Veeva Systems Inc. (NYSE:VEEV) Receives Average Rating of “Moderate Buy” from Brokerages

Veeva Systems Inc. (NYSE:VEEVGet Rating) has received a consensus rating of “Moderate Buy” from the twenty-five ratings firms that are presently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $208.65.

Several equities research analysts have recently commented on the company. KeyCorp decreased their price objective on Veeva Systems from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, December 5th. Cowen assumed coverage on Veeva Systems in a research report on Tuesday, December 6th. They issued a “market perform” rating and a $184.00 price objective on the stock. Piper Sandler cut their price objective on Veeva Systems from $220.00 to $204.00 and set an “overweight” rating on the stock in a research report on Monday, January 9th. StockNews.com cut Veeva Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, December 13th. Finally, Barclays raised Veeva Systems from an “equal weight” rating to an “overweight” rating and set a $205.00 price objective on the stock in a report on Wednesday, January 4th.

Veeva Systems Trading Down 2.1 %

Shares of VEEV stock opened at $160.27 on Thursday. The business’s 50-day moving average price is $172.39 and its 200-day moving average price is $183.07. Veeva Systems has a 12 month low of $151.02 and a 12 month high of $239.67. The firm has a market capitalization of $24.95 billion, a price-to-earnings ratio of 65.42, a PEG ratio of 4.16 and a beta of 0.89.

Veeva Systems (NYSE:VEEVGet Rating) last posted its quarterly earnings data on Thursday, December 1st. The technology company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The company had revenue of $552.35 million for the quarter, compared to analyst estimates of $545.78 million. Veeva Systems had a return on equity of 12.81% and a net margin of 19.08%. On average, sell-side analysts predict that Veeva Systems will post 2.52 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Michele O’connor sold 7,400 shares of Veeva Systems stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $163.11, for a total value of $1,207,014.00. Following the sale, the chief accounting officer now directly owns 8,676 shares of the company’s stock, valued at $1,415,142.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Veeva Systems news, CAO Michele O’connor sold 7,400 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $163.11, for a total transaction of $1,207,014.00. Following the sale, the chief accounting officer now directly owns 8,676 shares of the company’s stock, valued at $1,415,142.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew J. Wallach sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $169.49, for a total value of $1,694,900.00. Following the transaction, the director now directly owns 2,546 shares in the company, valued at approximately $431,521.54. The disclosure for this sale can be found here. Insiders have sold 318,610 shares of company stock worth $53,401,824 over the last ninety days. Corporate insiders own 13.23% of the company’s stock.

Institutional Trading of Veeva Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC boosted its stake in shares of Veeva Systems by 4.2% during the 4th quarter. Private Advisor Group LLC now owns 6,052 shares of the technology company’s stock worth $347,919,000 after acquiring an additional 242 shares in the last quarter. Maryland State Retirement & Pension System purchased a new position in Veeva Systems in the 4th quarter worth approximately $1,729,000. Sequoia Financial Advisors LLC lifted its stake in Veeva Systems by 37.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,747 shares of the technology company’s stock worth $282,000 after purchasing an additional 479 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Veeva Systems by 1.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 11,559 shares of the technology company’s stock worth $1,865,000 after buying an additional 160 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning increased its holdings in Veeva Systems by 13.3% in the 4th quarter. Handelsinvest Investeringsforvaltning now owns 7,989 shares of the technology company’s stock valued at $1,289,000 after purchasing an additional 938 shares during the last quarter. Hedge funds and other institutional investors own 78.76% of the company’s stock.

Veeva Systems Company Profile

(Get Rating)

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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