from $295.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.84.
Check Out Our Latest Report on Veeva Systems
Veeva Systems Price Performance
VEEV stock opened at $243.98 on Friday. Veeva Systems has a 52-week low of $201.54 and a 52-week high of $310.50. The company has a 50-day moving average of $287.74 and a two-hundred day moving average of $279.13. The stock 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 – Get Free Report) last posted its quarterly earnings data on Thursday, November 20th. The technology company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. Veeva Systems had a return on equity of 13.72% and a net margin of 27.29%.The business had revenue of $811.24 million for the quarter, compared to analyst estimates of $792.37 million. During the same period in the previous year, the company posted $1.75 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Veeva Systems has set its FY 2026 guidance at 7.930-7.93 EPS. Q4 2026 guidance at 1.920-1.920 EPS. Equities analysts expect that Veeva Systems will post 4.35 EPS for the current fiscal year.
Insider Activity
In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the firm’s stock in a transaction dated 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 owned 7,868 shares in the company, valued at approximately $2,345,608.16. This trade represents a 8.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the completion of the transaction, the insider directly owned 25,325 shares of the company’s stock, valued at approximately $7,765,151.50. This represents a 19.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, 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
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Veeva Systems by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 15,429,231 shares of the technology company’s stock worth $4,596,522,000 after buying an additional 457,806 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Veeva Systems by 4.1% during the third quarter. Alliancebernstein L.P. now owns 5,941,631 shares of the technology company’s stock valued at $1,770,071,000 after acquiring an additional 235,983 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Veeva Systems by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company’s stock valued at $1,205,372,000 after acquiring an additional 34,169 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Veeva Systems by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock valued at $924,754,000 after acquiring an additional 689,700 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Veeva Systems by 11.2% in the third quarter. Principal Financial Group Inc. now owns 3,846,877 shares of the technology company’s stock worth $1,146,040,000 after purchasing an additional 388,864 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.
About Veeva Systems
(Get Free Report)
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.
Further Reading
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