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

Shares of Veeva Systems Inc. (NYSE:VEEV) have earned a consensus rating of “Moderate Buy” from the twenty-three analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $232.87.

Several analysts have recently weighed in on the stock. BNP Paribas began coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price on the stock. Raymond James boosted their price target on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. TD Cowen increased their price objective on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Piper Sandler upped their target price on shares of Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Bank of America lifted their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in Veeva Systems during the third quarter worth about $26,000. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems during the 1st quarter valued at about $28,000. Blue Trust Inc. grew its position in shares of Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. DT Investment Partners LLC bought a new stake in Veeva Systems during the 2nd quarter worth approximately $35,000. Finally, Larson Financial Group LLC raised its holdings in Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.8 %

Shares of VEEV stock opened at $213.77 on Wednesday. The firm has a market capitalization of $34.62 billion, a P/E ratio of 57.01, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. Veeva Systems has a 1 year low of $162.72 and a 1 year high of $236.90. The firm’s fifty day simple moving average is $211.85 and its 200 day simple moving average is $198.78.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. Equities research analysts anticipate that Veeva Systems will post 4.21 EPS for the current fiscal year.

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.