Veeva Systems (NYSE:VEEV) Price Target Raised to $249.00 at JPMorgan Chase & Co.

Veeva Systems (NYSE:VEEV) had its price objective increased by JPMorgan Chase & Co. from $218.00 to $249.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

VEEV has been the topic of several other research reports. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and reduced their target price for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Stifel Nicolaus raised their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Bank of America raised their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Barclays raised their price target on shares of Veeva Systems from $260.00 to $275.00 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, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Trading Down 0.6 %

Shares of VEEV opened at $235.71 on Thursday. Veeva Systems has a twelve month low of $170.25 and a twelve month high of $258.93. The company has a market cap of $38.27 billion, a P/E ratio of 58.20, a P/E/G ratio of 1.89 and a beta of 0.88. The company’s fifty day simple moving average is $228.86 and its 200-day simple moving average is $222.03.

Institutional Trading of Veeva Systems

A number of institutional investors have recently modified their holdings of the company. 111 Capital bought a new stake in shares of Veeva Systems in the 4th quarter valued at about $678,000. NorthCrest Asset Manangement LLC boosted its stake in Veeva Systems by 2.1% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 48,781 shares of the technology company’s stock worth $10,256,000 after purchasing an additional 1,011 shares in the last quarter. PKO Investment Management Joint Stock Co acquired a new stake in Veeva Systems in the 4th quarter worth approximately $336,000. Centaurus Financial Inc. boosted its stake in Veeva Systems by 11.8% in the 4th quarter. Centaurus Financial Inc. now owns 1,493 shares of the technology company’s stock worth $314,000 after purchasing an additional 158 shares in the last quarter. Finally, Siemens Fonds Invest GmbH boosted its stake in Veeva Systems by 1,538.3% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,195 shares of the technology company’s stock worth $11,605,000 after purchasing an additional 51,826 shares in the last quarter. 88.20% of the stock is currently 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.