Veeva Systems’ (VEEV) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Veeva Systems (NYSE:VEEV) in a research report released on Friday,Benzinga reports. They currently have a $270.00 price target on the technology company’s stock.

Several other analysts also recently commented on the company. Bank of America raised their target price on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Mizuho began coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price on the stock. Piper Sandler raised their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Guggenheim raised their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Robert W. Baird raised their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $255.74.

Veeva Systems Trading Up 0.9 %

Shares of Veeva Systems stock opened at $216.67 on Friday. The business has a 50-day moving average price of $222.31 and a two-hundred day moving average price of $209.66. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $258.93. The company has a market cap of $35.18 billion, a P/E ratio of 53.50, a PEG ratio of 1.91 and a beta of 0.84.

Insiders Place Their Bets

In related news, 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 transaction, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Veeva Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems in the third quarter worth approximately $26,000. True Wealth Design LLC lifted its stake 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 worth $29,000 after buying an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Veeva Systems in the fourth quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems in the third quarter worth approximately $49,000. Hedge funds and other institutional investors 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.