Veeva Systems (NYSE:VEEV) Stock Price Expected to Rise, Piper Sandler Analyst Says

Veeva Systems (NYSE:VEEV) had its target price lifted by Piper Sandler from $280.00 to $290.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price objective would indicate a potential upside of 15.79% from the company’s current price.

Other research analysts have also issued reports about the stock. UBS Group upped their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Needham & Company LLC upped their price objective on shares of Veeva Systems from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday. Mizuho assumed coverage on shares of Veeva Systems in a research note on Wednesday. They issued an “outperform” rating and a $275.00 target price for the company. Guggenheim increased their price target on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $254.04.

Veeva Systems Stock Up 8.1 %

Shares of NYSE:VEEV opened at $250.45 on Friday. The company has a market capitalization of $40.56 billion, a P/E ratio of 61.84, a P/E/G ratio of 2.30 and a beta of 0.82. Veeva Systems has a 52-week low of $165.12 and a 52-week high of $258.93. The stock’s fifty day simple moving average is $218.29 and its 200-day simple moving average is $202.85.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following 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 position. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mowery & Schoenfeld Wealth Management LLC bought a new position in Veeva Systems during the 3rd quarter valued at $26,000. True Wealth Design LLC lifted its position in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares during the last quarter. DT Investment Partners LLC acquired a new position in Veeva Systems in the second quarter worth about $35,000. Finally, Mather Group LLC. increased its holdings in Veeva Systems by 166.3% in the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock valued at $46,000 after buying an additional 158 shares during the last quarter. 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.