Veeva Systems (NYSE:VEEV) Price Target Raised to $290.00

Veeva Systems (NYSE:VEEV) had its price target raised by Piper Sandler from $280.00 to $290.00 in a report released on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

Other analysts have also recently issued reports about the company. Raymond James raised their target price on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. BNP Paribas started coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective for the company. Truist Financial raised their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. Mizuho assumed coverage on Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. Finally, UBS Group increased their price target on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus target price of $254.04.

Veeva Systems Stock Up 8.1 %

NYSE:VEEV opened at $250.45 on Friday. The company has a market cap of $40.56 billion, a PE ratio of 61.84, a P/E/G ratio of 2.43 and a beta of 0.82. Veeva Systems has a 52 week low of $165.12 and a 52 week high of $258.93. The business’s 50 day moving average is $218.29 and its two-hundred day moving average is $202.83.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 1,694 shares of the firm’s 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 of the company’s stock, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VEEV. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems during the third quarter worth approximately $26,000. True Wealth Design LLC boosted its stake in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Blue Trust Inc. boosted its stake in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. DT Investment Partners LLC bought a new position in Veeva Systems during the 2nd quarter worth $35,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Veeva Systems during the third quarter worth $49,000. 88.20% of the stock is owned by institutional investors and hedge funds.

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.