Piper Sandler Issues Positive Forecast for Veeva Systems (NYSE:VEEV) Stock Price

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

Several other research firms have also weighed in on VEEV. Guggenheim raised their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Veeva Systems in a report on Friday. Citigroup raised their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Bank of America raised their target price on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Truist Financial raised their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $237.00.

Veeva Systems Trading Up 0.9 %

Veeva Systems stock opened at $237.00 on Friday. The stock has a market cap of $38.38 billion, a price-to-earnings ratio of 62.67, a PEG ratio of 2.29 and a beta of 0.81. The company’s 50-day moving average price is $213.98 and its two-hundred day moving average price is $199.74. Veeva Systems has a 52 week low of $162.85 and a 52 week high of $240.68.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Research analysts expect that Veeva Systems will post 4.21 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

A number of institutional investors have recently modified their holdings of VEEV. Advisors Asset Management Inc. acquired a new stake in shares of Veeva Systems in the first quarter worth $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems in the third quarter worth $26,000. Blue Trust Inc. grew its stake in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after acquiring an additional 173 shares during the last quarter. DT Investment Partners LLC acquired a new stake in shares of Veeva Systems in the second quarter worth $35,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Veeva Systems in the second quarter worth $46,000. 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.