Veeva Systems (NYSE:VEEV) Price Target Raised to $280.00 at Piper Sandler

Veeva Systems (NYSE:VEEV) had its target price hoisted by Piper Sandler from $230.00 to $280.00 in a research report report published on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on VEEV. BNP Paribas initiated coverage on Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price objective for the company. Bank of America increased their price objective on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. TD Cowen lifted their target price on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Truist Financial upped their price objective on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Finally, Raymond James lifted their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $237.00.

Veeva Systems Price Performance

Shares of Veeva Systems stock traded up $11.61 during trading on Friday, hitting $235.00. 2,472,493 shares of the company’s stock traded hands, compared to its average volume of 943,623. The business has a 50-day simple moving average of $213.98 and a 200-day simple moving average of $199.75. The stock has a market capitalization of $38.05 billion, a P/E ratio of 62.67, a PEG ratio of 2.10 and a beta of 0.81. Veeva Systems has a 1 year low of $162.72 and a 1 year high of $240.68.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The firm had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. On average, equities analysts predict that Veeva Systems will post 4.21 earnings per share for the current fiscal year.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

A number of institutional investors have recently made changes to their positions in VEEV. Moran Wealth Management LLC grew its holdings in Veeva Systems by 3.3% during the third quarter. Moran Wealth Management LLC now owns 62,758 shares of the technology company’s stock worth $13,171,000 after buying an additional 2,022 shares in the last quarter. Retireful LLC purchased a new position in Veeva Systems during the third quarter valued at approximately $905,000. NS Partners Ltd raised its stake in Veeva Systems by 2.1% in the third quarter. NS Partners Ltd now owns 70,078 shares of the technology company’s stock valued at $14,707,000 after purchasing an additional 1,435 shares in the last quarter. Commerce Bank increased its stake in Veeva Systems by 4.4% in the third quarter. Commerce Bank now owns 6,330 shares of the technology company’s stock valued at $1,328,000 after acquiring an additional 265 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Veeva Systems by 5.4% during the third quarter. PNC Financial Services Group Inc. now owns 30,188 shares of the technology company’s stock worth $6,336,000 after acquiring an additional 1,553 shares in the last quarter. Institutional investors 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.