Veeva Systems Inc. (NYSE:VEEV) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Veeva Systems Inc. (NYSE:VEEV) have received a consensus recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $227.95.

Several research firms recently commented on VEEV. Stifel Nicolaus cut their price target on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 31st. Piper Sandler reduced their price target on Veeva Systems from $245.00 to $235.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Raymond James reissued an “outperform” rating and issued a $260.00 price objective on shares of Veeva Systems in a report on Tuesday, March 26th. Evercore ISI reduced their target price on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a research note on Friday, May 31st. Finally, Morgan Stanley dropped their price target on shares of Veeva Systems from $210.00 to $173.00 and set an “underweight” rating for the company in a research note on Friday, May 31st.

Insider Buying and Selling at Veeva Systems

In other news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the sale, the executive vice president now directly owns 21,983 shares of the company’s stock, valued at approximately $4,415,505.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the completion of the sale, the executive vice president now owns 21,983 shares in the company, valued at $4,415,505.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the transaction, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at $1,546,713.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,989 shares of company stock valued at $4,192,363. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC boosted its holdings in shares of Veeva Systems by 30.2% in the first quarter. Cetera Advisor Networks LLC now owns 57,352 shares of the technology company’s stock valued at $13,288,000 after acquiring an additional 13,305 shares during the period. Cetera Advisors LLC raised its holdings in shares of Veeva Systems by 199.0% in the first quarter. Cetera Advisors LLC now owns 17,118 shares of the technology company’s stock valued at $3,966,000 after buying an additional 11,393 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Veeva Systems by 284.3% during the first quarter. Cetera Investment Advisers now owns 86,405 shares of the technology company’s stock worth $20,019,000 after buying an additional 63,922 shares during the period. Swedbank AB purchased a new position in shares of Veeva Systems during the first quarter worth about $227,673,000. Finally, Virtu Financial LLC acquired a new position in Veeva Systems in the 1st quarter valued at about $323,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $181.33 on Thursday. The stock has a 50 day moving average price of $193.97 and a 200 day moving average price of $205.28. Veeva Systems has a one year low of $162.72 and a one year high of $236.90. The stock has a market capitalization of $29.31 billion, a price-to-earnings ratio of 53.49, a PEG ratio of 1.79 and a beta of 0.80.

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

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.