Brokerages Set Veeva Systems Inc. (NYSE:VEEV) PT at $256.32

Shares of Veeva Systems Inc. (NYSE:VEEV - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-five ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $254.92.

Several brokerages have commented on VEEV. Piper Sandler lowered their price objective on shares of Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Stephens reaffirmed an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Robert W. Baird lifted their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. StockNews.com raised Veeva Systems from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Finally, Truist Financial lifted their price objective on Veeva Systems from $210.00 to $217.00 and gave the company a "hold" rating in a research report on Thursday, March 6th.

Insider Activity at Veeva Systems

In related 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 completion of the sale, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the company's 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 owns 5,500 shares of the company's stock, valued at approximately $1,192,565. The trade was a 41.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is owned by insiders.

Institutional Trading of Veeva Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its position in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after buying an additional 1,267,061 shares in the last quarter. Smith Group Asset Management LLC increased its position in Veeva Systems by 2.2% in the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock worth $17,360,000 after buying an additional 1,749 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Veeva Systems in the fourth quarter worth about $816,000. Venturi Wealth Management LLC increased its position in Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after buying an additional 163 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Veeva Systems by 21.6% during the fourth quarter. Nordea Investment Management AB now owns 261,131 shares of the technology company's stock worth $55,073,000 after purchasing an additional 46,440 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Down 0.8 %

Shares of Veeva Systems stock traded down $1.92 during trading on Wednesday, reaching $225.62. 1,122,036 shares of the stock were exchanged, compared to its average volume of 1,073,585. The stock's fifty day moving average is $225.90 and its 200 day moving average is $224.20. The firm has a market cap of $36.71 billion, a price-to-earnings ratio of 55.71, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. Veeva Systems has a 1 year low of $170.25 and a 1 year high of $258.93.

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.