Veeva Systems Inc. (NYSE:VEEV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV) have earned a consensus rating of “Moderate Buy” from the twenty-five analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $256.52.

Several equities analysts recently issued reports on VEEV shares. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. KeyCorp decreased their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Mizuho started coverage on Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price for the company. Canaccord Genuity Group raised their price target on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Evercore ISI upped their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th.

Veeva Systems Trading Down 0.6 %

NYSE:VEEV opened at $226.51 on Friday. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a market cap of $36.85 billion, a price-to-earnings ratio of 55.93, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The company’s 50-day moving average is $231.96 and its two-hundred day moving average is $223.04.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at $1,960,701.60. This represents a 8.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VEEV. Cardinal Capital Management raised its position in shares of Veeva Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock valued at $3,307,000 after purchasing an additional 44 shares in the last quarter. Johnson Financial Group Inc. raised its position in shares of Veeva Systems by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company’s stock valued at $56,000 after acquiring an additional 44 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Veeva Systems by 0.7% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock valued at $1,467,000 after buying an additional 51 shares during the period. Finally, CHICAGO TRUST Co NA raised its stake in Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after acquiring an additional 53 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

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.