Veeva Systems (NYSE:VEEV) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Veeva Systems (NYSE:VEEV) from a hold rating to a buy rating in a research report report published on Monday.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird lifted their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Morgan Stanley lifted their price objective on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. KeyCorp reduced 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 report on Wednesday, January 8th. Truist Financial reduced 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 report on Monday, January 13th. Finally, Mizuho started coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Trading Down 0.0 %

NYSE:VEEV opened at $234.09 on Monday. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $258.93. The firm has a fifty day simple moving average of $224.48 and a 200 day simple moving average of $216.29. The stock has a market capitalization of $38.00 billion, a PE ratio of 57.80, a P/E/G ratio of 1.97 and a beta of 0.85.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Veeva Systems

A number of institutional investors have recently modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB grew its stake in Veeva Systems by 72.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Centricity Wealth Management LLC bought a new position in Veeva Systems in the 4th quarter valued at $25,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Veeva Systems in the 3rd quarter valued at $26,000. Smithfield Trust Co grew its stake in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares during the period. Finally, True Wealth Design LLC grew its stake in 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 purchasing an additional 135 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

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.