Brokerages Set Veeva Systems Inc. (NYSE:VEEV) PT at $253.96

Veeva Systems Inc. (NYSE:VEEV) has earned a consensus rating of “Moderate Buy” from the twenty-seven research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $253.96.

Several equities research analysts have recently issued reports on VEEV shares. Morgan Stanley lifted their price target on Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a report on Tuesday, December 17th. Evercore ISI raised their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Barclays boosted their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Truist Financial decreased their price target on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a report on Monday, January 13th.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $237.16 on Friday. The stock has a fifty day moving average of $224.48 and a 200-day moving average of $214.55. The company has a market capitalization of $38.50 billion, a PE ratio of 58.56, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. Veeva Systems has a one year low of $170.25 and a one year high of $258.93.

Insiders Place Their Bets

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 transaction of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

Institutional investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB increased its position in shares of 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 buying an additional 50 shares during the period. Centricity Wealth Management LLC purchased a new position in Veeva Systems during the fourth quarter valued at approximately $25,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Veeva Systems during the 3rd quarter worth approximately $26,000. Smithfield Trust Co lifted its stake in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

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.