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

Shares of Veeva Systems Inc. (NYSE:VEEV) have received a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $232.87.

Several research firms recently weighed in on VEEV. Raymond James upped their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. BTIG Research initiated coverage on Veeva Systems in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target on the stock. Guggenheim upped their price objective on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, UBS Group raised their price objective on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th.

Veeva Systems Price Performance

VEEV opened at $212.78 on Wednesday. The firm has a market capitalization of $34.46 billion, a P/E ratio of 56.74, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81. Veeva Systems has a one year low of $162.72 and a one year high of $236.90. The company has a fifty day moving average price of $212.62 and a 200-day moving average price of $199.03.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. The business had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. On average, analysts expect that Veeva Systems will post 4.21 earnings per share for the current year.

Insiders Place Their Bets

In other 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 transaction of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Brookstone Capital Management bought a new stake in shares of Veeva Systems during the 1st quarter valued at $234,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Veeva Systems by 3.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,479 shares of the technology company’s stock valued at $2,196,000 after purchasing an additional 293 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Veeva Systems by 1.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 402,575 shares of the technology company’s stock valued at $93,273,000 after purchasing an additional 5,352 shares during the last quarter. Valley National Advisers Inc. grew its position in shares of Veeva Systems by 36.8% during the first quarter. Valley National Advisers Inc. now owns 1,674 shares of the technology company’s stock valued at $387,000 after purchasing an additional 450 shares in the last quarter. Finally, Norden Group LLC bought a new stake in shares of Veeva Systems in the first quarter worth about $304,000. 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.