Veeva Systems (NYSE:VEEV) Price Target Raised to $283.00

Veeva Systems (NYSE:VEEVGet Free Report) had its price target increased by research analysts at Robert W. Baird from $275.00 to $283.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price suggests a potential upside of 22.16% from the stock’s current price.

Other analysts have also issued reports about the stock. BNP Paribas initiated coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target for the company. Scotiabank assumed coverage on shares of Veeva Systems in a research note on Monday, November 18th. They issued a “sector perform” rating and a $235.00 target price for the company. Bank of America upped their price target on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Veeva Systems in a research report on Friday, November 8th. Finally, Royal Bank of Canada upped their target price on Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average target price of $243.16.

Read Our Latest Stock Analysis on VEEV

Veeva Systems Trading Down 2.6 %

VEEV opened at $231.66 on Friday. The firm has a market cap of $37.51 billion, a price-to-earnings ratio of 61.78, a PEG ratio of 2.20 and a beta of 0.82. Veeva Systems has a 12 month low of $165.12 and a 12 month high of $240.68. The stock has a fifty day moving average price of $217.50 and a 200-day moving average price of $202.61.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

A number of institutional investors have recently modified their holdings of the business. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems in the 3rd quarter valued at $26,000. True Wealth Design LLC raised its position in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after acquiring an additional 135 shares during the period. Blue Trust Inc. lifted its holdings in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC acquired a new stake in shares of Veeva Systems in the second quarter valued at about $35,000. Finally, Mather Group LLC. increased its stake in shares of Veeva Systems by 166.3% during the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after purchasing an additional 158 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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