Shares of Veeva Systems Inc. (NYSE:VEEV - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-four analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $274.17.
A number of analysts have issued reports on VEEV shares. Piper Sandler boosted their target price on Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Stifel Nicolaus increased their price objective on shares of Veeva Systems from $272.00 to $295.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. UBS Group upped their target price on shares of Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Wells Fargo & Company raised their price objective on shares of Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, May 29th. Finally, 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.
View Our Latest Research Report on VEEV
Insider Transactions at Veeva Systems
In related news, SVP Jonathan Faddis sold 720 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $285.62, for a total value of $205,646.40. Following the sale, the senior vice president directly owned 7,902 shares of the company's stock, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Priscilla Hung sold 171 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $284.40, for a total transaction of $48,632.40. Following the completion of the sale, the director directly owned 3,966 shares in the company, valued at $1,127,930.40. This represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,378 shares of company stock worth $394,217 over the last ninety days. 10.30% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Abound Financial LLC acquired a new stake in Veeva Systems in the first quarter valued at $25,000. ORG Partners LLC bought a new position in Veeva Systems in the 1st quarter valued at about $26,000. Trust Co. of Toledo NA OH bought a new position in Veeva Systems in the 2nd quarter valued at about $29,000. Golden State Wealth Management LLC boosted its position in shares of Veeva Systems by 152.9% during the 1st quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Veeva Systems during the 1st quarter valued at about $32,000. 88.20% of the stock is owned by institutional investors and hedge funds.
Veeva Systems Stock Down 1.1%
Shares of NYSE VEEV traded down $3.15 during trading on Friday, hitting $281.05. The company had a trading volume of 996,717 shares, compared to its average volume of 1,246,058. The stock has a fifty day simple moving average of $279.05 and a two-hundred day simple moving average of $246.25. Veeva Systems has a fifty-two week low of $177.41 and a fifty-two week high of $296.72. The firm has a market capitalization of $45.93 billion, a price-to-earnings ratio of 59.54, a price-to-earnings-growth ratio of 2.25 and a beta of 0.95.
Veeva Systems (NYSE:VEEV - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $728.38 million. During the same period in the previous year, the business posted $1.50 earnings per share. Veeva Systems's quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts anticipate that Veeva Systems will post 4.35 earnings per share for the current year.
Veeva Systems Company Profile
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Get Free ReportVeeva 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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