The Goldman Sachs Group downgraded shares of Veeva Systems (NYSE:VEEV – Free Report) from a buy rating to a sell rating in a research report released on Thursday, Marketbeat Ratings reports. They currently have $200.00 target price on the technology company’s stock, down from their previous target price of $261.00.
Several other research firms also recently issued reports on VEEV. Citigroup lifted their price objective on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Bank of America upped their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada raised their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Guggenheim upped their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company lifted their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $253.96.
Read Our Latest Stock Analysis on Veeva Systems
Veeva Systems Price Performance
Insider Transactions at Veeva Systems
In other news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB lifted its holdings in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems during the third quarter valued at approximately $26,000. True Wealth Design LLC boosted its holdings in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Veeva Systems in the fourth quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems in the third quarter valued at $49,000. Institutional investors own 88.20% of the company’s stock.
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.
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