Veeva Systems’ (VEEV) “Hold” Rating Reiterated at Truist Financial

Truist Financial restated their hold rating on shares of Veeva Systems (NYSE:VEEV) in a research report report published on Friday morning,Benzinga reports. They currently have a $261.00 target price on the technology company’s stock, up from their prior target price of $207.00.

Other analysts also recently issued research reports about the stock. BNP Paribas began coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target for the company. Needham & Company LLC upped their target price on Veeva Systems from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday. Raymond James increased their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Guggenheim lifted their price objective on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada increased their target price on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $254.04.

Veeva Systems Trading Up 8.1 %

VEEV opened at $250.45 on Friday. The stock has a 50-day moving average of $218.29 and a 200 day moving average of $202.83. Veeva Systems has a 12 month low of $165.12 and a 12 month high of $258.93. The firm has a market cap of $40.56 billion, a P/E ratio of 61.84, a P/E/G ratio of 2.43 and a beta of 0.82.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the firm’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 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 trade represents a 17.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction 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. The trade was a 4.00 % 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

Hedge funds have recently modified their holdings of the stock. General American Investors Co. Inc. purchased a new stake in Veeva Systems in the 3rd quarter worth approximately $5,133,000. Procyon Advisors LLC purchased a new stake in Veeva Systems during the third quarter worth $712,000. Envestnet Portfolio Solutions Inc. grew its position in Veeva Systems by 44.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock valued at $5,450,000 after buying an additional 9,232 shares during the period. Principal Financial Group Inc. increased its holdings in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in Veeva Systems by 3.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after buying an additional 2,733 shares in the last quarter. Hedge funds and other 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.