KeyCorp Cuts Veeva Systems (NYSE:VEEV) Price Target to $255.00

Veeva Systems (NYSE:VEEV) had its price target decreased by KeyCorp from $285.00 to $255.00 in a report published on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

VEEV has been the topic of a number of other research reports. Evercore ISI boosted their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. Scotiabank upped their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Stephens started coverage on shares of Veeva Systems in a research note on Friday, December 20th. They set an “overweight” rating and a $280.00 target price for the company. Finally, Stifel Nicolaus upped their price target on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $257.63.

Veeva Systems Trading Up 0.4 %

VEEV stock opened at $218.08 on Wednesday. The firm’s 50-day moving average is $222.97 and its two-hundred day moving average is $208.45. The company has a market capitalization of $35.41 billion, a price-to-earnings ratio of 53.85, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93.

Insider Transactions at Veeva Systems

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VEEV. Massachusetts Financial Services Co. MA grew 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 purchasing an additional 1,392,256 shares in the last quarter. State Street Corp increased its holdings in Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock valued at $691,132,000 after buying an additional 47,872 shares during the period. FMR LLC raised its stake in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after buying an additional 610,021 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Veeva Systems by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company’s stock worth $579,630,000 after acquiring an additional 149,807 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after acquiring an additional 1,081,501 shares in the last quarter. Institutional investors and hedge funds 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.