Robert W. Baird Boosts Veeva Systems (NYSE:VEEV) Price Target to $251.00

Veeva Systems (NYSE:VEEV) had its target price lifted by Robert W. Baird from $245.00 to $251.00 in a research report sent to investors on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity Group decreased their price target on Veeva Systems from $220.00 to $210.00 and set a hold rating for the company in a research note on Friday, May 31st. Guggenheim boosted their price target on shares of Veeva Systems from $211.00 to $233.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Barclays reduced their price objective on shares of Veeva Systems from $245.00 to $220.00 and set an overweight rating for the company in a research report on Friday, May 31st. Evercore ISI cut their target price on shares of Veeva Systems from $230.00 to $200.00 and set an in-line rating for the company in a research note on Friday, May 31st. Finally, Royal Bank of Canada restated an outperform rating and issued a $250.00 price target on shares of Veeva Systems in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $230.13.

Veeva Systems Stock Performance

Shares of VEEV opened at $216.44 on Thursday. Veeva Systems has a 1 year low of $162.72 and a 1 year high of $236.90. The firm has a fifty day moving average of $189.12 and a 200-day moving average of $202.12. The company has a market cap of $34.99 billion, a price-to-earnings ratio of 63.85, a price-to-earnings-growth ratio of 1.95 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The company had revenue of $650.35 million for the quarter, compared to analysts’ expectations of $641.73 million. Analysts predict that Veeva Systems will post 4.19 EPS for the current year.

Insider Activity

In related news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the sale, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the sale, the chief financial officer now owns 8,391 shares in the company, valued at $1,546,713.03. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. acquired a new stake in Veeva Systems in the 1st quarter valued at $28,000. DSM Capital Partners LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Veeva Systems in the 4th quarter valued at $32,000. Blue Trust Inc. grew its holdings in shares of Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares during the last quarter. Finally, First Financial Corp IN acquired a new stake in shares of Veeva Systems during the 1st quarter worth about $35,000. Institutional investors own 88.20% of the company’s stock.

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.