Veeva Systems (NYSE:VEEV) PT Lowered to $245.00 at Robert W. Baird

Veeva Systems (NYSE:VEEV) had its price objective decreased by stock analysts at Robert W. Baird from $251.00 to $245.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 14.61% from the stock’s current price.

VEEV has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research note on Thursday, August 29th. Guggenheim lifted their price objective on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. BNP Paribas began coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 target price on shares of Veeva Systems in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $232.87.

Veeva Systems Stock Up 0.8 %

Veeva Systems stock opened at $213.77 on Monday. Veeva Systems has a 12-month low of $162.72 and a 12-month high of $236.90. The business’s 50-day moving average price is $211.85 and its two-hundred day moving average price is $198.78. The stock has a market cap of $34.62 billion, a PE ratio of 57.01, a P/E/G ratio of 2.06 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. As a group, analysts expect that Veeva Systems will post 4.21 earnings per share for the current year.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.50% of the stock is owned by corporate insiders.

Institutional Trading of Veeva Systems

Several large investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC lifted its position in Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after purchasing an additional 48 shares in the last quarter. Clearbridge Investments LLC lifted its position in Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after purchasing an additional 52 shares in the last quarter. Western Pacific Wealth Management LP lifted its position in Veeva Systems by 23.3% during the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after purchasing an additional 58 shares in the last quarter. Park Place Capital Corp lifted its position in Veeva Systems by 11.5% during the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after purchasing an additional 59 shares in the last quarter. Finally, Shepherd Financial Partners LLC lifted its position in Veeva Systems by 1.7% during the third quarter. Shepherd Financial Partners LLC now owns 3,752 shares of the technology company’s stock valued at $787,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

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.