Veeva Systems (NYSE:VEEV) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Veeva Systems (NYSE:VEEV) had its price target raised by analysts at Robert W. Baird from $283.00 to $285.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target suggests a potential upside of 15.34% from the company’s previous close.

A number of other brokerages have also weighed in on VEEV. KeyCorp reduced their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial reduced their price objective on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a research report on Monday, January 13th. Bank of America boosted their price objective on Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada boosted 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, December 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.28.

Veeva Systems Stock Up 4.6 %

NYSE VEEV opened at $247.10 on Thursday. The company has a market cap of $40.12 billion, a price-to-earnings ratio of 61.01, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems has a twelve month low of $170.25 and a twelve month high of $258.93. The business’s fifty day moving average is $224.92 and its 200 day moving average is $220.03.

Institutional Trading of Veeva Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Siemens Fonds Invest GmbH raised its stake in shares of Veeva Systems by 1,538.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,195 shares of the technology company’s stock worth $11,605,000 after purchasing an additional 51,826 shares during the last quarter. Cim LLC raised its stake in shares of Veeva Systems by 1.8% in the fourth quarter. Cim LLC now owns 5,425 shares of the technology company’s stock worth $1,141,000 after purchasing an additional 98 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Veeva Systems in the fourth quarter worth approximately $43,051,000. Capital A Wealth Management LLC purchased a new stake in shares of Veeva Systems in the fourth quarter worth approximately $254,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Veeva Systems in the fourth quarter worth approximately $309,000. 88.20% of the stock is owned by hedge funds and other 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.