Veeva Systems (NYSE:VEEV) Price Target Raised to $230.00

Veeva Systems (NYSE:VEEV) had its price objective increased by Piper Sandler from $225.00 to $230.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. Barclays decreased their target price on shares of Veeva Systems from $245.00 to $220.00 and set an overweight rating for the company in a research note on Friday, May 31st. Guggenheim boosted their price objective on shares of Veeva Systems from $211.00 to $233.00 and gave the company a buy rating in a research report on Thursday, July 18th. Evercore ISI cut their price objective 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. Truist Financial cut their price objective 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. Finally, Needham & Company LLC reissued 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. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $230.13.

Veeva Systems Trading Down 0.3 %

Shares of VEEV opened at $216.44 on Thursday. The firm has a market cap of $34.99 billion, a PE ratio of 63.85, a P/E/G ratio of 2.12 and a beta of 0.80. The firm has a fifty day simple moving average of $189.12 and a two-hundred day simple moving average of $202.04. Veeva Systems has a 1-year low of $162.72 and a 1-year high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The business had revenue of $650.35 million during the quarter, compared to analyst estimates of $641.73 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.69%. As a group, research analysts forecast that Veeva Systems will post 4.19 EPS for the current fiscal year.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the 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 completion of the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the 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 completion of the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy S. Cabral sold 15,000 shares of the 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 transaction, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Linscomb & Williams Inc. purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $1,479,000. Robeco Institutional Asset Management B.V. raised its position in shares of Veeva Systems by 32.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company’s stock valued at $365,000 after buying an additional 50,868 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $5,756,000. Quantum Capital Management LLC NJ raised its position in shares of Veeva Systems by 9.8% during the 4th quarter. Quantum Capital Management LLC NJ now owns 329,867 shares of the technology company’s stock valued at $63,506,000 after buying an additional 29,525 shares in the last quarter. Finally, Eisler Capital UK Ltd. purchased a new stake in shares of Veeva Systems during the 4th quarter valued at about $1,408,000. Institutional investors 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.