Veeva Systems Inc. (NYSE:VEEV) Receives $227.95 Average Price Target from Analysts

Veeva Systems Inc. (NYSE:VEEV) has been assigned an average rating of “Moderate Buy” from the twenty analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $227.95.

A number of brokerages recently weighed in on VEEV. Bank of America lowered their price target on shares of Veeva Systems from $240.00 to $204.00 and set a “neutral” rating for the company in a report on Friday, May 31st. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Jefferies Financial Group lifted their price objective on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Barclays cut their target price on shares of Veeva Systems from $245.00 to $220.00 and set an “overweight” rating on the stock in a research report on Friday, May 31st. Finally, Morgan Stanley lowered their price target on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research report on Friday, May 31st.

Veeva Systems Stock Down 0.8 %

Shares of VEEV stock opened at $181.53 on Thursday. The company has a market capitalization of $29.34 billion, a P/E ratio of 53.59, a P/E/G ratio of 1.79 and a beta of 0.80. Veeva Systems has a 12-month low of $162.72 and a 12-month high of $236.90. The firm has a 50-day moving average price of $194.68 and a 200 day moving average price of $205.28.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The business had revenue of $650.35 million for the quarter, compared to the consensus estimate of $641.73 million. As a group, research analysts expect that Veeva Systems will post 4.19 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now directly owns 10,668 shares in the company, valued at $2,212,756.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,989 shares of company stock valued at $4,192,363. Company insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Cetera Advisor Networks LLC boosted its position in Veeva Systems by 30.2% during the 1st quarter. Cetera Advisor Networks LLC now owns 57,352 shares of the technology company’s stock worth $13,288,000 after acquiring an additional 13,305 shares during the last quarter. Cetera Advisors LLC boosted its holdings in Veeva Systems by 199.0% during the first quarter. Cetera Advisors LLC now owns 17,118 shares of the technology company’s stock worth $3,966,000 after purchasing an additional 11,393 shares during the last quarter. Cetera Investment Advisers grew its position in Veeva Systems by 284.3% in the first quarter. Cetera Investment Advisers now owns 86,405 shares of the technology company’s stock valued at $20,019,000 after purchasing an additional 63,922 shares in the last quarter. Swedbank AB acquired a new stake in Veeva Systems in the 1st quarter valued at $227,673,000. Finally, Virtu Financial LLC acquired a new position in shares of Veeva Systems during the 1st quarter worth about $323,000. 88.20% of the stock is currently owned by institutional investors.

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.