Veeva Systems Inc. (NYSE:VEEV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV) have received an average recommendation of “Moderate Buy” from the twenty-five analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $256.52.

A number of research analysts have issued reports on VEEV shares. Barclays boosted their price target on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Morgan Stanley upped their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Canaccord Genuity Group boosted their target price on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, December 6th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Citigroup increased their price target on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Monday, December 9th.

Veeva Systems Stock Down 0.6 %

VEEV stock opened at $226.51 on Friday. The firm’s 50-day simple moving average is $231.96 and its 200 day simple moving average is $223.04. The stock has a market cap of $36.85 billion, a PE ratio of 55.93, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 787 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its position in shares of Veeva Systems by 3.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company’s stock valued at $1,086,930,000 after acquiring an additional 177,201 shares in the last quarter. State Street Corp boosted its holdings in Veeva Systems by 1.5% during the third quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after purchasing an additional 47,872 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $685,355,000. FMR LLC raised its holdings in shares of Veeva Systems by 7.8% in the 4th quarter. FMR LLC now owns 3,213,360 shares of the technology company’s stock worth $675,609,000 after buying an additional 232,116 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Veeva Systems by 17.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company’s stock worth $631,935,000 after buying an additional 447,041 shares during the period. Institutional investors own 88.20% of the company’s stock.

About Veeva Systems

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.