Veeva Systems (NYSE:VEEV) PT Raised to $192.00 at TD Cowen

Veeva Systems (NYSE:VEEV) had its price target boosted by TD Cowen from $180.00 to $192.00 in a research note released on Thursday, Benzinga reports. TD Cowen currently has a hold rating on the technology company’s stock.

Several other research analysts have also commented on VEEV. Citigroup lifted their price target on Veeva Systems from $256.00 to $273.00 and gave the stock a buy rating in a research report on Tuesday, August 27th. Evercore ISI decreased their price target on Veeva Systems from $230.00 to $200.00 and set an in-line rating on the stock in a research note on Friday, May 31st. Stifel Nicolaus decreased their target price on Veeva Systems from $250.00 to $210.00 and set a buy rating on the stock in a research report on Friday, May 31st. UBS Group boosted their target price on Veeva Systems from $185.00 to $215.00 and gave the stock a neutral rating in a research report on Monday, August 26th. Finally, Morgan Stanley reduced their price objective on Veeva Systems from $210.00 to $173.00 and set an underweight rating on the stock in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of Moderate Buy and a consensus price target of $230.13.

Veeva Systems Stock Performance

VEEV opened at $216.44 on Thursday. Veeva Systems has a one year low of $162.72 and a one year high of $236.90. The company has a market cap of $34.99 billion, a P/E ratio of 63.85, a PEG ratio of 2.12 and a beta of 0.80. The business’s 50-day simple moving average is $189.12 and its 200-day simple moving average is $202.04.

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

Insiders Place Their Bets

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 stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now directly owns 9,035 shares in the company, valued at $1,807,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 value of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Timothy S. Cabral sold 15,000 shares of the company’s 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 of the company’s stock, valued at approximately $1,546,713.03. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Linscomb & Williams Inc. purchased a new position in Veeva Systems in the fourth quarter valued at about $1,479,000. Robeco Institutional Asset Management B.V. lifted its holdings in 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 worth $365,000 after buying an additional 50,868 shares during the last quarter. APG Asset Management US Inc. bought a new position in Veeva Systems during the 4th quarter worth approximately $5,756,000. Quantum Capital Management LLC NJ lifted its holdings in 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 worth $63,506,000 after buying an additional 29,525 shares during the last quarter. Finally, Eisler Capital UK Ltd. bought a new position in Veeva Systems during the 4th quarter worth approximately $1,408,000. Hedge funds and other 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.