Veeva Systems (NYSE:VEEV) Price Target Raised to $201.00 at Morgan Stanley

Veeva Systems (NYSE:VEEV) had its price target hoisted by Morgan Stanley from $195.00 to $201.00 in a report issued on Thursday morning,Benzinga reports. They currently have an underweight rating on the technology company’s stock.

A number of other equities analysts have also commented on VEEV. KeyCorp cut their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Barclays lifted their price objective on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Wells Fargo & Company lifted their price objective on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Evercore ISI lifted their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research note on Friday, December 6th. Finally, Mizuho began coverage on Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $255.28.

Veeva Systems Trading Up 7.5 %

NYSE:VEEV opened at $236.47 on Thursday. The stock has a market cap of $38.39 billion, a P/E ratio of 58.39, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The stock’s 50-day moving average is $224.25 and its 200-day moving average is $219.66. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $258.93.

Hedge Funds Weigh In On Veeva Systems

A number of institutional investors have recently modified their holdings of the company. Siemens Fonds Invest GmbH grew its holdings in Veeva Systems by 1,538.3% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,195 shares of the technology company’s stock worth $11,605,000 after buying an additional 51,826 shares in the last quarter. Cim LLC grew its holdings in Veeva Systems by 1.8% during the fourth quarter. Cim LLC now owns 5,425 shares of the technology company’s stock worth $1,141,000 after buying an additional 98 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Veeva Systems during the fourth quarter worth $43,051,000. Capital A Wealth Management LLC bought a new stake in Veeva Systems during the fourth quarter worth $254,000. Finally, Heck Capital Advisors LLC bought a new stake in Veeva Systems during the fourth quarter worth $309,000. 88.20% of the stock is owned by institutional investors and hedge funds.

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.