Veeva Systems (NYSE:VEEV) Raised to Buy at StockNews.com

Veeva Systems (NYSE:VEEV) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company increased their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Mizuho assumed coverage on Veeva Systems in a research note on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price for the company. Canaccord Genuity Group upped their price target on Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Evercore ISI upped their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th. Finally, Robert W. Baird boosted their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.96.

Veeva Systems Stock Performance

Shares of VEEV stock traded down $0.06 on Monday, hitting $234.09. 853,426 shares of the stock traded hands, compared to its average volume of 1,002,875. Veeva Systems has a twelve month low of $170.25 and a twelve month high of $258.93. The firm’s 50-day moving average price is $224.48 and its two-hundred day moving average price is $216.29. The stock has a market capitalization of $38.00 billion, a PE ratio of 57.80, a PEG ratio of 1.97 and a beta of 0.85.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the business’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 transaction, the senior vice president now directly owns 8,061 shares in the company, 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 legal filing with the SEC, which is available through this link. Insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

A number of large investors have recently modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB increased its holdings in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in Veeva Systems in the 4th quarter valued at approximately $25,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems during the third quarter worth $26,000. Smithfield Trust Co grew its holdings in Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares during the last quarter. Finally, True Wealth Design LLC increased its position in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

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.