Robert W. Baird Lowers Veeva Systems (NYSE:VEEV) Price Target to $245.00

Veeva Systems (NYSE:VEEV) had its target price reduced by research analysts at Robert W. Baird from $251.00 to $245.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price points to a potential upside of 15.44% from the company’s previous close.

Other analysts have also issued research reports about the company. Barclays upped their price objective on Veeva Systems from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Bank of America boosted their price objective on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. BNP Paribas assumed coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price on the stock. Truist Financial boosted 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and a consensus target price of $232.87.

Veeva Systems Stock Down 0.2 %

NYSE:VEEV opened at $212.23 on Monday. Veeva Systems has a 52 week low of $162.72 and a 52 week high of $236.90. The stock’s fifty day moving average is $211.08 and its two-hundred day moving average is $198.72. The stock has a market capitalization of $34.37 billion, a price-to-earnings ratio of 56.59, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. On average, sell-side analysts expect that Veeva Systems will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

A number of institutional investors have recently added to or reduced their stakes in the business. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at approximately $26,000. Advisors Asset Management Inc. acquired a new stake in Veeva Systems in the first quarter valued at $28,000. Blue Trust Inc. boosted its position in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC acquired a new position in shares of Veeva Systems during the 2nd quarter worth $35,000. Finally, Larson Financial Group LLC increased its holdings in shares of Veeva Systems by 1,153.8% in the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

About Veeva Systems

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.