Piper Sandler Boosts Veeva Systems (NYSE:VEEV) Price Target to $230.00

Veeva Systems (NYSE:VEEV) had its target price lifted by equities researchers at Piper Sandler from $225.00 to $230.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price would suggest a potential upside of 15.37% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on VEEV. Truist Financial lowered their price target on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a research note on Friday, June 14th. UBS Group upped their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday. Guggenheim increased their target price on shares of Veeva Systems from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Morgan Stanley decreased their price target on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research note on Friday, May 31st. Finally, Robert W. Baird raised their price objective on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.09.

Veeva Systems Stock Down 0.4 %

NYSE VEEV opened at $199.35 on Thursday. The stock has a market capitalization of $32.22 billion, a P/E ratio of 58.81, a P/E/G ratio of 1.95 and a beta of 0.80. Veeva Systems has a 52-week low of $162.72 and a 52-week high of $236.90. The firm has a 50-day moving average price of $187.82 and a 200 day moving average price of $202.03.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The business had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. On average, equities research analysts expect that Veeva Systems will post 4.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now owns 8,391 shares in the company, valued at approximately $1,546,713.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Linscomb & Williams Inc. acquired a new position in shares of Veeva Systems in the 4th quarter valued at $1,479,000. Robeco Institutional Asset Management B.V. boosted its holdings in Veeva Systems by 32.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company’s stock valued at $365,000 after acquiring an additional 50,868 shares during the last quarter. APG Asset Management US Inc. purchased a new stake in Veeva Systems during the fourth quarter valued at about $5,756,000. Quantum Capital Management LLC NJ increased its stake in Veeva Systems by 9.8% during the fourth quarter. Quantum Capital Management LLC NJ now owns 329,867 shares of the technology company’s stock worth $63,506,000 after acquiring an additional 29,525 shares during the last quarter. Finally, Eisler Capital UK Ltd. acquired a new stake in Veeva Systems during the fourth quarter worth about $1,408,000. Institutional investors and hedge funds 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.