Veeva Systems Inc. (NYSE:VEEV) Receives $236.92 Consensus Price Target from Analysts

Veeva Systems Inc. (NYSE:VEEV) has been assigned a consensus rating of “Moderate Buy” from the twenty-four research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $236.92.

Several equities analysts recently weighed in on the stock. TD Cowen increased their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. UBS Group increased their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Robert W. Baird cut their target price on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, Royal Bank of Canada increased their target price on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

Veeva Systems Stock Down 0.0 %

Veeva Systems stock opened at $226.88 on Friday. The firm’s fifty day moving average is $214.98 and its 200 day moving average is $201.48. Veeva Systems has a 12-month low of $165.12 and a 12-month high of $240.68. The company has a market capitalization of $36.74 billion, a PE ratio of 60.50, a PEG ratio of 2.09 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The firm had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Sell-side analysts expect that Veeva Systems will post 4.21 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Veeva Systems

A number of large investors have recently made changes to their positions in VEEV. Massachusetts Financial Services Co. MA raised its holdings in shares of Veeva Systems by 64.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after acquiring an additional 1,392,256 shares in the last quarter. Principal Financial Group Inc. boosted its position in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after purchasing an additional 1,267,061 shares in the last quarter. Swedbank AB purchased a new stake in Veeva Systems in the first quarter valued at about $227,673,000. FMR LLC boosted its holdings in Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock worth $625,674,000 after acquiring an additional 610,021 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Veeva Systems by 761.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 297,771 shares of the technology company’s stock worth $62,493,000 after acquiring an additional 263,214 shares in the last quarter. 88.20% of the stock is currently 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.