UBS Group Raises Veeva Systems (NYSE:VEEV) Price Target to $215.00

Veeva Systems (NYSE:VEEV) had its target price increased by UBS Group from $185.00 to $215.00 in a research note published on Monday morning, Benzinga reports. UBS Group currently has a neutral rating on the technology company’s stock.

A number of other analysts have also recently commented on the company. Bank of America dropped their price target on Veeva Systems from $240.00 to $204.00 and set a neutral rating on the stock in a research report on Friday, May 31st. Needham & Company LLC reiterated a buy rating and set a $260.00 target price on shares of Veeva Systems in a research note on Monday, July 15th. Evercore ISI decreased 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 note on Friday, May 31st. Piper Sandler reduced their price objective on Veeva Systems from $235.00 to $225.00 and set an overweight rating for the company in a research note on Friday, July 12th. Finally, Truist Financial reduced their price objective on Veeva Systems from $203.00 to $197.00 and set a hold rating for the company in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $230.41.

Veeva Systems Price Performance

NYSE VEEV opened at $199.35 on Monday. The stock has a market capitalization of $32.22 billion, a PE ratio of 58.81, a PEG ratio of 1.95 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 business’s 50-day moving average is $187.82 and its 200 day moving average is $202.03.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. The business had revenue of $650.35 million for the quarter, compared to analysts’ expectations of $641.73 million. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. As a group, equities research analysts anticipate that Veeva Systems will post 4.19 earnings per share for the current year.

Insider Activity at Veeva Systems

In related news, 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 value of $2,764,950.00. Following the completion of the transaction, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, 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 value 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 approximately $1,546,713.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 2,353 shares of the 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 disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

Institutional Trading of Veeva Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VEEV. Facet Wealth Inc. increased its position in shares of Veeva Systems by 3.2% during the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock worth $323,000 after acquiring an additional 48 shares during the period. Clearbridge Investments LLC boosted its stake in Veeva Systems by 0.4% in the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after acquiring an additional 52 shares in the last quarter. Western Pacific Wealth Management LP boosted its stake in Veeva Systems by 23.3% in the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after acquiring an additional 58 shares in the last quarter. Yousif Capital Management LLC boosted its stake in Veeva Systems by 3.5% in the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock valued at $342,000 after acquiring an additional 60 shares in the last quarter. Finally, OV Management LLC lifted its stake in shares of Veeva Systems by 1.0% during the second quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock worth $1,219,000 after buying an additional 63 shares during the period. 88.20% of the stock is owned by hedge funds and other 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.