Veeva Systems Inc. (NYSE:VEEV) Given Consensus Rating of “Moderate Buy” by Analysts

Veeva Systems Inc. (NYSE:VEEV) has earned an average recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $234.90.

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on Veeva Systems from $240.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. lifted their target price on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a research note on Thursday, February 22nd. Raymond James reaffirmed an “outperform” rating and set a $260.00 target price on shares of Veeva Systems in a research note on Tuesday, March 26th. Finally, Citigroup lifted their target price on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research note on Friday, March 1st.

Insiders Place Their Bets

In other news, COO Thomas D. Schwenger sold 1,238 shares of Veeva Systems stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the sale, the chief operating officer now directly owns 24,342 shares in the company, valued at $5,112,306.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total transaction of $260,004.76. Following the transaction, the chief operating officer now owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The disclosure for this sale can be found here. Insiders sold 19,836 shares of company stock worth $4,396,902 over the last three months. Insiders own 10.98% of the company’s stock.

Institutional Trading of Veeva Systems

A number of hedge funds and other institutional investors have recently modified their holdings of VEEV. Facet Wealth Inc. grew its stake in shares of Veeva Systems by 3.2% in the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock worth $323,000 after purchasing an additional 48 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Veeva Systems by 2.5% in the third quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock worth $428,000 after purchasing an additional 51 shares during the last quarter. NewEdge Wealth LLC grew its stake in shares of Veeva Systems by 0.6% in the third quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company’s stock worth $2,047,000 after purchasing an additional 60 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Veeva Systems by 3.5% in the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock worth $342,000 after purchasing an additional 60 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its stake in shares of Veeva Systems by 5.9% in the third quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock worth $222,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $198.37 on Friday. The company has a market capitalization of $32.00 billion, a P/E ratio of 61.61, a P/E/G ratio of 2.02 and a beta of 0.74. Veeva Systems has a one year low of $160.21 and a one year high of $236.90. The stock has a 50-day moving average price of $221.17 and a 200 day moving average price of $202.80.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11. The company had revenue of $630.62 million during the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. As a group, equities research analysts forecast that Veeva Systems will post 4.11 earnings per share for the current fiscal year.

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.