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Veeva Systems (NYSE:VEEV – Free Report) had its price target upped by Needham & Company LLC from $300.00 to $355.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.
A number of other equities analysts have also recently issued reports on VEEV. Piper Sandler lifted their target price on Veeva Systems from $255.00 to $325.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Wall Street Zen upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Truist Financial lifted their target price on Veeva Systems from $217.00 to $230.00 and gave the stock a “hold” rating in a report on Thursday, May 29th. KeyCorp lifted their target price on Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Finally, Morgan Stanley lifted their target price on Veeva Systems from $201.00 to $210.00 and gave the stock an “underweight” rating in a report on Thursday, May 29th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average price target of $298.68.
Veeva Systems Stock Performance
VEEV opened at $272.51 on Thursday. The company has a market capitalization of $44.53 billion, a PE ratio of 55.96, a P/E/G ratio of 2.33 and a beta of 0.95. The stock’s fifty day moving average is $282.59 and its 200-day moving average is $253.79. Veeva Systems has a one year low of $200.30 and a one year high of $296.72.
Veeva Systems (NYSE:VEEV – Get Free Report) last issued its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million for the quarter, compared to analysts’ expectations of $728.38 million. Veeva Systems had a return on equity of 14.19% and a net margin of 27.29%.The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.50 EPS. On average, equities research analysts forecast that Veeva Systems will post 4.35 EPS for the current fiscal year.
Insider Activity
In related news, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction on Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director owned 5,500 shares of the company’s stock, valued at approximately $1,593,460. This trade represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 720 shares of Veeva Systems stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total value of $205,646.40. Following the sale, the senior vice president directly owned 7,902 shares of the company’s stock, valued at approximately $2,256,969.24. The trade was a 8.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,378 shares of company stock worth $394,217. 10.30% of the stock is owned by corporate insiders.
Institutional Trading of Veeva Systems
A number of institutional investors have recently bought and sold shares of the company. Orion Porfolio Solutions LLC boosted its position in Veeva Systems by 8.7% during the second quarter. Orion Porfolio Solutions LLC now owns 8,317 shares of the technology company’s stock valued at $2,395,000 after purchasing an additional 666 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new stake in Veeva Systems during the second quarter valued at $1,523,000. Advisory Services Network LLC boosted its position in Veeva Systems by 293.8% during the second quarter. Advisory Services Network LLC now owns 18,979 shares of the technology company’s stock valued at $5,394,000 after purchasing an additional 14,159 shares during the last quarter. Cim LLC boosted its position in Veeva Systems by 2.0% during the second quarter. Cim LLC now owns 5,551 shares of the technology company’s stock valued at $1,599,000 after purchasing an additional 110 shares during the last quarter. Finally, Nomura Holdings Inc. boosted its position in Veeva Systems by 6.9% during the second quarter. Nomura Holdings Inc. now owns 2,976 shares of the technology company’s stock valued at $857,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.
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.
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