Veeva Systems Inc. (NYSE:VEEV) Receives $234.90 Consensus Target Price from Analysts

Veeva Systems Inc. (NYSE:VEEV) has been given a consensus rating of “Moderate Buy” by the twenty brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $234.90.

Several equities analysts have recently weighed in on VEEV shares. The Goldman Sachs Group raised their target price on Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price on shares of Veeva Systems in a research report on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, April 2nd. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Barclays raised their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st.

Veeva Systems Stock Down 0.6 %

VEEV stock opened at $199.18 on Friday. Veeva Systems has a 52-week low of $160.21 and a 52-week high of $236.90. The company’s 50-day simple moving average is $221.86 and its 200-day simple moving average is $202.84. The firm has a market cap of $32.13 billion, a P/E ratio of 61.86, a PEG ratio of 2.04 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The company had revenue of $630.62 million for the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. On average, analysts anticipate that Veeva Systems will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now directly owns 10,668 shares in the company, valued at $2,212,756.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the transaction, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,836 shares of company stock valued at $4,396,902. Company insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new position in Veeva Systems in the third quarter worth approximately $25,000. Rise Advisors LLC lifted its position in shares of Veeva Systems by 424.0% during the 3rd quarter. Rise Advisors LLC now owns 131 shares of the technology company’s stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Operose Advisors LLC purchased a new stake in shares of Veeva Systems during the 3rd quarter worth $29,000. DSM Capital Partners LLC purchased a new position in Veeva Systems in the fourth quarter valued at $29,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in Veeva Systems in the fourth quarter valued at $32,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

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.