Analysts Set Veeva Systems Inc. (NYSE:VEEV) Target Price at $253.96

Veeva Systems Inc. (NYSE:VEEV) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $253.96.

A number of research firms have weighed in on VEEV. Scotiabank increased their target price on shares of Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. Morgan Stanley lifted their target price on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Mizuho initiated coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target on the stock. Barclays increased their price target on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, StockNews.com lowered Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday.

Veeva Systems Stock Down 0.9 %

Shares of Veeva Systems stock opened at $237.16 on Friday. The firm’s 50-day moving average price is $224.48 and its two-hundred day moving average price is $214.55. The company has a market capitalization of $38.50 billion, a price-to-earnings ratio of 58.56, a PEG ratio of 1.97 and a beta of 0.85. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’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 transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Veeva Systems

Institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its holdings in Veeva Systems by 7.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 17,676 shares of the technology company’s stock valued at $3,716,000 after acquiring an additional 1,227 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in Veeva Systems by 29,760.5% in the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock valued at $220,489,000 after buying an additional 1,045,188 shares during the period. Clare Market Investments LLC acquired a new position in shares of Veeva Systems during the fourth quarter worth about $296,000. Independent Advisor Alliance boosted its stake in shares of Veeva Systems by 4.3% in the fourth quarter. Independent Advisor Alliance now owns 2,181 shares of the technology company’s stock valued at $459,000 after purchasing an additional 89 shares during the period. Finally, Gallagher Capital Advisors LLC acquired a new stake in Veeva Systems during the 4th quarter valued at approximately $1,259,000. 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.