Evercore ISI Increases Veeva Systems (NYSE:VEEV) Price Target to $245.00

Veeva Systems (NYSE:VEEV) had its price objective increased by investment analysts at Evercore ISI from $220.00 to $245.00 in a report released on Friday,Benzinga reports. The firm currently has an “in-line” rating on the technology company’s stock. Evercore ISI’s price target indicates a potential downside of 2.18% from the company’s current price.

VEEV has been the subject of several other research reports. Piper Sandler upped their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup upped their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. TD Cowen lifted their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Barclays upped their target price on Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company lifted their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus price target of $254.04.

Veeva Systems Stock Up 8.1 %

VEEV stock opened at $250.45 on Friday. The stock’s 50 day moving average is $218.29 and its 200-day moving average is $202.85. Veeva Systems has a twelve month low of $165.12 and a twelve month high of $258.93. The firm has a market capitalization of $40.56 billion, a PE ratio of 61.84, a P/E/G ratio of 2.30 and a beta of 0.82.

Insider Buying and Selling at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems in the 3rd quarter worth about $26,000. True Wealth Design LLC lifted its position 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 worth $29,000 after buying an additional 135 shares during the last quarter. Blue Trust Inc. boosted 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 worth $33,000 after buying an additional 173 shares in the last quarter. DT Investment Partners LLC bought a new position in Veeva Systems during the second quarter valued at approximately $35,000. Finally, Mather Group LLC. grew its position in Veeva Systems by 166.3% during the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock valued at $46,000 after acquiring an additional 158 shares during 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.