Veeva Systems Inc. (NYSE:VEEV) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV) have been assigned an average recommendation of “Moderate Buy” from the twenty analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $234.90.

Several equities research analysts have recently commented on VEEV shares. Piper Sandler boosted their price target on Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Truist Financial upped their target price on Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a report on Friday, March 1st. Jefferies Financial Group lifted their price target on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Finally, UBS Group lifted their target price on shares of Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th.

Insider Activity

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at approximately $4,415,505.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the sale, the senior vice president now directly owns 10,668 shares in the company, valued at approximately $2,212,756.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alan Mateo sold 3,391 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at $4,415,505.38. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock valued at $4,818,013 over the last quarter. Company insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in VEEV. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Veeva Systems by 8.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,171 shares of the technology company’s stock valued at $6,952,000 after purchasing an additional 2,698 shares during the period. IFM Investors Pty Ltd raised its holdings in shares of Veeva Systems by 5.2% during the 3rd quarter. IFM Investors Pty Ltd now owns 27,839 shares of the technology company’s stock valued at $5,664,000 after buying an additional 1,380 shares during the period. Advisor Partners II LLC lifted its position in Veeva Systems by 81.1% during the 3rd quarter. Advisor Partners II LLC now owns 2,093 shares of the technology company’s stock worth $426,000 after acquiring an additional 937 shares in the last quarter. TD Asset Management Inc boosted its holdings in Veeva Systems by 14.8% in the 3rd quarter. TD Asset Management Inc now owns 819,406 shares of the technology company’s stock worth $166,708,000 after acquiring an additional 105,816 shares during the period. Finally, Assetmark Inc. boosted its holdings in Veeva Systems by 3.1% in the 3rd quarter. Assetmark Inc. now owns 28,137 shares of the technology company’s stock worth $5,724,000 after acquiring an additional 842 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Trading Up 1.1 %

NYSE VEEV opened at $205.31 on Wednesday. The stock has a market capitalization of $33.12 billion, a price-to-earnings ratio of 63.76, a PEG ratio of 2.05 and a beta of 0.76. The business’s 50 day moving average is $216.61 and its two-hundred day moving average is $202.11. Veeva Systems has a 12-month low of $160.21 and a 12-month high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The business had revenue of $630.62 million for the quarter, compared to analysts’ expectations of $620.75 million. Equities analysts forecast that Veeva Systems will post 4.11 earnings per share for the current fiscal year.

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.