Veeva Systems Inc.
- Open
- 232.88
- Day high
- 241.68
- Day low
- 230.17
- Prev close
- 236.58
- Volume
- 1.8M
- Mkt cap
- $39.2B
- P/E (TTM)
- 41.9
- EPS (TTM)
- $5.76
- P/B
- 5.4
- P/S
- 11.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$1.0M over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions mixed (13F)
Veeva Systems Inc. (VEEV) is a Healthcare company listed on NYSE. The stock is down 15% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Veeva Systems Inc. (VEEV) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 17 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
VEEV earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 3, 2026 | $2.14 | $2.24 | +4.7% | $883M | +2.9% |
| Mar 4, 2026 | $1.94 | $1.49 | -23.2% | $836M | +3.1% |
| Nov 20, 2025 | $1.95 | $2.04 | +4.6% | $811M | +2.3% |
| Aug 27, 2025 | $1.90 | $1.99 | +4.7% | $789M | +2.7% |
| May 28, 2025 | $1.74 | $1.97 | +13.2% | $759M | +4.2% |
| Mar 5, 2025 | $1.60 | $1.74 | +8.7% | $721M | +3.1% |
| Dec 5, 2024 | $1.58 | $1.75 | +10.8% | $699M | +2.2% |
| Aug 28, 2024 | $1.53 | $1.62 | +5.9% | $676M | +1.3% |
| May 30, 2024 | $1.42 | $1.50 | +5.6% | $650M | +1.3% |
| Feb 29, 2024 | $1.30 | $1.38 | +6.2% | $631M | +1.5% |
| Dec 6, 2023 | $1.28 | $1.34 | +4.7% | $617M | +0.1% |
| Aug 30, 2023 | $1.12 | $1.21 | +8.0% | $590M | +0.5% |
VEEV insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 20, 2026 | Schwenger Thomas D.officer: Pres. & Chief Customer Officer | Sell | 5,000 | $200.00 |
| Jul 6, 2026 | Van Wagener Brianofficer: Chief Financial Officer | Option | 1,635 | — |
| Jul 6, 2026 | Schwenger Thomas D.officer: Pres. & Chief Customer Officer | Option | 2,907 | — |
| Jul 6, 2026 | Zuppas Eleni Nitsaofficer: President & Chief of Staff | Option | 2,180 | — |
| Jul 6, 2026 | Faddis Jonathanofficer: SVP, Gen. Counsel, Secretary | Tax | 832 | $184.22 |
| Jul 6, 2026 | Schwenger Thomas D.officer: Pres. & Chief Customer Officer | Tax | 1,117 | $184.22 |
| Jul 6, 2026 | Van Wagener Brianofficer: Chief Financial Officer | Tax | 693 | $184.22 |
| Jul 6, 2026 | Faddis Jonathanofficer: SVP, Gen. Counsel, Secretary | Option | 1,635 | — |
| Jul 6, 2026 | Kondath Vipinofficer: Chief Accounting Officer | Tax | 60 | $184.22 |
| Jul 6, 2026 | Kondath Vipinofficer: Chief Accounting Officer | Option | 167 | — |
| Jun 22, 2026 | Hung Priscilladirector | Grant | 1,906 | — |
| Jun 22, 2026 | Cabral Timothy Sdirector | Grant | 1,906 | — |
| Jun 22, 2026 | Ritter Gordondirector | Grant | 2,164 | — |
| Jun 22, 2026 | MOHR MARSHALLdirector | Grant | 2,099 | — |
| Jun 22, 2026 | Hedley Mary Lynnedirector | Grant | 1,906 | — |
Source: VEEV SEC Form 4 filings, latest Jul 20, 2026. For informational purposes only — not investment advice.
See the full VEEV insider & 13F page →Veeva Systems Inc. company profile
Overview
Veeva Systems Inc. (NYSE:VEEV) is a leading provider of cloud-based software solutions specifically designed for the global life sciences industry. Founded in 2007 and headquartered in Pleasanton, California, the company went public in 2013 and has established itself as the dominant technology platform serving pharmaceutical, biotechnology, and medical device companies worldwide. Veeva operates as a specialized software-as-a-service (SaaS) provider, focusing exclusively on the unique regulatory, compliance, and operational needs of life sciences organizations throughout their drug development and commercialization processes.
Business
Veeva Systems operates in the highly specialized life sciences technology sector, providing cloud-based software solutions that help pharmaceutical and biotechnology companies manage their research, development, and commercial operations. The life sciences industry encompasses companies that develop medications, medical devices, and treatments - from initial drug discovery through clinical trials, regulatory approval, and eventual marketing to healthcare providers and patients. The company's offerings are organized into two primary business segments that together represent the complete lifecycle of pharmaceutical products: **Commercial Cloud** (approximately 60% of revenue) includes customer relationship management (CRM) systems that help pharmaceutical sales representatives manage relationships with doctors and healthcare providers, content management tools for marketing materials, data analytics platforms, and digital advertising solutions. Key products include Veeva CRM for sales force automation, Vault PromoMats for marketing content management, and Crossix for healthcare advertising analytics. This segment also encompasses the newer Vault CRM platform, which represents the next-generation architecture that the company is migrating customers toward. **Development Cloud** (approximately 40% of revenue) provides software solutions for clinical trials and regulatory processes, including electronic data capture (EDC) systems that collect patient data during clinical trials, clinical trial management systems (CTMS) that coordinate study operations, regulatory information management for drug approvals, and quality management systems. Major products include Vault EDC for clinical data collection, Vault CTMS for trial management, and various regulatory and safety applications that help companies navigate the complex approval processes required by agencies like the FDA. The company also offers professional services, training, and ongoing support to help customers implement and optimize their use of Veeva's platforms. This comprehensive approach has made Veeva the de facto standard technology infrastructure for most major pharmaceutical companies globally.
