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

Veeva Systems Inc. (NYSE:VEEV) has been given a consensus recommendation of “Moderate Buy” by the twenty-four ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $236.92.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Robert W. Baird cut their price target on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a report on Monday, October 28th. TD Cowen lifted their price objective on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. UBS Group increased their target price on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, BNP Paribas started coverage on Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price target for the company.

Veeva Systems Stock Down 0.1 %

VEEV opened at $226.76 on Friday. Veeva Systems has a 52 week low of $165.12 and a 52 week high of $240.68. The business has a 50 day moving average price of $215.45 and a two-hundred day moving average price of $201.83. The company has a market cap of $36.72 billion, a PE ratio of 60.47, a P/E/G ratio of 2.19 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The business had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. As a group, sell-side analysts expect that Veeva Systems will post 4.21 EPS for the current fiscal year.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,126 shares of the 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 approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

A number of institutional investors and hedge funds have recently bought and sold shares of VEEV. Peapack Gladstone Financial Corp boosted its position in shares of Veeva Systems by 5.6% in the third quarter. Peapack Gladstone Financial Corp now owns 70,147 shares of the technology company’s stock worth $14,721,000 after buying an additional 3,741 shares during the period. Tidal Investments LLC raised its holdings in shares of Veeva Systems by 77.1% during the 3rd quarter. Tidal Investments LLC now owns 22,330 shares of the technology company’s stock valued at $4,686,000 after buying an additional 9,724 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Veeva Systems during the 3rd quarter worth approximately $168,000. World Investment Advisors LLC purchased a new position in Veeva Systems in the 3rd quarter worth approximately $2,131,000. Finally, Sanctuary Advisors LLC grew its position in Veeva Systems by 19.7% in the third quarter. Sanctuary Advisors LLC now owns 7,335 shares of the technology company’s stock valued at $1,589,000 after acquiring an additional 1,206 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

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.