Veeva Systems Inc. (NYSE:VEEV) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Veeva Systems Inc. (NYSE:VEEV) have earned an average rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $256.32.

A number of equities analysts recently weighed in on VEEV shares. Robert W. Baird increased their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Truist Financial lifted their target price on Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research report on Thursday, March 6th. Stephens reissued an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Morgan Stanley upped their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research note on Thursday, March 6th. Finally, KeyCorp dropped their price target on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the firm’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the transaction, the insider now directly owns 25,889 shares of the company’s stock, valued at $5,720,692.33. This trade represents a 4.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares of the company’s stock, valued at $1,192,565. The trade was a 41.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,869 shares of company stock valued at $1,284,917. 10.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after buying an additional 1,267,061 shares during the last quarter. Barclays PLC grew its stake in Veeva Systems by 18.2% during the 3rd quarter. Barclays PLC now owns 185,206 shares of the technology company’s stock valued at $38,870,000 after purchasing an additional 28,497 shares in the last quarter. Tudor Financial Inc. acquired a new stake in Veeva Systems during the 3rd quarter valued at approximately $265,000. World Investment Advisors LLC purchased a new stake in Veeva Systems during the 3rd quarter worth approximately $2,131,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Veeva Systems during the 3rd quarter valued at approximately $168,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Trading Up 2.7 %

Shares of NYSE:VEEV opened at $215.85 on Wednesday. The business has a 50-day moving average price of $226.48 and a 200 day moving average price of $223.57. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a market capitalization of $35.12 billion, a price-to-earnings ratio of 53.30, a PEG ratio of 1.89 and a beta of 1.05.

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.