Veeva Systems Inc. (NYSE:VEEV) Receives $256.52 Average PT from Brokerages

Veeva Systems Inc. (NYSE:VEEV) has received an average recommendation of “Moderate Buy” from the twenty-five brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $256.52.

VEEV has been the topic of a number of research reports. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Truist Financial upped their target price on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research note on Thursday, March 6th. Morgan Stanley raised their target price on Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a report on Thursday, March 6th. KeyCorp decreased their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Citigroup raised their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, December 9th.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Veeva Systems

Several large investors have recently modified their holdings of the business. Versant Capital Management Inc boosted its position in shares of Veeva Systems by 374.7% during the 1st quarter. Versant Capital Management Inc now owns 375 shares of the technology company’s stock worth $87,000 after purchasing an additional 296 shares during the period. Cullen Investment Group LTD. acquired a new position in Veeva Systems during the first quarter worth $1,724,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Veeva Systems by 61.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the technology company’s stock valued at $44,000 after buying an additional 73 shares during the period. 111 Capital purchased a new position in Veeva Systems during the 4th quarter valued at about $678,000. Finally, NorthCrest Asset Manangement LLC increased its stake in Veeva Systems by 2.1% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 48,781 shares of the technology company’s stock worth $10,256,000 after purchasing an additional 1,011 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Down 3.6 %

Shares of NYSE VEEV opened at $213.59 on Friday. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93. The business’s 50 day moving average price is $231.73 and its 200 day moving average price is $223.01. The firm has a market cap of $34.75 billion, a P/E ratio of 52.74, 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.