Key Points
- Director Priscilla Hung sold 750 Veeva Systems shares for approximately $195,780, reducing her direct holdings by 18.79% to 3,242 shares.
- Veeva reported quarterly EPS of $2.35, exceeding estimates of $2.23, while revenue rose 17.6% year over year to $927.96 million.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $284.88; institutional investors own 88.20% of the stock.
Veeva Systems Inc. (NYSE:VEEV - Get Free Report) Director Priscilla Hung sold 750 shares of the business's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $261.04, for a total transaction of $195,780.00. Following the completion of the sale, the director directly owned 3,242 shares of the company's stock, valued at approximately $846,291.68. The trade was a 18.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Veeva Systems Stock Performance
NYSE:VEEV opened at $262.30 on Friday. Veeva Systems Inc. has a 52 week low of $148.05 and a 52 week high of $310.50. The firm has a market cap of $42.47 billion, a price-to-earnings ratio of 43.14, a P/E/G ratio of 1.11 and a beta of 0.97. The firm's 50-day simple moving average is $228.50 and its 200 day simple moving average is $190.94.
Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The technology company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $927.96 million during the quarter, compared to analysts' expectations of $905.38 million. Veeva Systems had a net margin of 29.34% and a return on equity of 14.25%. The business's revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.99 EPS. Veeva Systems has set its FY 2027 guidance at 9.210-9.210 EPS and its Q3 2027 guidance at 2.330-2.340 EPS. Sell-side analysts anticipate that Veeva Systems Inc. will post 6.7 EPS for the current year.
Analyst Ratings Changes
Several brokerages recently issued reports on VEEV. Mizuho boosted their price target on Veeva Systems from $270.00 to $280.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. The Goldman Sachs Group dropped their price objective on Veeva Systems from $190.00 to $165.00 and set a "sell" rating for the company in a report on Thursday, June 4th. Raymond James Financial reiterated an "outperform" rating and set a $225.00 target price on shares of Veeva Systems in a research report on Thursday, June 4th. Needham & Company LLC increased their target price on Veeva Systems from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Finally, UBS Group raised their price target on Veeva Systems from $190.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, August 27th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $284.88.
Read Our Latest Analysis on VEEV
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Sivia Capital Partners LLC boosted its holdings in shares of Veeva Systems by 225.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,122 shares of the technology company's stock valued at $899,000 after purchasing an additional 2,164 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Veeva Systems by 44.5% during the 2nd quarter. Bank of Nova Scotia now owns 5,866 shares of the technology company's stock worth $1,689,000 after buying an additional 1,806 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Veeva Systems by 34.6% during the 2nd quarter. NewEdge Advisors LLC now owns 8,832 shares of the technology company's stock worth $2,543,000 after buying an additional 2,272 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Veeva Systems by 2.2% during 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 buying an additional 1,452 shares during the last quarter. Finally, Diversify Wealth Management LLC boosted its stake in Veeva Systems by 5.3% in the second quarter. Diversify Wealth Management LLC now owns 11,399 shares of the technology company's stock valued at $3,140,000 after buying an additional 575 shares in the last quarter. 88.20% of the stock is owned by institutional investors.
About Veeva Systems
(
Get Free Report)
Veeva Systems Inc is a cloud software company that provides technology solutions for the life sciences industry, including pharmaceutical, biotechnology, medical device and related organizations. Its applications are designed to support functions across the product lifecycle, from research and clinical development through regulatory approval, manufacturing, quality management and commercial operations.
The company's Veeva Vault platform includes applications for clinical data management, electronic trial management, regulatory information, quality processes, safety operations and commercial content management.
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