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

Veeva Systems Inc. (NYSE:VEEV - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-five research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $269.80.

Several analysts have issued reports on the company. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Wells Fargo & Company upped their price target on shares of Veeva Systems from $285.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, May 29th. Citigroup raised 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. UBS Group boosted their target price on shares of Veeva Systems from $250.00 to $285.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Finally, Mizuho increased their target price on Veeva Systems from $280.00 to $295.00 and gave the company an "outperform" rating in a report on Monday, June 2nd.

Veeva Systems Trading Down 2.3%

Shares of NYSE VEEV traded down $6.70 during midday trading on Thursday, reaching $281.85. The company's stock had a trading volume of 2,017,512 shares, compared to its average volume of 1,144,506. Veeva Systems has a one year low of $176.41 and a one year high of $291.68. The company has a market cap of $45.86 billion, a price-to-earnings ratio of 69.59, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99. The company has a 50 day moving average price of $239.45 and a 200 day moving average price of $231.56.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.23. The company had revenue of $759.04 million during 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 company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.50 EPS. Research analysts anticipate that Veeva Systems will post 4.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 3,882 shares of the firm'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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders sold 6,184 shares of company stock valued at $1,376,179 over the last quarter. Insiders own 10.30% of the company's stock.

Institutional Trading of Veeva Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC grew its stake in shares of 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 acquiring an additional 163 shares during the last quarter. Linonia Partnership LP boosted its holdings in Veeva Systems by 42.1% in the 4th quarter. Linonia Partnership LP now owns 1,202,972 shares of the technology company's stock valued at $252,925,000 after purchasing an additional 356,300 shares during the period. VSM Wealth Advisory LLC acquired a new stake in Veeva Systems in the 4th quarter worth $42,000. Amundi increased its holdings in shares of Veeva Systems by 9.8% during the 4th quarter. Amundi now owns 459,044 shares of the technology company's stock worth $99,750,000 after purchasing an additional 40,884 shares during the period. Finally, Townsquare Capital LLC increased its holdings in shares of Veeva Systems by 3.1% during the 4th quarter. Townsquare Capital LLC now owns 4,912 shares of the technology company's stock worth $1,033,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

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.