Veeva Systems Inc. (NYSE:VEEV) Receives $227.95 Consensus PT from Analysts

Veeva Systems Inc. (NYSE:VEEV) has received a consensus recommendation of “Moderate Buy” from the twenty brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $227.95.

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a research note on Friday, June 21st. Stifel Nicolaus decreased their price target on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. KeyCorp increased their price objective on Veeva Systems from $232.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Morgan Stanley reduced their target price on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a report on Friday, May 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a report on Friday, May 31st.

Insider Activity at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the transaction, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the sale, the chief financial officer now owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the completion of the sale, the senior vice president now directly owns 10,668 shares in the company, valued at approximately $2,212,756.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,989 shares of company stock worth $4,192,363. 10.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Veeva Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Advisor Networks LLC lifted its stake in shares of Veeva Systems by 30.2% during the first quarter. Cetera Advisor Networks LLC now owns 57,352 shares of the technology company’s stock valued at $13,288,000 after acquiring an additional 13,305 shares during the period. Cetera Advisors LLC grew its holdings in Veeva Systems by 199.0% during the first quarter. Cetera Advisors LLC now owns 17,118 shares of the technology company’s stock valued at $3,966,000 after purchasing an additional 11,393 shares during the period. Cetera Investment Advisers increased its stake in Veeva Systems by 284.3% during the 1st quarter. Cetera Investment Advisers now owns 86,405 shares of the technology company’s stock worth $20,019,000 after purchasing an additional 63,922 shares in the last quarter. Swedbank AB bought a new position in Veeva Systems in the first quarter valued at approximately $227,673,000. Finally, Virtu Financial LLC acquired a new stake in shares of Veeva Systems in the 1st quarter valued at about $323,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Down 1.2 %

Shares of NYSE VEEV opened at $183.01 on Thursday. The stock has a market cap of $29.58 billion, a P/E ratio of 53.99, a P/E/G ratio of 1.81 and a beta of 0.80. The firm’s 50-day simple moving average is $194.68 and its 200 day simple moving average is $205.08. Veeva Systems has a fifty-two week low of $162.72 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The company had revenue of $650.35 million during the quarter, compared to analyst estimates of $641.73 million. On average, sell-side analysts anticipate that Veeva Systems will post 4.19 earnings per share for the current fiscal year.

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.