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

Shares of Veeva Systems Inc. (NYSE:VEEV) have been given a consensus rating of “Moderate Buy” by the twenty-five research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $254.48.

VEEV has been the subject of several analyst reports. Morgan Stanley increased their price objective on shares of Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. KeyCorp decreased their price objective 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. Robert W. Baird increased their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Truist Financial decreased their price objective on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating for the company in a research note on Monday, January 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research note on Friday, January 17th.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Cim LLC boosted its holdings in Veeva Systems by 1.8% in the 4th quarter. Cim LLC now owns 5,425 shares of the technology company’s stock valued at $1,141,000 after purchasing an additional 98 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Veeva Systems during the 4th quarter worth $43,051,000. Capital A Wealth Management LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth $254,000. Heck Capital Advisors LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth $309,000. Finally, Leigh Baldwin & CO. LLC bought a new stake in shares of Veeva Systems during the 4th quarter worth $3,260,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

VEEV opened at $219.28 on Tuesday. Veeva Systems has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The firm has a market capitalization of $35.60 billion, a PE ratio of 54.14, a P/E/G ratio of 1.89 and a beta of 0.85. The company’s 50-day moving average is $223.74 and its 200 day moving average is $219.35.

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.