Brokerages Set Veeva Systems Inc. (NYSE:VEEV) Price Target at $256.52

Shares of Veeva Systems Inc. (NYSE:VEEV) have been given an average rating of “Moderate Buy” by the twenty-five research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $256.52.

Several research firms have commented on VEEV. Canaccord Genuity Group boosted their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Mizuho started coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target for the company. The Goldman Sachs Group cut shares of Veeva Systems from a “buy” rating to a “sell” rating and cut their price target for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Morgan Stanley upped their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research report on Thursday, March 6th.

Institutional Trading of Veeva Systems

Several hedge funds have recently bought and sold shares of VEEV. Cardinal Capital Management boosted its holdings in Veeva Systems by 0.3% during the fourth quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock worth $3,307,000 after purchasing an additional 44 shares during the last quarter. Johnson Financial Group Inc. increased its holdings in shares of Veeva Systems by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company’s stock valued at $56,000 after purchasing an additional 44 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Veeva Systems by 0.7% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 6,975 shares of the technology company’s stock valued at $1,467,000 after purchasing an additional 51 shares during the period. Finally, CHICAGO TRUST Co NA increased its position in Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company’s stock worth $395,000 after acquiring an additional 53 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Down 1.1 %

Veeva Systems stock opened at $231.65 on Friday. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93. The company’s fifty day simple moving average is $231.92 and its 200-day simple moving average is $222.95. The stock has a market cap of $37.61 billion, a P/E ratio of 57.20, a P/E/G ratio of 1.89 and a beta of 0.88.

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.