Veeva Systems (NYSE:VEEV) Receives “Overweight” Rating from Stephens

Veeva Systems (NYSE:VEEV)‘s stock had its “overweight” rating reissued by research analysts at Stephens in a research note issued on Thursday,Benzinga reports. They currently have a $280.00 price objective on the technology company’s stock. Stephens’ target price would suggest a potential upside of 18.88% from the company’s previous close.

Several other research firms also recently weighed in on VEEV. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Canaccord Genuity Group lifted their price objective on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a report on Friday, December 6th. Wells Fargo & Company lifted their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Citigroup lifted their price objective on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada lifted their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.80.

Veeva Systems Trading Up 7.1 %

NYSE:VEEV opened at $235.53 on Thursday. Veeva Systems has a twelve month low of $170.25 and a twelve month high of $258.93. The company has a market cap of $38.24 billion, a price-to-earnings ratio of 57.79, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The stock has a fifty day simple moving average of $223.82 and a 200-day simple moving average of $219.54.

Institutional Trading of Veeva Systems

Several large investors have recently made changes to their positions in the business. General American Investors Co. Inc. acquired a new position in Veeva Systems during the third quarter worth $5,133,000. Toronto Dominion Bank raised its position in Veeva Systems by 39.1% during the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock worth $4,235,000 after acquiring an additional 5,673 shares during the period. Principal Financial Group Inc. raised its position in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the period. Oppenheimer Asset Management Inc. raised its position in Veeva Systems by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after acquiring an additional 2,733 shares during the period. Finally, Assetmark Inc. raised its position in shares of Veeva Systems by 46.4% in the third quarter. Assetmark Inc. now owns 48,205 shares of the technology company’s stock valued at $10,117,000 after buying an additional 15,289 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

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.