Veeva Systems (NYSE:VEEV) Price Target Raised to $249.00

Veeva Systems (NYSE:VEEV) had its price objective increased by JPMorgan Chase & Co. from $218.00 to $249.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

VEEV has been the subject of several other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Scotiabank lifted their target price on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. KeyCorp cut their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Canaccord Genuity Group lifted their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and cut their target price for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.52.

Veeva Systems Trading Down 0.6 %

Shares of NYSE VEEV opened at $235.71 on Thursday. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93. The company has a 50 day simple moving average of $228.86 and a two-hundred day simple moving average of $222.03. The stock has a market cap of $38.27 billion, a price-to-earnings ratio of 58.20, a PEG ratio of 1.89 and a beta of 0.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. 111 Capital acquired a new position in shares of Veeva Systems during the 4th quarter valued at about $678,000. NorthCrest Asset Manangement LLC boosted its position in shares of Veeva Systems by 2.1% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 48,781 shares of the technology company’s stock valued at $10,256,000 after acquiring an additional 1,011 shares during the last quarter. PKO Investment Management Joint Stock Co acquired a new position in shares of Veeva Systems during the 4th quarter valued at about $336,000. Centaurus Financial Inc. boosted its position in shares of Veeva Systems by 11.8% during the 4th quarter. Centaurus Financial Inc. now owns 1,493 shares of the technology company’s stock valued at $314,000 after acquiring an additional 158 shares during the last quarter. Finally, Siemens Fonds Invest GmbH boosted its position in shares of Veeva Systems by 1,538.3% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,195 shares of the technology company’s stock valued at $11,605,000 after acquiring an additional 51,826 shares during the last quarter. Institutional investors and hedge funds 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.