Veeva Systems (NYSE:VEEV) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Veeva Systems (NYSE:VEEV) had its price objective hoisted by Canaccord Genuity Group from $210.00 to $270.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 16.55% from the stock’s current price.

VEEV has been the subject of several other reports. UBS Group increased their price target on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Truist Financial increased their target price on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Finally, Barclays increased their price objective on shares of Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $243.16.

Veeva Systems Stock Down 2.6 %

VEEV opened at $231.66 on Friday. The stock has a market cap of $37.51 billion, a P/E ratio of 61.78, a P/E/G ratio of 2.20 and a beta of 0.82. Veeva Systems has a 12 month low of $165.12 and a 12 month high of $240.68. The company has a fifty day simple moving average of $217.50 and a 200 day simple moving average of $202.61.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Veeva Systems by 0.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after purchasing an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after acquiring an additional 50 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Veeva Systems by 0.4% during the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after acquiring an additional 52 shares during the period. Park Place Capital Corp grew its holdings in shares of Veeva Systems by 11.5% during the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after purchasing an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its position in shares of Veeva Systems by 13.4% in the third quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock worth $108,000 after purchasing an additional 61 shares during the period. 88.20% of the stock is 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.