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

Veeva Systems Inc. (NYSE:VEEV – Get Rating) has received an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are presently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $203.59.

VEEV has been the topic of several recent research reports. KeyCorp cut their target price on Veeva Systems from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, March 3rd. Raymond James dropped their price objective on Veeva Systems from $215.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 17th. Piper Sandler upped their price target on shares of Veeva Systems from $204.00 to $212.00 in a report on Thursday, March 2nd. TD Cowen increased their target price on Veeva Systems from $184.00 to $189.00 and gave the company a “market perform” rating in a research note on Monday. Finally, SVB Leerink cut their price target on shares of Veeva Systems from $242.00 to $233.00 and set an “outperform” rating for the company in a research report on Friday, December 2nd.

Veeva Systems Price Performance

Veeva Systems stock opened at $169.36 on Friday. The stock’s fifty day moving average price is $168.79 and its two-hundred day moving average price is $172.14. Veeva Systems has a one year low of $151.02 and a one year high of $232.26. The firm has a market cap of $26.37 billion, a PE ratio of 56.27, a price-to-earnings-growth ratio of 4.02 and a beta of 0.90.

Insider Buying and Selling

In other news, CEO Peter P. Gassner sold 42,304 shares of the stock in a transaction on Friday, December 16th. The shares were sold at an average price of $168.22, for a total value of $7,116,378.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Veeva Systems news, Director Matthew J. Wallach sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $159.80, for a total transaction of $1,598,000.00. Following the sale, the director now directly owns 2,846 shares in the company, valued at approximately $454,790.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter P. Gassner sold 42,304 shares of Veeva Systems stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $168.22, for a total transaction of $7,116,378.88. The disclosure for this sale can be found here. In the last three months, insiders sold 168,788 shares of company stock valued at $28,373,785. Company insiders own 13.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VEEV. Sigma Planning Corp boosted its stake in Veeva Systems by 1.2% in the 2nd quarter. Sigma Planning Corp now owns 4,473 shares of the technology company’s stock worth $886,000 after purchasing an additional 52 shares during the period. Perigon Wealth Management LLC increased its position in Veeva Systems by 4.5% during the second quarter. Perigon Wealth Management LLC now owns 1,292 shares of the technology company’s stock valued at $256,000 after acquiring an additional 56 shares during the last quarter. Mizuho Securities Co. Ltd. increased its position in Veeva Systems by 42.9% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the technology company’s stock valued at $51,000 after acquiring an additional 60 shares during the last quarter. AdvisorNet Financial Inc increased its position in Veeva Systems by 15.0% in the fourth quarter. AdvisorNet Financial Inc now owns 468 shares of the technology company’s stock worth $76,000 after buying an additional 61 shares in the last quarter. Finally, Penserra Capital Management LLC increased its position in Veeva Systems by 9.3% in the fourth quarter. Penserra Capital Management LLC now owns 729 shares of the technology company’s stock worth $117,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 78.76% of the company’s stock.

Veeva Systems Company Profile

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Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.