Veeva Systems (NYSE:VEEV) Price Target Raised to $240.00

Veeva Systems (NYSE:VEEV) had its target price lifted by Scotiabank from $235.00 to $240.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the company. BNP Paribas started coverage on Veeva Systems in a report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target for the company. TD Cowen upped their price objective on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Piper Sandler lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank of Canada raised their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Guggenheim lifted their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $254.04.

Veeva Systems Price Performance

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

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems 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 sale, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % 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 Trading of Veeva Systems

Several hedge funds have recently made changes to their positions in VEEV. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems during the 3rd quarter worth $26,000. True Wealth Design LLC lifted its holdings in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Blue Trust Inc. boosted its position in 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 period. DT Investment Partners LLC purchased a new position in shares of Veeva Systems in the second quarter worth about $35,000. Finally, Mather Group LLC. raised its position in shares of 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 purchasing an additional 158 shares during the period. 88.20% of the stock is currently owned by institutional investors.

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.