Veeva Systems (NYSE:VEEV) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Veeva Systems (NYSE:VEEV) had its price target hoisted by analysts at Stifel Nicolaus from $240.00 to $272.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 17.41% from the company’s current price.

A number of other brokerages have also recently commented on VEEV. JPMorgan Chase & Co. increased their target price on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. TD Cowen increased their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Barclays boosted their target price on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Bank of America increased their price target on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Canaccord Genuity Group boosted their price objective on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $249.23.

Veeva Systems Stock Performance

NYSE VEEV opened at $231.66 on Friday. The business has a fifty day moving average price of $217.50 and a 200 day moving average price of $202.61. The company has a market cap of $37.51 billion, a P/E ratio of 61.78, a P/E/G ratio of 2.20 and a beta of 0.82. Veeva Systems has a one year low of $165.12 and a one year high of $240.68.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction that occurred 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 owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Veeva Systems

A number of hedge funds have recently added to or reduced their stakes in VEEV. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Veeva Systems in the third quarter worth $26,000. True Wealth Design LLC boosted its holdings in Veeva Systems by 3,375.0% in the third 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. Blue Trust Inc. boosted its holdings in Veeva Systems by 3,460.0% in 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. DT Investment Partners LLC acquired a new position in Veeva Systems during the 2nd quarter worth $35,000. Finally, Mather Group LLC. increased its holdings in Veeva Systems by 166.3% during the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after purchasing an additional 158 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.