Veeva Systems Inc. (VEEV): Insights At A Glance

The Vanguard Group, Inc. has recently announced that it has increased stake in Veeva Systems Inc. (NYSE:VEEV) by 0.93%. After grabbing 13.35 million shares, the institutional investor is now in possession of 0.12 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 9.19% having worth around $2.39 billion. Moreover, Artisan Partners LP increased its share by 0.32 million to have a control over 10.26 million shares. And T. Rowe Price Associates, Inc. raised its holdings to 0.28 million shares by acquiring 7.78 million shares or 5.36% of the stake.

Veeva Systems Inc. (VEEV) concluded trading on 05/24/23 at a closing price of $162.60, with 1.19 million shares of worth about $193.01 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -10.50% during that period and on Wednesday the price saw a loss of about -0.84%. Currently the company’s common shares owned by public are about 156.67M shares, out of which, 139.88M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 29 analysts are covering the VEEV stock and their offered price forecasts bring an average price target of $204.68. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $234.00 and could fall to a lowest price of $170.00. The stock’s current price level is 22.11% above of average price target set by the analysts, while a rise to estimated low would result in gain of 4.35% for the stock. However, touching the estimated high of $234.00 would mean a gain of 30.51% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 244 times over the past 12 months. They bought 3,488,609 shares in 90 of the transactions. In 154 selling transactions, insiders dumped 3,500,747 shares.

Vanguard Total Stock Market ETF, T Rowe Price New Horizons Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Veeva Systems Inc. Vanguard Total Stock Market ETF is currently holding 4.38 million shares of worth totaling $783.94 million. The company recently came buying 15459.0 shares which brought its stake up to 3.01% of the company’s outstanding shares. T Rowe Price New Horizons Fund bought 0.6 million shares, after which its hold over company’s outstanding shares expand to 2.65%, leaving 3.85 million shares with the mutual fund that have a worth of about $689.9 million. Vanguard Mid Cap Index Fund, after selling 3.29 million shares, have now control over 2.26% of the stake in the company. It holds 3754.0 shares of worth $588.79 million.

Veeva Systems Inc. (NYSE: VEEV) started trading at $162.98, below -$0.99 from concluding price of the previous day. However, the stock later moved at a day high price of 163.46, or with a loss of -0.84%. Stock saw a price change of -2.13% in past 5 days and over the past one month there was a price change of -9.08%. Year-to-date (YTD), VEEV shares are showing a performance of 0.76% which decreased to -0.26% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $151.02 but also hit the highest price of $232.26 during that period. The average intraday trading volume for Veeva Systems Inc. shares is 995.92K. The stock is currently trading -6.42% below its 20-day simple moving average (SMA20), while that difference is down -7.91% for SMA50 and it goes to -7.58% lower than SMA200.

The Vanguard Group, Inc. acquired 13.35 million shares of Veeva Systems Inc. having value of about $2.39 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.12 million shares in the company valued at close to $20022889.2, or have control over 0.93% stake in the company. Veeva Systems Inc. (NYSE: VEEV) currently have 156.67M outstanding shares and institutions hold larger chunk of about 93.10% of that. Holding of mutual funds in the company is about 38.47% while other institutional holders and individual stake holders have control over 52.94% and 1.79% of the stake respectively.

The stock has a current market capitalization of $26.32B and its 3Y-monthly beta is at 0.92. PE ratio of stock for trailing 12 months is 47.78, while it has posted earnings per share of $3.40 in the same period. Its PEG reads 3.78 and has Quick Ratio of 3.90 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for VEEV, volatility over the week remained 2.18% while standing at 2.46% over the month.

Analysts are in expectations that Veeva Systems Inc. (VEEV) stock would likely to be making an EPS of $0.79 in the current quarter, while forecast for next quarter EPS is $1.08 and it is $5.22 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.71 which is $0.83 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.99 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 12.80% while it is estimated to increase by 20.90% in next year. EPS is likely to shrink at an annualized rate of 12.65% for next 5-years, compared to annual growth of 26.50% made by the stock over the past 5-years.

Analysts at 29 brokerage firms have issued recommendations for the Veeva Systems Inc. (VEEV)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 29 Wall Street analysts, 13 recommended a “Buy” rating, while 12 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.