Veeva Systems (NYSE:VEEV) Given New $249.00 Price Target at JPMorgan Chase & Co.

Veeva Systems (NYSE:VEEV) had its price objective hoisted by JPMorgan Chase & Co. from $218.00 to $249.00 in a report published on Thursday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other research firms have also recently weighed in on VEEV. 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 report on Thursday, January 23rd. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Morgan Stanley boosted their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday, March 6th. Stephens reiterated an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Finally, Canaccord Genuity Group boosted their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Stock Performance

Veeva Systems stock opened at $236.98 on Thursday. Veeva Systems has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The stock has a market cap of $38.47 billion, a PE ratio of 58.51, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The firm’s 50-day simple moving average is $229.24 and its 200 day simple moving average is $222.22.

Institutional Trading of Veeva Systems

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