Veeva Systems (NYSE:VEEV) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Veeva Systems (NYSE:VEEV) in a report published on Thursday, Benzinga reports. The firm currently has a $250.00 price objective on the technology company’s stock.

Several other analysts have also recently commented on VEEV. Raymond James increased their price target on shares of Veeva Systems from $230.00 to $235.00 and gave the company an outperform rating in a research note on Thursday. Piper Sandler lifted their target price on Veeva Systems from $225.00 to $230.00 and gave the company an overweight rating in a research note on Thursday. Canaccord Genuity Group dropped their target price on Veeva Systems from $220.00 to $210.00 and set a hold rating for the company in a research report on Friday, May 31st. Evercore ISI lowered their price objective on Veeva Systems from $230.00 to $200.00 and set an in-line rating for the company in a research report on Friday, May 31st. Finally, Robert W. Baird upped their target price on shares of Veeva Systems from $245.00 to $251.00 and gave the company an outperform rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $230.13.

Veeva Systems Stock Performance

Veeva Systems stock opened at $216.44 on Thursday. The business’s fifty day moving average is $189.12 and its two-hundred day moving average is $202.12. The firm has a market cap of $34.99 billion, a P/E ratio of 63.85, a P/E/G ratio of 1.95 and a beta of 0.80. Veeva Systems has a 52 week low of $162.72 and a 52 week high of $236.90.

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

Insider Activity at Veeva Systems

In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the transaction, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Veeva Systems news, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares in the company, valued at $1,546,713.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. acquired a new position in Veeva Systems in the 1st quarter worth $28,000. DSM Capital Partners LLC acquired a new position in shares of Veeva Systems during the fourth quarter worth about $29,000. First Financial Corp IN bought a new position in shares of Veeva Systems during the first quarter worth about $35,000. Larson Financial Group LLC raised its position in Veeva Systems by 1,153.8% in the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in Veeva Systems in the 4th quarter valued at approximately $32,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.