Veeva Systems (NYSE:VEEV) Research Coverage Started at Stephens

Stephens started coverage on shares of Veeva Systems (NYSE:VEEV) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $280.00 price objective on the technology company’s stock.

Several other equities research analysts also recently commented on the company. Guggenheim raised their target price on Veeva Systems from $233.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Mizuho assumed coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price objective on the stock. Stifel Nicolaus raised their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI boosted their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Finally, Truist Financial reissued a “hold” rating and issued a $261.00 price objective (up from $207.00) on shares of Veeva Systems in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.44.

Veeva Systems Trading Up 2.0 %

Shares of NYSE VEEV opened at $224.15 on Friday. The stock has a fifty day moving average price of $222.99 and a 200 day moving average price of $205.39. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a market cap of $36.39 billion, a P/E ratio of 55.35, a P/E/G ratio of 2.03 and a beta of 0.82.

Insider Activity

In other news, 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 transaction, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated 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 $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oddo BHF Asset Management Sas bought a new position in shares of Veeva Systems in the third quarter valued at $11,770,000. Peapack Gladstone Financial Corp grew its holdings in shares of Veeva Systems by 5.6% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 70,147 shares of the technology company’s stock worth $14,721,000 after acquiring an additional 3,741 shares during the last quarter. Tidal Investments LLC raised its position in shares of Veeva Systems by 77.1% during the third quarter. Tidal Investments LLC now owns 22,330 shares of the technology company’s stock worth $4,686,000 after purchasing an additional 9,724 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Veeva Systems during the third quarter valued at $168,000. Finally, World Investment Advisors LLC purchased a new stake in shares of Veeva Systems during the third quarter valued at $2,131,000. 88.20% of the stock is currently owned by institutional investors.

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.