Veeva Systems Inc. (NYSE:VEEV) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Veeva Systems Inc. (NYSE:VEEV) have received an average recommendation of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $257.63.

VEEV has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Mizuho assumed coverage on Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target on the stock. Royal Bank of Canada increased their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Needham & Company LLC boosted their target price on Veeva Systems from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Guggenheim raised their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares of the company’s stock, 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 Investors Weigh In On Veeva Systems

Hedge funds have recently bought and sold shares of the business. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems in the 3rd quarter valued at approximately $26,000. True Wealth Design LLC lifted 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 buying an additional 135 shares during the last quarter. Fairscale Capital LLC bought a new stake in Veeva Systems in the second quarter worth $46,000. Harvest Fund Management Co. Ltd purchased a new position in Veeva Systems during the third quarter worth $49,000. Finally, Quent Capital LLC increased its position in Veeva Systems by 794.1% during the third quarter. Quent Capital LLC now owns 304 shares of the technology company’s stock valued at $64,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $218.08 on Monday. The company has a 50-day simple moving average of $222.97 and a two-hundred day simple moving average of $208.78. Veeva Systems has a 52-week low of $170.25 and a 52-week high of $258.93. The stock has a market capitalization of $35.41 billion, a PE ratio of 53.85, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84.

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.