Veeva Systems (NYSE:VEEV) Stock Price Expected to Rise, Barclays Analyst Says

Veeva Systems (NYSE:VEEV) had its price target raised by equities researchers at Barclays from $260.00 to $275.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 9.80% from the company’s previous close.

A number of other analysts have also weighed in on the company. Wells Fargo & Company increased their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday. BNP Paribas started coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price objective for the company. Royal Bank of Canada upped their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday. Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday. They set an “outperform” rating and a $275.00 target price on the stock. Finally, UBS Group boosted their price target on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $254.04.

Veeva Systems Trading Up 8.1 %

VEEV stock opened at $250.45 on Friday. Veeva Systems has a 12 month low of $165.12 and a 12 month high of $258.93. The stock has a market cap of $40.56 billion, a PE ratio of 61.84, a P/E/G ratio of 2.30 and a beta of 0.82. The company has a 50-day moving average price of $218.29 and a 200 day moving average price of $202.85.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was 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 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 disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Institutional Trading of Veeva Systems

Several large investors have recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems during the third quarter worth about $26,000. True Wealth Design LLC lifted its stake in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares during the period. Blue Trust Inc. boosted its holdings 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 acquiring an additional 173 shares during the last quarter. DT Investment Partners LLC acquired a new stake in shares of Veeva Systems in the second quarter worth $35,000. Finally, Mather Group LLC. increased its stake in shares of Veeva Systems by 166.3% in the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after acquiring an additional 158 shares during the period. 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.