Veeva Systems Inc. (NYSE:VEEV) Given Average Rating of “Moderate Buy” by Analysts

Veeva Systems Inc. (NYSE:VEEV) has been given a consensus recommendation of “Moderate Buy” by the twenty-two brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $228.27.

A number of research analysts recently commented on the stock. Canaccord Genuity Group dropped their target price on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. Guggenheim lifted their target price on Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Robert W. Baird boosted their target price on Veeva Systems from $251.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, May 29th. Citigroup dropped their price target on Veeva Systems from $274.00 to $256.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. Finally, UBS Group reduced their price objective on Veeva Systems from $235.00 to $185.00 and set a “neutral” rating for the company in a research note on Friday, May 31st.

Insider Transactions at Veeva Systems

In related news, CFO Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 8,391 shares in the company, valued at $1,546,713.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems during the 1st quarter worth $28,000. DSM Capital Partners LLC acquired a new position in Veeva Systems during the fourth quarter worth about $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $32,000. Blue Trust Inc. grew its position in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the last quarter. Finally, First Financial Corp IN purchased a new position in shares of Veeva Systems during the 1st quarter worth approximately $35,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

NYSE:VEEV opened at $193.64 on Friday. Veeva Systems has a 12 month low of $162.72 and a 12 month high of $236.90. The firm has a market capitalization of $31.30 billion, a PE ratio of 57.12, a price-to-earnings-growth ratio of 1.89 and a beta of 0.80. The business’s fifty day moving average price is $185.84 and its 200 day moving average price is $202.50.

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