Veeva Systems (NYSE:VEEV) Coverage Initiated by Analysts at Mizuho

Mizuho began coverage on shares of Veeva Systems (NYSE:VEEV) in a report issued on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $275.00 price objective on the technology company’s stock.

VEEV has been the subject of a number of other reports. Guggenheim upped their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Truist Financial raised their price target on Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. Bank of America boosted their price objective on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird cut their target price on Veeva Systems from $251.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $254.04.

Veeva Systems Stock Up 8.1 %

VEEV stock opened at $250.45 on Wednesday. The business’s 50-day moving average price is $217.50 and its 200-day moving average price is $202.61. The stock has a market cap of $40.56 billion, a P/E ratio of 66.79, a PEG ratio of 2.20 and a beta of 0.82. Veeva Systems has a twelve month low of $165.12 and a twelve month high of $258.93.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VEEV. Patriot Financial Group Insurance Agency LLC lifted its stake in Veeva Systems by 0.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after acquiring an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Veeva Systems by 1.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after purchasing an additional 50 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after purchasing an additional 52 shares in the last quarter. Park Place Capital Corp boosted its stake in shares of Veeva Systems by 11.5% during the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after purchasing an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in Veeva Systems by 13.4% during the third quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock valued at $108,000 after buying an additional 61 shares during the period. Institutional investors 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.