Veeva Systems (NYSE:VEEV) Price Target Raised to $218.00

Veeva Systems (NYSE:VEEV) had its price objective raised by JPMorgan Chase & Co. from $208.00 to $218.00 in a research note released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

A number of other research firms have also commented on VEEV. Mizuho began coverage on Veeva Systems in a research report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. Barclays upped their target price on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, December 6th. TD Cowen lifted their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Guggenheim raised their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $256.58.

Veeva Systems Trading Down 2.2 %

Shares of NYSE:VEEV opened at $221.54 on Monday. The company has a 50-day moving average price of $222.54 and a 200-day moving average price of $204.73. The company has a market cap of $35.97 billion, a price-to-earnings ratio of 54.70, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93.

Insiders Place Their Bets

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in VEEV. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems in the third quarter worth about $26,000. True Wealth Design LLC raised its holdings in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares during the period. Blue Trust Inc. raised its holdings in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares during the period. DT Investment Partners LLC purchased a new position in Veeva Systems during the second quarter valued at $35,000. Finally, Fairscale Capital LLC bought a new stake in Veeva Systems during the second quarter valued at about $46,000. Hedge funds and other 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.