Piper Sandler Has Lowered Expectations for Veeva Systems (NYSE:VEEV) Stock Price

Veeva Systems (NYSE:VEEV) had its price target dropped by Piper Sandler from $290.00 to $255.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price objective indicates a potential upside of 12.00% from the company’s previous close.

A number of other research firms also recently issued reports on VEEV. Stephens reissued an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Truist Financial upped their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a report on Thursday, March 6th. KeyCorp reduced their target price 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. Finally, StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $254.92.

Veeva Systems Stock Up 3.2 %

Veeva Systems stock opened at $227.68 on Wednesday. The firm has a 50 day moving average price of $226.08 and a 200-day moving average price of $223.73. Veeva Systems has a twelve month low of $170.25 and a twelve month high of $258.93. The company has a market capitalization of $37.04 billion, a P/E ratio of 56.22, a P/E/G ratio of 1.89 and a beta of 1.05.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $216.83, for a total transaction of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the sale, the senior vice president now directly owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Veeva Systems

A number of institutional investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB boosted its position in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at about $25,000. ORG Partners LLC purchased a new stake in shares of Veeva Systems during the first quarter worth about $26,000. Smithfield Trust Co grew its stake in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after purchasing an additional 80 shares during the last quarter. Finally, Avion Wealth increased its holdings in Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

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.