Veeva Systems Inc. (NYSE:VEEV) Receives $256.58 Average PT from Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV) have been given an average rating of “Moderate Buy” by the twenty-seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $257.44.

VEEV has been the subject of a number of recent research reports. Truist Financial restated a “hold” rating and issued a $261.00 target price (up from $207.00) on shares of Veeva Systems in a research note on Friday, December 6th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Stephens assumed coverage on shares of Veeva Systems in a research report on Friday, December 20th. They set an “overweight” rating and a $280.00 target price on the stock. Citigroup increased their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Piper Sandler lifted their price objective on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents 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.

Hedge Funds Weigh In On Veeva Systems

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. Raymond James & Associates grew its holdings in shares of Veeva Systems by 19.4% in the 2nd quarter. Raymond James & Associates now owns 106,241 shares of the technology company’s stock valued at $19,443,000 after buying an additional 17,253 shares during the period. Premier Path Wealth Partners LLC bought a new stake in shares of Veeva Systems in the 2nd quarter valued at $267,000. Slow Capital Inc. raised its stake in Veeva Systems by 1.1% during the 2nd quarter. Slow Capital Inc. now owns 12,154 shares of the technology company’s stock worth $2,224,000 after buying an additional 128 shares during the period. Finally, Patten Group Inc. lifted its holdings in Veeva Systems by 17.2% during the second 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 in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 3.3 %

Veeva Systems stock opened at $217.43 on Thursday. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a market cap of $35.30 billion, a price-to-earnings ratio of 53.69, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. The business has a 50 day moving average price of $223.43 and a two-hundred day moving average price of $206.16.

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.