Veeva Systems (NYSE:VEEV) Price Target Lowered to $255.00 at KeyCorp

Veeva Systems (NYSE:VEEV) had its target price dropped by research analysts at KeyCorp from $285.00 to $255.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective indicates a potential upside of 17.22% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird lifted their target price on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. BNP Paribas assumed 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. Piper Sandler increased their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Mizuho began coverage on shares of Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target for the company. Finally, Canaccord Genuity Group increased their price target on Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $257.63.

Veeva Systems Trading Up 2.7 %

Shares of NYSE VEEV opened at $217.54 on Wednesday. The firm has a market cap of $35.32 billion, a P/E ratio of 53.71, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The business’s 50 day moving average is $222.86 and its 200-day moving average is $208.23. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $258.93.

Insider Activity at Veeva Systems

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

Institutional Trading of Veeva Systems

Several institutional investors have recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems during the third quarter worth about $26,000. True Wealth Design LLC boosted its stake in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of Veeva Systems in the 2nd quarter worth approximately $46,000. Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems in the third quarter valued at approximately $49,000. Finally, Quent Capital LLC increased its position in shares of Veeva Systems by 794.1% during the third quarter. Quent Capital LLC now owns 304 shares of the technology company’s stock valued at $64,000 after acquiring an additional 270 shares during the last quarter. 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.