Veeva Systems Inc. (NYSE:VEEV) Receives $253.96 Average PT from Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV) have been assigned a consensus rating of “Moderate Buy” from the twenty-seven research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seventeen have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $253.96.

A number of research firms recently commented on VEEV. KeyCorp decreased their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Canaccord Genuity Group raised their target price on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Truist Financial reduced their target price on shares of Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and decreased their price target for the company from $261.00 to $200.00 in a report on Thursday, January 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a report on Friday, January 17th.

Veeva Systems Stock Down 1.4 %

NYSE:VEEV opened at $234.43 on Friday. The firm has a market cap of $38.06 billion, a PE ratio of 57.88, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. The company’s 50-day moving average price is $224.68 and its two-hundred day moving average price is $215.12. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93.

Insider Transactions at Veeva Systems

In related 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Veeva Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VEEV. TD Asset Management Inc. boosted its holdings in shares of Veeva Systems by 6.4% during the 4th quarter. TD Asset Management Inc. now owns 452,553 shares of the technology company’s stock worth $95,149,000 after buying an additional 27,396 shares during the period. Prudential Financial Inc. lifted its position in Veeva Systems by 982.2% during the fourth quarter. Prudential Financial Inc. now owns 122,120 shares of the technology company’s stock worth $25,676,000 after acquiring an additional 110,836 shares during the last quarter. Twin City Private Wealth LLC boosted its holdings in shares of Veeva Systems by 2.9% during the fourth quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company’s stock worth $428,000 after acquiring an additional 58 shares during the period. Cannon Global Investment Management LLC acquired a new position in shares of Veeva Systems in the fourth quarter valued at approximately $778,000. Finally, Stevens Capital Management LP bought a new position in shares of Veeva Systems during the fourth quarter worth approximately $359,000. 88.20% of the stock is owned by 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.