Brokerages Set Veeva Systems Inc. (NYSE:VEEV) Target Price at $229.96

Shares of Veeva Systems Inc. (NYSE:VEEV) have earned a consensus rating of “Moderate Buy” from the twenty-three research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $229.96.

A number of research firms recently commented on VEEV. Piper Sandler boosted their price target on Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Guggenheim boosted their target price on shares of Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. BTIG Research started coverage on shares of Veeva Systems in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price for the company. Truist Financial boosted their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Finally, Raymond James raised their price objective on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th.

Veeva Systems Stock Down 0.9 %

Shares of Veeva Systems stock opened at $217.95 on Tuesday. The company has a market capitalization of $35.23 billion, a price-to-earnings ratio of 64.29, a PEG ratio of 2.14 and a beta of 0.81. The stock’s 50-day simple moving average is $196.14 and its 200-day simple moving average is $201.88. Veeva Systems has a 52 week low of $162.72 and a 52 week high of $236.90.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated 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 directly owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is owned by corporate insiders.

Institutional Trading of Veeva Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of VEEV. Facet Wealth Inc. grew its holdings in shares of Veeva Systems by 3.2% in the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock worth $323,000 after purchasing an additional 48 shares during the last quarter. Clearbridge Investments LLC boosted its position in Veeva Systems by 0.4% in the 2nd quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock valued at $2,138,000 after buying an additional 52 shares during the period. Western Pacific Wealth Management LP grew its stake in Veeva Systems by 23.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock worth $71,000 after acquiring an additional 58 shares in the last quarter. OV Management LLC increased its position in shares of Veeva Systems by 1.0% during the second quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock worth $1,219,000 after acquiring an additional 63 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Veeva Systems by 14.7% during the fourth quarter. Quadrant Capital Group LLC now owns 530 shares of the technology company’s stock valued at $102,000 after acquiring an additional 68 shares in the last quarter. 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.