Truist Financial Raises Veeva Systems (NYSE:VEEV) Price Target to $207.00

Veeva Systems (NYSE:VEEV) had its price target increased by Truist Financial from $197.00 to $207.00 in a report released on Tuesday, Benzinga reports. They currently have a hold rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on VEEV. Robert W. Baird increased their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the company an outperform rating in a research note on Thursday, August 29th. UBS Group increased their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the company a neutral rating in a research note on Monday, August 26th. Piper Sandler upped their target price on shares of Veeva Systems from $225.00 to $230.00 and gave the company an overweight rating in a report on Thursday, August 29th. Stifel Nicolaus reduced their target price on shares of Veeva Systems from $250.00 to $210.00 and set a buy rating on the stock in a report on Friday, May 31st. Finally, Royal Bank of Canada restated an outperform rating and issued a $250.00 target price on shares of Veeva Systems in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $230.57.

Veeva Systems Stock Performance

Shares of VEEV opened at $215.45 on Tuesday. The stock has a market capitalization of $34.83 billion, a P/E ratio of 63.55, a P/E/G ratio of 2.11 and a beta of 0.81. The company’s fifty day moving average is $191.56 and its two-hundred day moving average is $202.03. Veeva Systems has a 1 year low of $162.72 and a 1 year high of $236.90.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in Veeva Systems in the 2nd quarter worth about $1,231,000. Sycomore Asset Management acquired a new stake in shares of Veeva Systems during the 2nd quarter valued at about $8,298,000. Clearbridge Investments LLC lifted its holdings in shares of Veeva Systems by 0.4% during the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after buying an additional 52 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Veeva Systems during the 2nd quarter valued at about $231,000. Finally, Regal Investment Advisors LLC lifted its holdings in shares of Veeva Systems by 42.9% during the 2nd quarter. Regal Investment Advisors LLC now owns 2,535 shares of the technology company’s stock valued at $464,000 after buying an additional 761 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

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.