Veeva Systems (NYSE:VEEV) Given New $285.00 Price Target at UBS Group

Veeva Systems (NYSE:VEEV - Free Report) had its target price raised by UBS Group from $250.00 to $285.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the technology company's stock.

A number of other research analysts also recently issued reports on VEEV. Needham & Company LLC boosted their price objective on Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a research note on Thursday. Scotiabank boosted their target price on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. Stifel Nicolaus boosted their target price on Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. Finally, Stephens reaffirmed an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.00.

Veeva Systems Stock Performance

Shares of NYSE:VEEV traded up $0.99 during midday trading on Thursday, reaching $280.03. The company's stock had a trading volume of 3,578,987 shares, compared to its average volume of 1,147,282. The firm has a market capitalization of $45.56 billion, a price-to-earnings ratio of 69.14, a PEG ratio of 1.89 and a beta of 0.96. The firm has a 50 day moving average price of $230.48 and a two-hundred day moving average price of $227.86. Veeva Systems has a fifty-two week low of $170.25 and a fifty-two week high of $285.70.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. The company 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 firm's revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.50 EPS. As a group, research analysts anticipate that Veeva Systems will post 4.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 of the company's stock, valued at $1,960,701.60. This represents a 8.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now directly owns 5,500 shares of the company's stock, valued at approximately $1,192,565. This trade represents a 41.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,869 shares of company stock valued at $1,284,917. Insiders own 10.30% of the company's stock.

Institutional Trading of Veeva Systems

A number of institutional investors have recently modified their holdings of VEEV. Centricity Wealth Management LLC purchased a new position in Veeva Systems in the 4th quarter valued at approximately $25,000. Abound Financial LLC bought a new stake in shares of Veeva Systems during the 1st quarter valued at $25,000. ORG Partners LLC bought a new stake in shares of Veeva Systems during the 1st quarter valued at $26,000. Smithfield Trust Co boosted its stake in 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 purchasing an additional 80 shares during the period. Finally, Avion Wealth boosted its stake in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after purchasing an additional 127 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

About Veeva Systems

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.