Veeva Systems (NYSE:VEEV) Price Target Raised to $195.00

Veeva Systems (NYSE:VEEV) had its price target lifted by Morgan Stanley from $183.00 to $195.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. Barclays increased their price objective on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Scotiabank raised their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Raymond James increased their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Piper Sandler raised their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company boosted their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $256.58.

Veeva Systems Trading Down 0.8 %

Shares of NYSE VEEV opened at $219.67 on Tuesday. The company has a fifty day moving average price of $222.73 and a 200 day moving average price of $204.84. The firm has a market cap of $35.66 billion, a PE ratio of 54.24, a PEG ratio of 2.03 and a beta of 0.82. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $258.93.

Insider Activity at Veeva Systems

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 stock was 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 of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VEEV. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems in the third quarter valued at approximately $26,000. True Wealth Design LLC lifted its position in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares during the period. Blue Trust Inc. grew its holdings in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC bought a new position in shares of Veeva Systems in the second quarter worth $35,000. Finally, Fairscale Capital LLC acquired a new position in Veeva Systems in the second quarter valued at about $46,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

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.