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

Veeva Systems Inc. (NYSE:VEEV) has earned an average recommendation of “Moderate Buy” from the twenty research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $234.90.

VEEV has been the topic of several research analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a research report on Thursday, February 22nd. Citigroup lifted their target price on Veeva Systems from $240.00 to $264.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Robert W. Baird upped their price target on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Finally, Raymond James reiterated an “outperform” rating and set a $260.00 target price on shares of Veeva Systems in a research note on Tuesday, March 26th.

Insider Transactions at Veeva Systems

In related news, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the sale, the director now directly owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,836 shares of company stock valued at $4,396,902. Corporate insiders own 10.98% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Hedge funds have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new stake in Veeva Systems during the 3rd quarter worth about $25,000. Rise Advisors LLC grew its holdings 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 valued at $27,000 after acquiring an additional 106 shares in the last quarter. Operose Advisors LLC acquired a new position in shares of Veeva Systems in the third quarter worth $29,000. DSM Capital Partners LLC purchased a new stake in shares of Veeva Systems during the fourth quarter worth $29,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in Veeva Systems during the fourth quarter valued at $32,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Performance

NYSE:VEEV opened at $199.18 on Friday. The stock has a market cap of $32.13 billion, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 2.04 and a beta of 0.74. Veeva Systems has a one year low of $160.21 and a one year high of $236.90. The business’s 50-day simple moving average is $221.86 and its 200 day simple moving average is $202.84.

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

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.