BNP Paribas Begins Coverage on Veeva Systems (NYSE:VEEV)

BNP Paribas assumed coverage on shares of Veeva Systems (NYSE:VEEV) in a research report released on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $286.00 target price on the technology company’s stock.

VEEV has been the topic of several other reports. Robert W. Baird upped their target price on Veeva Systems from $245.00 to $251.00 and gave the stock an outperform rating in a research report on Thursday, August 29th. Citigroup increased their price objective on Veeva Systems from $256.00 to $273.00 and gave the stock a buy rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. lifted their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the company a neutral rating in a research note on Monday, September 9th. Royal Bank of Canada reissued an outperform rating and issued a $250.00 target price on shares of Veeva Systems in a research report on Thursday, August 29th. Finally, Raymond James raised their price target on shares of Veeva Systems from $230.00 to $235.00 and gave the company an outperform rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $232.96.

Veeva Systems Price Performance

Shares of VEEV opened at $211.32 on Tuesday. The business’s 50-day moving average is $204.85 and its 200-day moving average is $199.60. The company has a market capitalization of $34.16 billion, a price-to-earnings ratio of 62.34, a P/E/G ratio of 2.01 and a beta of 0.81. Veeva Systems has a fifty-two week low of $162.72 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Equities research analysts expect that Veeva Systems will post 4.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new stake in shares of Veeva Systems during the 1st quarter valued at about $28,000. Blue Trust Inc. lifted its position in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares during the period. First Financial Corp IN bought a new position in shares of Veeva Systems during the 1st quarter worth approximately $35,000. DT Investment Partners LLC bought a new stake in Veeva Systems in the second quarter valued at $35,000. Finally, Larson Financial Group LLC raised its stake in Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. 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.