Veeva Systems (NYSE:VEEV) Price Target Increased to $240.00 by Analysts at Barclays

Veeva Systems (NYSE:VEEV) had its target price raised by Barclays from $220.00 to $240.00 in a research report released on Thursday, Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other research firms have also weighed in on VEEV. Truist Financial cut their target price on shares of Veeva Systems from $203.00 to $197.00 and set a hold rating for the company in a research report on Friday, June 14th. Evercore ISI cut their target price on shares of 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. Morgan Stanley cut their target price on shares of Veeva Systems from $210.00 to $173.00 and set an underweight rating for the company in a research report on Friday, May 31st. Citigroup upped their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the company a buy rating in a research report on Tuesday, August 27th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of Moderate Buy and a consensus price target of $230.13.

Veeva Systems Trading Down 0.3 %

Shares of NYSE:VEEV opened at $216.44 on Thursday. The stock has a market capitalization of $34.99 billion, a PE ratio of 63.85, a P/E/G ratio of 2.12 and a beta of 0.80. Veeva Systems has a 1 year low of $162.72 and a 1 year high of $236.90. The firm has a fifty day moving average price of $189.12 and a 200 day moving average price of $202.04.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.10. The firm had revenue of $650.35 million during the quarter, compared to analysts’ expectations of $641.73 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.69%. On average, sell-side analysts forecast that Veeva Systems will post 4.19 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Veeva Systems

Large investors have recently added to or reduced their stakes in the company. Sycomore Asset Management bought a new stake in shares of Veeva Systems during the second quarter valued at approximately $8,298,000. Clearbridge Investments LLC grew its stake in shares of Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after purchasing an additional 52 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Veeva Systems during the second quarter valued at approximately $231,000. Regal Investment Advisors LLC grew its stake in shares of Veeva Systems by 42.9% during the second quarter. Regal Investment Advisors LLC now owns 2,535 shares of the technology company’s stock valued at $464,000 after purchasing an additional 761 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Veeva Systems by 39.4% during the second quarter. Quarry LP now owns 421 shares of the technology company’s stock valued at $77,000 after purchasing an additional 119 shares during the last quarter. 88.20% of the stock is 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.