TD Cowen Increases Veeva Systems (NYSE:VEEV) Price Target to $192.00

Veeva Systems (NYSE:VEEV) had its price objective raised by equities researchers at TD Cowen from $180.00 to $192.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. TD Cowen’s price objective would indicate a potential downside of 11.30% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Morgan Stanley decreased their price objective on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Robert W. Baird upped their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday. Raymond James raised their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays upped their target price on Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, BTIG Research started coverage on Veeva Systems in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.13.

Veeva Systems Trading Down 0.3 %

VEEV stock opened at $216.47 on Thursday. The company’s 50-day moving average price is $188.49 and its 200 day moving average price is $202.13. Veeva Systems has a 52 week low of $162.72 and a 52 week high of $236.90. The company has a market cap of $34.99 billion, a P/E ratio of 63.86, a P/E/G ratio of 1.95 and a beta of 0.80.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Veeva Systems

Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in Veeva Systems during the 1st quarter worth approximately $28,000. DSM Capital Partners LLC bought a new stake in Veeva Systems during the fourth quarter valued at $29,000. First Financial Corp IN acquired a new stake in shares of Veeva Systems during the first quarter worth $35,000. Larson Financial Group LLC lifted its position 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 worth $38,000 after buying an additional 150 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at about $32,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.