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 ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $253.96.

VEEV has been the subject of several research analyst reports. Mizuho initiated coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective for the company. Royal Bank of Canada lifted their target price 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. StockNews.com lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Truist Financial lowered their target price on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a report on Monday, January 13th. Finally, Scotiabank lifted their target price on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th.

Veeva Systems Price Performance

VEEV stock opened at $234.04 on Friday. The company has a 50 day moving average price of $224.76 and a 200 day moving average price of $215.54. Veeva Systems has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The stock has a market capitalization of $38.00 billion, a PE ratio of 57.79, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its position in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Veeva Systems in the 4th quarter valued at about $25,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems in the 3rd quarter valued at about $26,000. Smithfield Trust Co raised its holdings in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares during the period. Finally, True Wealth Design LLC raised its holdings in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. 88.20% of the stock is owned by institutional investors.

About Veeva Systems

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.