Veeva Systems (NYSE:VEEV) Price Target Raised to $285.00

Veeva Systems (NYSE:VEEV) had its price target boosted by Wells Fargo & Company from $275.00 to $285.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the stock. Truist Financial reiterated a “hold” rating and set a $261.00 target price (up previously from $207.00) on shares of Veeva Systems in a research note on Friday. Piper Sandler raised their target price on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho initiated coverage on Veeva Systems in a research note on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price for the company. Guggenheim raised their price objective on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, TD Cowen upped their target price on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $254.04.

Veeva Systems Stock Performance

Shares of VEEV opened at $250.45 on Friday. The stock has a market capitalization of $40.56 billion, a PE ratio of 61.84, a P/E/G ratio of 2.43 and a beta of 0.82. The company’s 50-day simple moving average is $218.29 and its 200-day simple moving average is $202.83. Veeva Systems has a 1 year low of $165.12 and a 1 year high of $258.93.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’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 value of $390,128.20. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

Several large investors have recently modified their holdings of the business. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Veeva Systems in the third quarter valued at $26,000. True Wealth Design LLC lifted 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 in the last quarter. Blue Trust Inc. boosted 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 worth $33,000 after purchasing an additional 173 shares during the last quarter. DT Investment Partners LLC acquired a new stake in shares of Veeva Systems during the 2nd quarter worth about $35,000. Finally, Mather Group LLC. raised its position in shares of Veeva Systems by 166.3% in the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock valued at $46,000 after buying an additional 158 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.