Veeva Systems Inc. (NYSE:VEEV) Receives Average Rating of “Moderate Buy” from Brokerages

Veeva Systems Inc. (NYSE:VEEV) has earned a consensus recommendation of “Moderate Buy” from the twenty brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $227.95.

Several brokerages have recently weighed in on VEEV. Barclays decreased their target price on Veeva Systems from $245.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Bank of America lowered their price objective on shares of Veeva Systems from $240.00 to $204.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Morgan Stanley reduced their target price on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a research report on Friday, May 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price target on shares of Veeva Systems in a report on Friday, June 21st. Finally, Piper Sandler cut their price objective on shares of Veeva Systems from $245.00 to $235.00 and set an “overweight” rating on the stock in a report on Friday, May 31st.

Veeva Systems Stock Down 0.8 %

Shares of VEEV stock opened at $181.53 on Thursday. Veeva Systems has a fifty-two week low of $162.72 and a fifty-two week high of $236.90. The firm’s 50 day moving average price is $194.68 and its two-hundred day moving average price is $205.28. The stock has a market cap of $29.34 billion, a price-to-earnings ratio of 53.59, a price-to-earnings-growth ratio of 1.79 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The business had revenue of $650.35 million for the quarter, compared to analyst estimates of $641.73 million. On average, equities analysts forecast that Veeva Systems will post 4.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now directly owns 10,668 shares in the company, valued at approximately $2,212,756.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders sold a total of 21,989 shares of company stock valued at $4,192,363 over the last 90 days. 10.50% of the stock is owned by company insiders.

Institutional Trading of Veeva Systems

Several hedge funds have recently bought and sold shares of VEEV. Advisors Asset Management Inc. acquired a new stake in shares of Veeva Systems in the first quarter valued at approximately $28,000. Operose Advisors LLC acquired a new stake in Veeva Systems in the 3rd quarter valued at approximately $29,000. DSM Capital Partners LLC bought a new stake in Veeva Systems during the 4th quarter valued at $29,000. First Financial Corp IN acquired a new position in Veeva Systems during the 1st quarter worth $35,000. Finally, Larson Financial Group LLC grew its stake in shares of Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. 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.