Veeva Systems Inc. (NYSE:VEEV) Given Consensus Rating of “Moderate Buy” by Analysts

Veeva Systems Inc. (NYSE:VEEV) has earned an average recommendation of “Moderate Buy” from the twenty-two research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $228.27.

Several equities research analysts have recently commented on VEEV shares. UBS Group decreased their target price on shares of Veeva Systems from $235.00 to $185.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Stifel Nicolaus decreased their target price on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Piper Sandler reduced their price objective on shares of Veeva Systems from $235.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, Barclays reduced their price objective on shares of Veeva Systems from $245.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, May 31st.

Insider Activity at Veeva Systems

In related news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,546,713.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Veeva Systems

Institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. purchased a new stake in shares of Veeva Systems during the 1st quarter valued at approximately $28,000. DSM Capital Partners LLC purchased a new stake in Veeva Systems in the 4th quarter worth approximately $29,000. First Financial Corp IN purchased a new stake in Veeva Systems in the 1st quarter worth approximately $35,000. Larson Financial Group LLC lifted its stake 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 worth $38,000 after purchasing an additional 150 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in Veeva Systems in the 4th quarter worth approximately $32,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Trading Up 3.2 %

Shares of NYSE VEEV opened at $192.55 on Monday. The firm’s 50-day moving average price is $187.20 and its 200-day moving average price is $204.58. The firm has a market capitalization of $31.13 billion, a P/E ratio of 56.80, a P/E/G ratio of 1.81 and a beta of 0.80. Veeva Systems has a 1-year low of $162.72 and a 1-year high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its 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 during 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%. Equities research analysts forecast that Veeva Systems will post 4.19 EPS for the current year.

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.