Veeva Systems Inc. (NYSE:VEEV) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Veeva Systems Inc. (NYSE:VEEV) has been assigned an average recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $227.95.

A number of equities analysts have recently issued reports on VEEV shares. Raymond James reissued an “outperform” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Tuesday, March 26th. UBS Group reduced their target price on shares of Veeva Systems from $235.00 to $185.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a report on Friday, May 31st. Finally, Stifel Nicolaus decreased their price objective on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, May 31st.

Insider Activity

In related news, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the transaction, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Alan Mateo sold 3,391 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of the 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. In the last quarter, insiders have sold 21,989 shares of company stock valued at $4,192,363. 10.50% of the stock is currently owned by insiders.

Institutional Trading of Veeva Systems

Several hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems in the first quarter worth about $28,000. Operose Advisors LLC acquired a new stake in Veeva Systems during the 3rd quarter worth approximately $29,000. DSM Capital Partners LLC bought a new position in Veeva Systems in the fourth quarter valued at approximately $29,000. First Financial Corp IN acquired a new position in shares of Veeva Systems in the first quarter valued at approximately $35,000. Finally, Larson Financial Group LLC increased its position in shares of Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Down 1.1 %

VEEV opened at $184.19 on Thursday. The stock’s 50 day simple moving average is $195.58 and its 200-day simple moving average is $205.10. The stock has a market cap of $29.77 billion, a PE ratio of 54.33, a P/E/G ratio of 1.84 and a beta of 0.80. Veeva Systems has a 1 year low of $162.72 and a 1 year high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $650.35 million during the quarter, compared to analysts’ expectations of $641.73 million. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. Equities analysts forecast that Veeva Systems will post 4.17 earnings per share for the current fiscal year.

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.