UBS Group Raises Veeva Systems (NYSE:VEEV) Price Target to $215.00

Veeva Systems (NYSE:VEEV) had its target price lifted by UBS Group from $185.00 to $215.00 in a research report sent to investors on Monday, Benzinga reports. UBS Group currently has a neutral rating on the technology company’s stock.

Several other equities analysts also recently commented on VEEV. Robert W. Baird raised their target price on Veeva Systems from $251.00 to $255.00 and gave the stock an outperform rating in a research report on Wednesday, May 29th. Needham & Company LLC restated a buy rating and issued a $260.00 target price on shares of Veeva Systems in a research note on Monday, July 15th. Canaccord Genuity Group lowered their target price on shares of Veeva Systems from $220.00 to $210.00 and set a hold rating on the stock in a report on Friday, May 31st. Evercore ISI cut their price target on shares of Veeva Systems from $230.00 to $200.00 and set an in-line rating for the company in a report on Friday, May 31st. Finally, Citigroup decreased their price objective on shares of Veeva Systems from $274.00 to $256.00 and set a buy rating on the stock in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Veeva Systems has an average rating of Moderate Buy and an average target price of $229.64.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $198.91 on Monday. Veeva Systems has a 52-week low of $162.72 and a 52-week high of $236.90. The firm has a market capitalization of $32.15 billion, a PE ratio of 58.68, a price-to-earnings-growth ratio of 1.93 and a beta of 0.80. The company’s fifty day moving average price is $186.98 and its two-hundred day moving average price is $202.16.

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

Insider Transactions at Veeva Systems

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

Institutional Investors Weigh In On Veeva Systems

Several large investors have recently bought and sold shares of VEEV. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems in the 1st quarter valued at $28,000. DSM Capital Partners LLC bought a new stake in shares of Veeva Systems in the fourth quarter worth about $29,000. First Financial Corp IN bought a new stake in shares of Veeva Systems in the first quarter worth about $35,000. Larson Financial Group LLC lifted its holdings in shares of Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares in 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 approximately $32,000. 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.