Analysts Set Veeva Systems Inc. (NYSE:VEEV) PT at $256.58

Shares of Veeva Systems Inc. (NYSE:VEEV) have been given an average rating of “Moderate Buy” by the twenty-seven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eighteen have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $257.44.

A number of research firms have commented on VEEV. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. Stephens started coverage on shares of Veeva Systems in a research note on Friday. They set an “overweight” rating and a $280.00 target price on the stock. Barclays increased their price target on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Guggenheim boosted their price objective on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC increased their target price on Veeva Systems from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, December 6th.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Veeva Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Veeva Systems in the third quarter valued at approximately $26,000. True Wealth Design LLC lifted its holdings in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares during the period. Blue Trust Inc. grew its position in shares of Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of Veeva Systems in the second quarter valued at about $46,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Veeva Systems in the third quarter valued at about $49,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Up 2.0 %

NYSE VEEV opened at $224.15 on Thursday. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a market capitalization of $36.39 billion, a P/E ratio of 55.35, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. The stock’s 50-day moving average price is $222.99 and its 200-day moving average price is $205.39.

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.