Veeva Systems Inc. (NYSE:VEEV) Receives Average Rating of "Moderate Buy" from Brokerages

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty-five brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $254.92.

Several research analysts recently commented on the company. Piper Sandler reduced their price target on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC reissued a "buy" rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. The Goldman Sachs Group lowered shares of Veeva Systems from a "buy" rating to a "sell" rating and dropped their price target for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Robert W. Baird lifted their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Finally, Stephens reiterated an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th.

Veeva Systems Price Performance

Shares of VEEV traded down $0.72 during mid-day trading on Wednesday, hitting $230.92. 432,121 shares of the company's stock were exchanged, compared to its average volume of 1,071,940. The company has a 50-day simple moving average of $225.96 and a 200 day simple moving average of $224.26. The company has a market cap of $37.57 billion, a PE ratio of 57.02, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93.

Insider Transactions at Veeva Systems

In related news, Director Timothy S. Cabral sold 3,882 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now directly owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 787 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. The trade was a 8.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock valued at $1,284,917 in the last 90 days. 10.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

Several hedge funds and other institutional investors have recently made changes to their positions in VEEV. MassMutual Private Wealth & Trust FSB increased its holdings in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in Veeva Systems in the 4th quarter valued at $25,000. Abound Financial LLC bought a new position in Veeva Systems during the 1st quarter valued at $25,000. ORG Partners LLC purchased a new position in Veeva Systems during the 1st quarter worth $26,000. Finally, Smithfield Trust Co grew its stake in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after acquiring an additional 80 shares in the last quarter. 88.20% of the stock is owned by 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.