Veeva Systems Inc. (NYSE:VEEV) Given Average Recommendation of “Moderate Buy” by Brokerages

Veeva Systems Inc. (NYSE:VEEV) has earned an average rating of “Moderate Buy” from the twenty-six ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $256.58.

A number of research analysts recently commented on the company. Stifel Nicolaus upped their price objective on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada upped their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Barclays raised their price objective on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Raymond James upped their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird lifted their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, December 6th.

Veeva Systems Price Performance

Shares of VEEV stock opened at $221.54 on Thursday. The firm’s 50-day moving average is $222.54 and its two-hundred day moving average is $204.73. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93. The company has a market capitalization of $35.97 billion, a PE ratio of 54.70, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82.

Insiders Place Their Bets

In related news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Institutional Trading of Veeva Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Veeva Systems in the 3rd quarter valued at $26,000. True Wealth Design LLC raised its holdings in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares during the last quarter. Blue Trust Inc. raised its holdings 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 valued at $33,000 after buying an additional 173 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of Veeva Systems during the second quarter worth about $46,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Veeva Systems during the third quarter worth about $49,000. Institutional investors and hedge funds 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.