Veeva Systems (NYSE:VEEV) Price Target Raised to $300.00 at Barclays

Veeva Systems (NYSE:VEEV - Get Free Report) had its price objective boosted by analysts at Barclays from $285.00 to $300.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Barclays's price target suggests a potential upside of 7.13% from the stock's current price.

Several other analysts also recently issued reports on VEEV. Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Needham & Company LLC lifted their price target on Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday. Truist Financial lifted their price target on Veeva Systems from $210.00 to $217.00 and gave the stock a "hold" rating in a report on Thursday, March 6th. Scotiabank boosted their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Finally, Morgan Stanley boosted their price objective on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Veeva Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $269.00.

Veeva Systems Trading Up 0.4%

Shares of NYSE:VEEV traded up $0.99 during midday trading on Thursday, hitting $280.03. The company had a trading volume of 3,578,987 shares, compared to its average volume of 1,147,282. The stock has a market cap of $45.56 billion, a price-to-earnings ratio of 69.14, a PEG ratio of 1.89 and a beta of 0.96. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $285.70. The firm has a fifty day simple moving average of $230.48 and a 200 day simple moving average of $227.86.

Veeva Systems (NYSE:VEEV - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The business had revenue of $759.04 million for the quarter, compared to the consensus estimate of $728.38 million. During the same quarter last year, the business posted $1.50 EPS. The firm's revenue was up 16.7% compared to the same quarter last year. Equities analysts forecast that Veeva Systems will post 4.35 EPS for the current fiscal year.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the sale, the insider now owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,869 shares of company stock valued at $1,284,917. 10.30% of the stock is currently owned by insiders.

Institutional Trading of Veeva Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC boosted its position in Veeva Systems by 2,716.7% during the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after acquiring an additional 163 shares in the last quarter. SYM FINANCIAL Corp purchased a new position in Veeva Systems during the 4th quarter worth $729,000. Linonia Partnership LP grew its stake in Veeva Systems by 42.1% during the 4th quarter. Linonia Partnership LP now owns 1,202,972 shares of the technology company's stock worth $252,925,000 after buying an additional 356,300 shares during the last quarter. Boston Trust Walden Corp purchased a new position in Veeva Systems during the 4th quarter worth $7,964,000. Finally, William Allan Corp grew its stake in Veeva Systems by 3.8% during the 4th quarter. William Allan Corp now owns 12,860 shares of the technology company's stock worth $2,704,000 after buying an additional 474 shares during the last quarter. 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.