Analysts Set Veeva Systems Inc. (NYSE:VEEV) Target Price at $228.27

Shares of Veeva Systems Inc. (NYSE:VEEV) have been given a consensus rating of “Moderate Buy” by the twenty-two research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $228.27.

Several equities analysts have weighed in on the stock. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. BTIG Research initiated coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target on the stock. Morgan Stanley lowered their target price on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Evercore ISI lowered their target price on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a report on Friday, May 31st. Finally, Barclays lowered their target price on shares of Veeva Systems from $245.00 to $220.00 and set an “overweight” rating on the stock in a report on Friday, May 31st.

Veeva Systems Trading Up 3.2 %

Shares of NYSE VEEV opened at $192.55 on Monday. The firm has a 50 day moving average of $187.20 and a 200 day moving average of $204.58. The firm has a market capitalization of $31.13 billion, a price-to-earnings ratio of 56.80, a price-to-earnings-growth ratio of 1.81 and a beta of 0.80. Veeva Systems has a 12-month low of $162.72 and a 12-month high of $236.90.

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

Insider Activity at Veeva Systems

In other Veeva Systems news, 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 transaction, the chief financial officer now owns 8,391 shares in the company, valued at $1,546,713.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in Veeva Systems during the first quarter valued at $28,000. DSM Capital Partners LLC bought a new position in Veeva Systems during the fourth quarter valued at $29,000. Vermillion & White Wealth Management Group LLC bought a new position in Veeva Systems during the fourth quarter valued at $32,000. Blue Trust Inc. increased its position in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares during the last quarter. Finally, First Financial Corp IN bought a new position in shares of Veeva Systems in the first quarter worth about $35,000. 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.