Veeva Systems (NYSE:VEEV) Price Target Raised to $325.00 at Piper Sandler

Veeva Systems (NYSE:VEEV - Get Free Report) had its price objective raised by analysts at Piper Sandler from $255.00 to $325.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Piper Sandler's target price suggests a potential upside of 16.06% from the company's previous close.

VEEV has been the subject of several other reports. Wall Street Zen raised Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Stephens restated an "overweight" rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Barclays boosted their price objective on Veeva Systems from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday. KeyCorp reduced their price target on Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC upped their target price on Veeva Systems from $270.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Veeva Systems currently has an average rating of "Moderate Buy" and a consensus target price of $269.00.

Veeva Systems Trading Up 0.4%

Shares of NYSE VEEV traded up $0.99 during mid-day trading on Thursday, reaching $280.03. 3,578,987 shares of the company's stock were exchanged, compared to its average volume of 1,147,282. The business has a fifty day simple moving average of $230.48 and a 200 day simple moving average of $227.86. Veeva Systems has a twelve month low of $170.25 and a twelve month high of $285.70. The firm has a market capitalization of $45.56 billion, a price-to-earnings ratio of 69.14, a PEG ratio of 1.89 and a beta of 0.96.

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, beating analysts' consensus estimates of $1.74 by $0.23. The firm 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 business's revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company earned $1.50 earnings per share. Equities research analysts predict that Veeva Systems will post 4.35 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In other news, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 $1,960,701.60. This trade represents a 8.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems 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 completion of the sale, the insider now owns 25,889 shares of the company's stock, valued at $5,720,692.33. This trade represents a 4.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,869 shares of company stock valued at $1,284,917 in the last ninety days. 10.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Veeva Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centricity Wealth Management LLC purchased a new stake in shares of Veeva Systems during the 4th quarter worth $25,000. Abound Financial LLC purchased a new stake in shares of Veeva Systems in the first quarter valued at about $25,000. ORG Partners LLC purchased a new stake in shares of Veeva Systems in the first quarter valued at about $26,000. Smithfield Trust Co increased its stake in shares of Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock worth $27,000 after acquiring an additional 80 shares during the period. Finally, Avion Wealth increased its stake in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after acquiring an additional 127 shares during the period. Hedge funds and other institutional investors 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.