Veeva Systems (NYSE:VEEV) Price Target Raised to $295.00

Veeva Systems (NYSE:VEEV - Free Report) had its target price hoisted by Mizuho from $280.00 to $295.00 in a research note published on Monday morning,Benzinga reports. They currently have an outperform rating on the technology company's stock.

Other research analysts have also issued reports about the company. Barclays lifted their target price on Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Morgan Stanley raised their price target on Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a research note on Thursday, May 29th. Piper Sandler raised their price target on Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Stephens reiterated an "overweight" rating and issued a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Finally, UBS Group increased their price objective on Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and an average price target of $269.80.

Veeva Systems Price Performance

Shares of VEEV stock traded up $7.86 on Monday, hitting $291.43. The stock had a trading volume of 925,703 shares, compared to its average volume of 1,132,704. The firm has a market capitalization of $47.41 billion, a P/E ratio of 71.96, a P/E/G ratio of 1.89 and a beta of 0.96. Veeva Systems has a 1 year low of $176.41 and a 1 year high of $291.52. The company's 50 day moving average price is $233.26 and its 200-day moving average price is $229.03.

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

Insiders Place Their Bets

In related news, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares of the company's stock, valued at approximately $1,960,701.60. This trade represents a 8.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the transaction, the insider now owns 25,889 shares of the company's stock, valued at approximately $5,720,692.33. This represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 in the last quarter. Insiders own 10.30% of the company's stock.

Institutional Trading of Veeva Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Veeva Systems by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,760,566 shares of the technology company's stock valued at $3,418,990,000 after acquiring an additional 315,421 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Veeva Systems by 10.7% during the first quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company's stock worth $1,273,884,000 after purchasing an additional 532,269 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Veeva Systems by 0.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,203,867 shares of the technology company's stock worth $1,205,372,000 after purchasing an additional 34,169 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Veeva Systems by 20.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company's stock worth $924,754,000 after purchasing an additional 689,700 shares during the period. Finally, Leigh Baldwin & CO. LLC acquired a new stake in shares of Veeva Systems during the fourth quarter worth $685,355,000. 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.