Veeva Systems (NYSE:VEEV) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Veeva Systems (NYSE:VEEV) had its target price upped by stock analysts at JPMorgan Chase & Co. from $208.00 to $218.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 3.74% from the company’s current price.

VEEV has been the topic of a number of other reports. Barclays boosted their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. BNP Paribas began coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target on the stock. Stifel Nicolaus lifted their target price on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Scotiabank increased their target price on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $256.58.

Veeva Systems Stock Up 0.8 %

NYSE VEEV opened at $226.46 on Monday. The company has a 50-day moving average price of $222.25 and a 200-day moving average price of $204.62. The firm has a market capitalization of $36.77 billion, a P/E ratio of 55.92, a PEG ratio of 2.03 and a beta of 0.82. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction dated 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 directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

Institutional investors have recently made changes to their positions in the business. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems during the third quarter worth approximately $26,000. True Wealth Design LLC increased its position in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares during the last quarter. DT Investment Partners LLC acquired a new stake in shares of Veeva Systems during the second quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Veeva Systems during the 3rd quarter worth approximately $49,000. Institutional investors own 88.20% of the company’s stock.

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.