Veeva Systems Inc. (NYSE:VEEV) Given Average Recommendation of “Moderate Buy” by Brokerages

Veeva Systems Inc. (NYSE:VEEV) has received an average rating of “Moderate Buy” from the twenty-seven research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $257.44.

Several research firms recently commented on VEEV. Bank of America boosted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Citigroup boosted their price target on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays increased their price objective on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Morgan Stanley boosted their target price on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. Finally, Canaccord Genuity Group raised their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th.

Veeva Systems Stock Performance

Shares of VEEV opened at $217.43 on Thursday. The firm has a market cap of $35.30 billion, a P/E ratio of 53.69, a PEG ratio of 2.03 and a beta of 0.82. Veeva Systems has a twelve month low of $170.25 and a twelve month high of $258.93. The firm’s 50 day moving average price is $223.43 and its two-hundred day moving average price is $206.16.

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. raised its stake in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Veeva Systems by 19.4% during the second quarter. Raymond James & Associates now owns 106,241 shares of the technology company’s stock worth $19,443,000 after purchasing an additional 17,253 shares during the period. Premier Path Wealth Partners LLC acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $267,000. Slow Capital Inc. raised its position in shares of Veeva Systems by 1.1% in the second quarter. Slow Capital Inc. now owns 12,154 shares of the technology company’s stock valued at $2,224,000 after buying an additional 128 shares in the last quarter. Finally, Patten Group Inc. boosted its stake in shares of Veeva Systems by 17.2% in the second quarter. Patten Group Inc. now owns 6,554 shares of the technology company’s stock valued at $1,199,000 after buying an additional 963 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Company Profile

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.