Veeva Systems (NYSE:VEEV) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Veeva Systems (NYSE:VEEV) from a buy rating to a hold rating in a report issued on Thursday morning.

A number of other analysts have also issued reports on VEEV. Guggenheim boosted their price objective on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and decreased their price target for the company from $261.00 to $200.00 in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Barclays increased their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Evercore ISI lifted their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Stock Up 0.2 %

NYSE VEEV opened at $223.37 on Thursday. The firm’s 50-day simple moving average is $221.63 and its two-hundred day simple moving average is $210.89. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a market cap of $36.26 billion, a PE ratio of 55.15, a price-to-earnings-growth ratio of 2.01 and a beta of 0.84.

Insider Transactions at Veeva Systems

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 value of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was 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 directly 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 position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB grew its stake in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems during the third quarter valued at about $26,000. True Wealth Design LLC increased its holdings in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Veeva Systems in the fourth quarter worth about $31,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Veeva Systems during the third quarter valued at approximately $49,000. 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.