Veeva Systems (NYSE:VEEV) Price Target Raised to $280.00

Veeva Systems (NYSE:VEEV) had its price target increased by Piper Sandler from $230.00 to $280.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other brokerages also recently commented on VEEV. Guggenheim boosted their target price 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. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research report on Friday. UBS Group raised their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Barclays boosted their target price on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Bank of America raised their price target on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $237.00.

Veeva Systems Stock Up 5.2 %

NYSE VEEV opened at $235.00 on Friday. Veeva Systems has a twelve month low of $162.72 and a twelve month high of $240.68. The stock has a market cap of $38.05 billion, a P/E ratio of 62.67, a PEG ratio of 2.29 and a beta of 0.81. The company’s 50-day simple moving average is $213.98 and its 200 day simple moving average is $199.75.

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, beating analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. Research analysts anticipate that Veeva Systems will post 4.21 earnings per share for the current year.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 10.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

Several large investors have recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Veeva Systems in the 3rd quarter valued at $26,000. Advisors Asset Management Inc. bought a new position in Veeva Systems during the first quarter worth about $28,000. Blue Trust Inc. grew its stake in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares during the period. DT Investment Partners LLC acquired a new position in Veeva Systems in the second quarter valued at about $35,000. Finally, Mather Group LLC. increased its holdings in shares of Veeva Systems by 166.3% in the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after acquiring an additional 158 shares in the last quarter. Institutional investors 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.