Veeva Systems (NYSE:VEEV) Given New $218.00 Price Target at JPMorgan Chase & Co.

Veeva Systems (NYSE:VEEV) had its price objective lifted by JPMorgan Chase & Co. from $208.00 to $218.00 in a report published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on VEEV. Scotiabank raised their price objective on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Needham & Company LLC raised their price target on Veeva Systems from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Truist Financial reiterated a “hold” rating and issued a $261.00 price objective (up previously from $207.00) on shares of Veeva Systems in a research report on Friday, December 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Finally, Barclays lifted their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.73.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $224.50 on Monday. Veeva Systems has a 52-week low of $170.25 and a 52-week high of $258.93. The company has a fifty day moving average of $221.81 and a 200-day moving average of $204.25. The stock has a market capitalization of $36.45 billion, a price-to-earnings ratio of 55.43, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems 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 transaction, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction 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 directly 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 disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Veeva Systems in the 3rd quarter worth about $26,000. True Wealth Design LLC boosted its holdings in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares during the last quarter. 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 period. DT Investment Partners LLC bought a new position in Veeva Systems during the second quarter valued at approximately $35,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Veeva Systems during the third quarter valued at approximately $49,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

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.