Veeva Systems Inc. (NYSE:VEEV) Given Average Recommendation of "Moderate Buy" by Analysts

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-five analysts that are covering the company, 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 12-month target price among analysts that have issued a report on the stock in the last year is $269.80.

A number of equities research analysts recently issued reports on VEEV shares. Truist Financial boosted their price objective on Veeva Systems from $217.00 to $230.00 and gave the company a "hold" rating in a research note on Thursday, May 29th. UBS Group lifted their target price on shares of Veeva Systems from $250.00 to $285.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Mizuho raised their price objective on shares of Veeva Systems from $280.00 to $295.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Finally, Barclays boosted their target price on shares of Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, May 29th.

Insiders Place Their Bets

In other Veeva Systems news, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction dated 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 sale, the director owned 5,500 shares of the company's stock, valued at $1,593,460. The trade was a 5.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the transaction, the insider owned 25,889 shares in the company, valued at $5,720,692.33. This trade represents a 4.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings 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 purchasing an additional 315,421 shares during the last quarter. Alliancebernstein L.P. boosted its position in Veeva Systems by 10.7% during the first quarter. Alliancebernstein L.P. now owns 5,499,651 shares of the technology company's stock valued at $1,273,884,000 after buying an additional 532,269 shares during the period. T. Rowe Price Investment Management Inc. grew its stake 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 valued at $1,205,372,000 after buying an additional 34,169 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 valued at $924,754,000 after buying an additional 689,700 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new position in shares of Veeva Systems in the fourth quarter worth about $685,355,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $277.23 on Monday. The company has a market capitalization of $45.30 billion, a P/E ratio of 58.73, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. The company's 50-day moving average is $261.22 and its 200 day moving average is $237.56. Veeva Systems has a fifty-two week low of $177.41 and a fifty-two week high of $291.69.

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. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. The firm had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. During the same period in the prior year, the firm earned $1.50 EPS. The company's revenue was up 16.7% compared to the same quarter last year. As a group, research analysts predict that Veeva Systems will post 4.35 earnings per share 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.

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