JPMorgan Chase & Co. Raises Veeva Systems (NYSE:VEEV) Price Target to $218.00

Veeva Systems (NYSE:VEEV) had its price objective lifted by JPMorgan Chase & Co. from $208.00 to $218.00 in a research report sent to investors on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

Several other research analysts also recently weighed in on the stock. Scotiabank increased their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Friday, December 6th. Truist Financial reaffirmed a “hold” rating and issued a $261.00 target price (up from $207.00) on shares of Veeva Systems in a report on Friday, December 6th. BNP Paribas initiated coverage on Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price on the stock. Wells Fargo & Company raised their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, TD Cowen lifted their price objective on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $255.73.

Veeva Systems Stock Down 1.9 %

NYSE VEEV opened at $224.50 on Monday. The company has a 50-day moving average price of $221.81 and a 200-day moving average price of $204.25. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93. The firm has a market capitalization of $36.45 billion, a P/E ratio of 55.43, a PEG ratio of 2.03 and a beta of 0.82.

Insider Buying and Selling

In other 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 completion of the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems 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 completion of 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 position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Institutional Trading of Veeva Systems

Institutional investors have recently bought and sold shares of the stock. Mowery & Schoenfeld Wealth Management LLC bought a new position in Veeva Systems during the third quarter valued at $26,000. True Wealth Design LLC boosted its stake in shares of Veeva Systems by 3,375.0% during the 3rd 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 period. Blue Trust Inc. grew its holdings in Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the last quarter. DT Investment Partners LLC bought a new position in Veeva Systems during the 2nd quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Veeva Systems in the 3rd quarter worth about $49,000. 88.20% of the stock is currently 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.