Analysts Set Veeva Systems Inc. (NYSE:VEEV) Price Target at $269.80

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-five research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $269.80.

A number of analysts have recently issued reports on VEEV shares. Morgan Stanley raised their target price on shares of Veeva Systems from $201.00 to $210.00 and gave the stock an "underweight" rating in a research note on Thursday, May 29th. Wells Fargo & Company lifted their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Citigroup lifted their price objective on shares of Veeva Systems from $265.00 to $329.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Needham & Company LLC lifted their price objective on shares of Veeva Systems from $270.00 to $300.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, KeyCorp dropped their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,200 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $220.97, for a total transaction of $265,164.00. Following the sale, the insider directly owned 25,889 shares of the company's stock, valued at $5,720,692.33. The trade was a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Timothy S. Cabral sold 315 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the transaction, the director owned 5,500 shares in the company, valued at $1,593,460. This trade represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders own 10.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VEEV. Leigh Baldwin & CO. LLC acquired a new position in shares of Veeva Systems during the 4th quarter valued at $685,355,000. Nuveen LLC acquired a new position in shares of Veeva Systems during the 1st quarter valued at $365,684,000. Norges Bank acquired a new position in shares of Veeva Systems during the 4th quarter valued at $294,785,000. Wealthfront Advisers LLC lifted its position in shares of Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock valued at $220,489,000 after acquiring an additional 1,045,188 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Veeva Systems by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,992,372 shares of the technology company's stock valued at $924,754,000 after acquiring an additional 689,700 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Veeva Systems Stock Performance

Veeva Systems stock traded down $2.99 during mid-day trading on Monday, reaching $281.30. The company's stock had a trading volume of 1,162,629 shares, compared to its average volume of 1,161,251. The company has a market capitalization of $45.97 billion, a price-to-earnings ratio of 59.60, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. Veeva Systems has a 12 month low of $177.41 and a 12 month high of $291.69. The business's 50 day simple moving average is $261.22 and its 200 day simple moving average is $237.56.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. The business had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.50 earnings per share. As a group, sell-side analysts expect that Veeva Systems will post 4.35 EPS for the current year.

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.