Veeva Systems (NYSE:VEEV) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Veeva Systems (NYSE:VEEV) had its price target lifted by research analysts at Robert W. Baird from $275.00 to $283.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target points to a potential upside of 13.00% from the stock’s previous close.

VEEV has been the topic of a number of other reports. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research note on Friday, November 8th. BNP Paribas initiated coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price on the stock. JPMorgan Chase & Co. raised their price target on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. UBS Group raised their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $254.04.

Veeva Systems Trading Up 8.1 %

Shares of VEEV stock opened at $250.45 on Friday. The firm’s 50 day moving average is $218.29 and its 200 day moving average is $202.85. The stock has a market capitalization of $40.56 billion, a P/E ratio of 61.84, a PEG ratio of 2.30 and a beta of 0.82. Veeva Systems has a 12 month low of $165.12 and a 12 month high of $258.93.

Insider Activity

In other news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction 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 position. The disclosure for this sale can be found here. 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 business. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Veeva Systems in the third quarter worth approximately $26,000. True Wealth Design LLC boosted its position in Veeva Systems by 3,375.0% in the third 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 last quarter. Blue Trust Inc. grew its stake in shares of 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 period. DT Investment Partners LLC purchased a new stake in shares of Veeva Systems during the 2nd quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems in the 3rd quarter worth approximately $49,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

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.