Stephens Initiates Coverage on Veeva Systems (NYSE:VEEV)

Stephens started coverage on shares of Veeva Systems (NYSE:VEEV) in a report released on Friday, Marketbeat.com reports. The firm set an “overweight” rating and a $280.00 price target on the technology company’s stock. Stephens’ target price indicates a potential upside of 24.92% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Citigroup increased their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Stifel Nicolaus increased their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Robert W. Baird lifted their target price on Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. BNP Paribas started coverage on Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target for the company. Finally, Piper Sandler boosted their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $257.44.

Veeva Systems Stock Up 2.0 %

NYSE VEEV opened at $224.15 on Friday. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93. The business’s fifty day simple moving average is $222.99 and its 200-day simple moving average is $205.39. The firm has a market cap of $36.39 billion, a PE ratio of 55.35, a P/E/G ratio of 2.03 and a beta of 0.82.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The stock was 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 $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems during the third quarter worth approximately $26,000. True Wealth Design LLC increased its holdings in shares of Veeva Systems by 3,375.0% in 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. increased 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 period. Harvest Fund Management Co. Ltd purchased a new stake in Veeva Systems in the 3rd quarter valued at $49,000. Finally, Fairscale Capital LLC acquired a new stake in Veeva Systems during the 2nd quarter worth $46,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

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.