Veeva Systems Inc. (NYSE:VEEV) Given Average Rating of “Moderate Buy” by Brokerages

Veeva Systems Inc. (NYSE:VEEV) has been assigned an average rating of “Moderate Buy” from the twenty-four research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $236.92.

VEEV has been the subject of several research reports. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Guggenheim upped their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Royal Bank of Canada raised their price target on shares of Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, Piper Sandler increased their price objective on shares of Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, November 8th.

Veeva Systems Stock Down 0.1 %

Shares of NYSE VEEV opened at $226.76 on Friday. Veeva Systems has a 52-week low of $165.12 and a 52-week high of $240.68. The company’s 50-day simple moving average is $215.45 and its 200-day simple moving average is $201.83. The firm has a market cap of $36.72 billion, a price-to-earnings ratio of 60.47, a price-to-earnings-growth ratio of 2.19 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The company had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. Equities research analysts anticipate that Veeva Systems will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VEEV. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after buying an additional 48 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Veeva Systems by 1.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock worth $904,000 after buying an additional 50 shares during the last quarter. Clearbridge Investments LLC increased its position in Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after buying an additional 52 shares during the period. Western Pacific Wealth Management LP lifted its stake in Veeva Systems by 23.3% in the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after buying an additional 58 shares during the last quarter. Finally, Park Place Capital Corp boosted its holdings in shares of Veeva Systems by 11.5% in the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after acquiring an additional 59 shares during the period. 88.20% of the stock is currently 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.