Veeva Systems (NYSE:VEEV) Price Target Raised to $192.00 at TD Cowen

Veeva Systems (NYSE:VEEV) had its price objective hoisted by TD Cowen from $180.00 to $192.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of Veeva Systems from $225.00 to $230.00 and gave the stock an overweight rating in a research note on Thursday. Bank of America boosted their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a neutral rating in a research report on Thursday. Robert W. Baird lifted their target price on Veeva Systems from $245.00 to $251.00 and gave the company an outperform rating in a research note on Thursday. Truist Financial dropped their target price on Veeva Systems from $203.00 to $197.00 and set a hold rating for the company in a research report on Friday, June 14th. Finally, Evercore ISI dropped their price objective on Veeva Systems from $230.00 to $200.00 and set an in-line rating for the company in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $230.13.

Veeva Systems Stock Up 8.9 %

NYSE:VEEV opened at $217.00 on Thursday. The firm has a market cap of $35.08 billion, a PE ratio of 64.01, a price-to-earnings-growth ratio of 1.95 and a beta of 0.80. The company’s 50-day moving average price is $187.82 and its two-hundred day moving average price is $202.03. Veeva Systems has a 12 month low of $162.72 and a 12 month high of $236.90.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. On average, research analysts expect that Veeva Systems will post 4.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,807,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’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 approximately $1,807,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, the chief financial officer now owns 8,391 shares in the company, valued at $1,546,713.03. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Veeva Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems in the 1st quarter valued at about $28,000. DSM Capital Partners LLC acquired a new position in shares of Veeva Systems during the 4th quarter worth approximately $29,000. First Financial Corp IN bought a new stake in shares of Veeva Systems during the 1st quarter worth approximately $35,000. Larson Financial Group LLC boosted its holdings in shares of Veeva Systems by 1,153.8% in the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of Veeva Systems in the fourth quarter valued at $32,000. 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.