Stifel Nicolaus Issues Positive Forecast for Veeva Systems (NYSE:VEEV) Stock Price

Veeva Systems (NYSE:VEEV) had its price objective upped by Stifel Nicolaus from $240.00 to $272.00 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other research firms also recently weighed in on VEEV. Mizuho began coverage on Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 target price on the stock. BNP Paribas began coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Finally, TD Cowen boosted their target price on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $254.04.

Veeva Systems Stock Up 8.1 %

Shares of NYSE:VEEV opened at $250.45 on Friday. The firm has a fifty day simple moving average of $218.29 and a two-hundred day simple moving average of $202.83. Veeva Systems has a 52 week low of $165.12 and a 52 week high of $258.93. The stock has a market capitalization of $40.56 billion, a P/E ratio of 61.84, a PEG ratio of 2.43 and a beta of 0.82.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Oddo BHF Asset Management Sas acquired a new stake in Veeva Systems during the 3rd quarter worth about $11,770,000. Peapack Gladstone Financial Corp grew its holdings in Veeva Systems by 5.6% during the third quarter. Peapack Gladstone Financial Corp now owns 70,147 shares of the technology company’s stock worth $14,721,000 after acquiring an additional 3,741 shares during the period. Tidal Investments LLC raised its position in Veeva Systems by 77.1% during the third quarter. Tidal Investments LLC now owns 22,330 shares of the technology company’s stock valued at $4,686,000 after acquiring an additional 9,724 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Veeva Systems during the 3rd quarter worth approximately $168,000. Finally, World Investment Advisors LLC purchased a new position in shares of Veeva Systems during the 3rd quarter valued at approximately $2,131,000. Hedge funds and other institutional investors 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.