Veeva Systems (NYSE:VEEV) Price Target Raised to $230.00

Veeva Systems (NYSE:VEEV) had its price objective hoisted by Piper Sandler from $225.00 to $230.00 in a research report released on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

Several other brokerages also recently weighed in on VEEV. Canaccord Genuity Group decreased their target price on Veeva Systems from $220.00 to $210.00 and set a hold rating for the company in a research report on Friday, May 31st. Needham & Company LLC reaffirmed a buy rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Thursday. Barclays decreased their target price on shares of Veeva Systems from $245.00 to $220.00 and set an overweight rating for the company in a research note on Friday, May 31st. Bank of America lifted their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a neutral rating in a research note on Thursday. Finally, Royal Bank of Canada reissued an outperform rating and issued a $250.00 price objective on shares of Veeva Systems in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $230.13.

Veeva Systems Trading Down 0.3 %

Shares of NYSE:VEEV opened at $216.44 on Thursday. Veeva Systems has a 12-month low of $162.72 and a 12-month high of $236.90. The stock’s 50-day moving average price is $189.12 and its two-hundred day moving average price is $202.12. The firm has a market cap of $34.99 billion, a price-to-earnings ratio of 63.85, a PEG ratio of 1.95 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The business had revenue of $650.35 million during the quarter, compared to analysts’ expectations of $641.73 million. As a group, research analysts forecast that Veeva Systems will post 4.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the transaction, the chief financial officer now owns 8,391 shares in the company, valued at approximately $1,546,713.03. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. acquired a new stake in Veeva Systems during the first quarter valued at $28,000. DSM Capital Partners LLC acquired a new stake in shares of Veeva Systems during the 4th quarter valued at about $29,000. First Financial Corp IN bought a new stake in shares of Veeva Systems in the 1st quarter valued at approximately $35,000. Larson Financial Group LLC increased its holdings in Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new position in Veeva Systems during the fourth quarter valued at approximately $32,000. 88.20% of the stock is currently owned by hedge funds and other 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.