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

Shares of Veeva Systems Inc. (NYSE:VEEV) have received an average recommendation of “Moderate Buy” from the twenty-five research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $301.48.

A number of research firms have recently issued reports on VEEV. Needham & Company LLC boosted their price target on shares of Veeva Systems from $300.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, August 28th. Truist Financial increased their target price on shares of Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a research report on Thursday, August 28th. Wells Fargo & Company raised their target price on shares of Veeva Systems from $300.00 to $326.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Barclays lifted their price objective on shares of Veeva Systems from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Finally, Mizuho lifted their price objective on shares of Veeva Systems from $295.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, August 29th.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 720 shares of the firm’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the transaction, the senior vice president directly owned 7,902 shares in the company, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Priscilla Hung sold 172 shares of Veeva Systems stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $283.00, for a total value of $48,676.00. Following the sale, the director owned 4,137 shares in the company, valued at $1,170,771. The trade was a 3.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,063 shares of company stock valued at $302,955 in the last three months. Company insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Abound Financial LLC purchased a new position in shares of Veeva Systems during the first quarter worth about $25,000. ORG Partners LLC bought a new stake in Veeva Systems in the first quarter valued at approximately $26,000. Trust Co. of Toledo NA OH bought a new position in shares of Veeva Systems during the second quarter valued at approximately $29,000. Golden State Wealth Management LLC raised its holdings in shares of Veeva Systems by 152.9% during the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Veeva Systems during the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.8%

Shares of NYSE:VEEV opened at $276.98 on Friday. The company has a 50-day moving average price of $280.65 and a 200 day moving average price of $258.99. Veeva Systems has a 52 week low of $200.30 and a 52 week high of $296.72. The company has a market cap of $45.40 billion, a P/E ratio of 56.87, a PEG ratio of 2.17 and a beta of 0.95.

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.