Stephens Initiates Coverage on Veeva Systems (NYSE:VEEV)

Stephens initiated coverage on shares of Veeva Systems (NYSE:VEEV) in a report issued on Friday, Marketbeat.com reports. The firm issued an overweight rating and a $280.00 price objective on the technology company’s stock.

Other equities research analysts have also issued reports about the company. Scotiabank raised their price objective on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. BNP Paribas assumed coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target for the company. Guggenheim upped their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Canaccord Genuity Group lifted their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their price objective on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.44.

Veeva Systems Stock Up 2.0 %

Shares of Veeva Systems stock opened at $224.15 on Friday. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93. The stock has a market cap of $36.39 billion, a PE ratio of 55.35, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. The business has a fifty day simple moving average of $222.99 and a 200-day simple moving average of $205.39.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares during the last quarter. Raymond James & Associates grew its stake in shares of Veeva Systems by 19.4% during the second quarter. Raymond James & Associates now owns 106,241 shares of the technology company’s stock valued at $19,443,000 after purchasing an additional 17,253 shares during the last quarter. Premier Path Wealth Partners LLC acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $267,000. Patten Group Inc. raised its position in shares of Veeva Systems by 17.2% during the second quarter. Patten Group Inc. now owns 6,554 shares of the technology company’s stock worth $1,199,000 after acquiring an additional 963 shares during the last quarter. Finally, Bristlecone Advisors LLC lifted its position in Veeva Systems by 2.7% during the 2nd quarter. Bristlecone Advisors LLC now owns 21,043 shares of the technology company’s stock valued at $3,851,000 after purchasing an additional 559 shares during the period. 88.20% of the stock is 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.