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

Shares of Veeva Systems Inc. (NYSE:VEEV) have earned a consensus recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, Marketbeat.com reports. Two 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 1 year price objective among brokerages that have covered the stock in the last year is $254.92.

VEEV has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $270.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Morgan Stanley boosted their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research report on Thursday, March 6th. Robert W. Baird boosted their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. KeyCorp dropped their price target on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, Stephens reiterated an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th.

Insider Activity

In other news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares of the company’s stock, valued at $1,960,701.60. This represents a 8.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 3,882 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $1,192,565. This trade represents a 41.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 in the last quarter. Insiders own 10.30% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

Hedge funds have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its stake 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 worth $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Veeva Systems during the 4th quarter worth about $25,000. Abound Financial LLC acquired a new position in Veeva Systems during the 1st quarter worth about $25,000. ORG Partners LLC acquired a new position in Veeva Systems during the 1st quarter worth about $26,000. Finally, Smithfield Trust Co lifted its stake in Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $242.48 on Friday. The stock has a market capitalization of $39.45 billion, a PE ratio of 59.87, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93. The business has a 50 day simple moving average of $228.63 and a 200-day simple moving average of $226.29.

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.