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Veeva Systems (NYSE:VEEV – Free Report) had its price objective boosted by Piper Sandler from $325.00 to $355.00 in a research note issued to investors on Thursday, Marketbeat.com reports. They currently have an overweight rating on the technology company’s stock.
VEEV has been the topic of a number of other research reports. Truist Financial lifted their target price on Veeva Systems from $217.00 to $230.00 and gave the company a “hold” rating in a research report on Thursday, May 29th. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Raymond James Financial boosted their price target on Veeva Systems from $285.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, May 29th. KeyCorp boosted their price target on Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Finally, Stifel Nicolaus boosted their price target on Veeva Systems from $272.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Sixteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average target price of $298.68.
View Our Latest Stock Report on VEEV
Veeva Systems Stock Performance
NYSE:VEEV opened at $272.51 on Thursday. The stock’s 50-day simple moving average is $282.59 and its 200 day simple moving average is $253.79. The company has a market cap of $44.53 billion, a P/E ratio of 55.96, a P/E/G ratio of 2.33 and a beta of 0.95. Veeva Systems has a 52-week low of $200.30 and a 52-week high of $296.72.
Veeva Systems (NYSE:VEEV – Get Free Report) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a return on equity of 14.19% and a net margin of 27.29%.Veeva Systems’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 earnings per share. As a group, equities analysts predict that Veeva Systems will post 4.35 earnings per share for the current fiscal year.
Insider Transactions at Veeva Systems
In other news, SVP Jonathan Faddis sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the sale, the senior vice president owned 7,902 shares in the company, valued at $2,256,969.24. The trade was a 8.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 315 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $289.72, for a total value of $91,261.80. Following the sale, the director owned 5,500 shares of the company’s stock, valued at approximately $1,593,460. This represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,378 shares of company stock worth $394,217 over the last quarter. Company insiders own 10.30% of the company’s stock.
Institutional Investors Weigh In On Veeva Systems
A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Veeva Systems by 1.4% during the second quarter. Vanguard Group Inc. now owns 14,971,425 shares of the technology company’s stock worth $4,311,471,000 after acquiring an additional 210,859 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Veeva Systems by 3.7% in the second quarter. Alliancebernstein L.P. now owns 5,705,648 shares of the technology company’s stock valued at $1,643,113,000 after buying an additional 205,997 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Veeva Systems by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company’s stock valued at $1,205,372,000 after buying an additional 34,169 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Veeva Systems by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company’s stock valued at $924,754,000 after buying an additional 689,700 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Veeva Systems by 2.6% in the second quarter. JPMorgan Chase & Co. now owns 3,316,274 shares of the technology company’s stock valued at $955,030,000 after buying an additional 85,516 shares during the period. Institutional investors own 88.20% of the company’s stock.
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.
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