Veeva Systems (NYSE:VEEV) Price Target Lowered to $210.00 at Truist Financial

Veeva Systems (NYSE:VEEV) had its price target reduced by Truist Financial from $261.00 to $210.00 in a research report report published on Monday,Benzinga reports. They currently have a hold rating on the technology company’s stock.

Other analysts also recently issued research reports about the company. Wells Fargo & Company lifted their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Bank of America boosted their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. KeyCorp cut their target price on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Canaccord Genuity Group boosted their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Finally, Mizuho initiated coverage on shares of Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.74.

Veeva Systems Stock Down 2.2 %

NYSE:VEEV opened at $213.06 on Monday. The business’s 50-day simple moving average is $222.98 and its two-hundred day simple moving average is $208.97. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market cap of $34.59 billion, a PE ratio of 52.61, a P/E/G ratio of 2.03 and a beta of 0.84.

Insider Buying and Selling at Veeva Systems

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 transaction, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

Several institutional investors and hedge funds have recently modified their holdings of VEEV. Dai ichi Life Insurance Company Ltd lifted its stake in Veeva Systems by 465.5% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 6,074 shares of the technology company’s stock worth $1,112,000 after acquiring an additional 5,000 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in shares of Veeva Systems in the 2nd quarter worth approximately $258,000. J.W. Cole Advisors Inc. bought a new position in shares of Veeva Systems during the second quarter valued at approximately $221,000. Plato Investment Management Ltd increased its holdings in Veeva Systems by 19.5% during the second quarter. Plato Investment Management Ltd now owns 6,349 shares of the technology company’s stock valued at $1,162,000 after buying an additional 1,037 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Veeva Systems by 26.2% in the second quarter. Dimensional Fund Advisors LP now owns 378,380 shares of the technology company’s stock worth $69,259,000 after buying an additional 78,654 shares in the last quarter. 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.