Revenue model
Veeva Systems generates revenue primarily through subscription-based software licensing, following the typical SaaS business model where customers pay recurring annual or multi-year fees to access and use the software platforms. The company's paying customers are predominantly large pharmaceutical companies (often called "Big Pharma"), mid-sized biotechnology firms, and medical device manufacturers who require specialized software to manage their highly regulated operations. The subscription revenue model provides predictable, recurring income streams with high customer retention rates, as switching costs are substantial given the mission-critical nature of the software and the extensive integration required with customers' business processes. Professional services revenue comes from implementation, training, and ongoing support services, though this represents a smaller portion of total revenue. Several factors can positively impact Veeva's margins and growth prospects. The life sciences industry's continued digital transformation drives demand for cloud-based solutions, while increasing regulatory complexity creates need for more sophisticated compliance tools. The company benefits from high switching costs once customers are implemented, leading to strong customer retention and expansion opportunities. Additionally, Veeva's focus on a single industry allows for deep specialization and premium pricing. Factors that could pressure margins include increased competition from larger technology companies like Salesforce or Microsoft entering the life sciences space, potential economic downturns that might cause biotech funding to dry up and reduce customer spending, and the substantial R&D investments required to maintain technological leadership. The company also faces the challenge of balancing growth investments with profitability expectations, particularly as it expands into new product areas and geographic markets.
Competitive moat
Veeva Systems possesses a strong and durable competitive moat built on several reinforcing factors. The company benefits from extremely high switching costs, as its software becomes deeply embedded in customers' critical business processes including clinical trials, regulatory submissions, and sales operations. Replacing Veeva's systems would require extensive retraining, data migration, and process reengineering that could take years and cost millions of dollars. The company has achieved significant network effects within the life sciences ecosystem, where the value of its platforms increases as more industry participants use them. For example, when multiple companies in a clinical trial use Veeva's systems, data sharing and collaboration become more seamless. This creates a self-reinforcing cycle where new customers are drawn to platforms already used by their industry peers and partners. Veeva's deep industry specialization provides another protective barrier. Unlike generic software providers, Veeva has built solutions specifically designed for life sciences regulatory requirements, compliance needs, and industry workflows. This specialization makes it extremely difficult for generalist software companies to compete effectively, as they would need to invest heavily to understand and serve the unique needs of pharmaceutical companies. However, the moat faces potential challenges from well-funded technology giants like Salesforce (which Veeva originally built upon), Microsoft, and Oracle, who have the resources to develop competing solutions or acquire specialized competitors. Additionally, the emergence of artificial intelligence and new technologies could potentially disrupt existing workflows and create opportunities for new entrants to leapfrog established solutions. The company must continue investing heavily in innovation to maintain its technological leadership and prevent commoditization of its offerings.
Risks & safety
**Overall Assessment**: Strong financial position with minimal solvency risk and reasonable valuation metrics for a high-quality SaaS business. **Cash and Debt Position**: - Cash and short-term investments: $1.12 billion - Minimal debt with debt-to-equity ratio of only 1.3% - Strong free cash flow generation: $1.09 billion annually - No meaningful cash burn or solvency concerns **Valuation Metrics**: - Price-to-earnings ratio: 48.4x (elevated but typical for high-growth SaaS) - EV/EBITDA: 46.4x (premium valuation reflecting quality and growth) - Price-to-book ratio: 6.5x - Current ratio: 4.5x indicating strong liquidity **Other Considerations**: - High-quality recurring revenue model with predictable cash flows - Strong customer retention and expansion characteristics - Dominant market position in specialized niche - Conservative balance sheet management with minimal financial leverage
Recent development
Over the past few years, Veeva has executed several major strategic initiatives to strengthen its market position and expand its addressable market. The company's most significant move has been the **Vault CRM migration project**, where it is transitioning its entire customer base from the legacy Salesforce-based CRM platform to its proprietary Vault architecture. This multi-year initiative has gained momentum with commitments from major pharmaceutical companies including Bayer and GSK, representing a foundational shift that will provide greater control over the platform and enable more sophisticated integrations. The company has aggressively expanded its **Development Cloud offerings**, particularly in clinical data management where it has achieved significant market penetration with 17 of the top 20 pharmaceutical companies now using its CTMS (Clinical Trial Management System) and 9 committed to its EDC (Electronic Data Capture) platform. This represents a major competitive victory against established players in the clinical trials software market. **Artificial Intelligence integration** has become a key focus area, with Veeva launching specific AI-powered tools including CRM Bot for sales automation, MLR Bot for medical legal review processes, and eTMF Bot for trial master file management. Rather than pursuing broad AI capabilities, the company has focused on workflow-specific applications that provide clear return on investment for customers. The **Data Cloud strategy** has emerged as a significant growth driver, with the launch of Compass Data Cloud providing pharmaceutical companies with patient and prescriber analytics. This expansion into data and analytics represents a natural evolution of Veeva's platform, leveraging its deep industry relationships to provide valuable market insights. The company has also set an ambitious **2030 revenue target of $6 billion**, signaling confidence in its long-term growth prospects and potential expansion into adjacent markets beyond its traditional life sciences focus.
VEEV company profile · for informational purposes only — not investment advice.
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