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-seven brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $257.44.

A number of brokerages recently commented on VEEV. Wells Fargo & Company raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Robert W. Baird boosted their price target on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Royal Bank of Canada increased their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Stephens initiated coverage on Veeva Systems in a research note on Friday. They issued an “overweight” rating and a $280.00 target price on the stock. Finally, Stifel Nicolaus raised their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th.

Veeva Systems Stock Performance

NYSE VEEV opened at $224.89 on Thursday. Veeva Systems has a 52-week low of $170.25 and a 52-week high of $258.93. The business has a 50 day simple moving average of $222.99 and a 200 day simple moving average of $205.55. The stock has a market cap of $36.51 billion, a price-to-earnings ratio of 55.53, a PEG ratio of 2.03 and a beta of 0.82.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the 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 transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VEEV. Blue Trust Inc. raised its holdings in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares in the last quarter. Raymond James & Associates grew its stake in 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 buying an additional 17,253 shares in the last quarter. Premier Path Wealth Partners LLC bought a new position in Veeva Systems in the 2nd quarter valued at about $267,000. Slow Capital Inc. raised its position in shares of Veeva Systems by 1.1% in the 2nd 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. lifted its holdings in shares of Veeva Systems by 17.2% during the 2nd quarter. Patten Group Inc. now owns 6,554 shares of the technology company’s stock worth $1,199,000 after acquiring an additional 963 shares during the period. 88.20% of the stock is owned by 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.