Analysts Set Veeva Systems Inc. (NYSE:VEEV) Price Target at $228.27

Shares of Veeva Systems Inc. (NYSE:VEEV) have earned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $228.27.

A number of analysts recently weighed in on the stock. Guggenheim upped their price objective on shares of Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Robert W. Baird increased their price objective on shares of Veeva Systems from $251.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a research note on Friday, June 21st. Bank of America dropped their target price on Veeva Systems from $240.00 to $204.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research report on Monday, July 15th.

Insider Activity

In related news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $184.33, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 8,391 shares in the company, valued at $1,546,713.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

Several hedge funds and other institutional investors have recently bought and sold shares of VEEV. Regal Investment Advisors LLC boosted its position in Veeva Systems by 42.9% in the 2nd quarter. Regal Investment Advisors LLC now owns 2,535 shares of the technology company’s stock worth $464,000 after purchasing an additional 761 shares in the last quarter. Quarry LP lifted its stake in shares of Veeva Systems by 39.4% in the 2nd quarter. Quarry LP now owns 421 shares of the technology company’s stock valued at $77,000 after purchasing an additional 119 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Veeva Systems by 122.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,116 shares of the technology company’s stock worth $2,034,000 after buying an additional 6,114 shares in the last quarter. Creative Planning boosted its holdings in Veeva Systems by 21.4% during the second quarter. Creative Planning now owns 37,579 shares of the technology company’s stock worth $6,877,000 after buying an additional 6,625 shares in the last quarter. Finally, Annandale Capital LLC acquired a new stake in Veeva Systems during the second quarter valued at $512,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Shares of VEEV stock opened at $196.96 on Friday. The company has a market capitalization of $31.84 billion, a P/E ratio of 58.10, a P/E/G ratio of 1.89 and a beta of 0.80. The company’s 50-day simple moving average is $186.31 and its two-hundred day simple moving average is $202.45. Veeva Systems has a one year low of $162.72 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.10. The company had revenue of $650.35 million for the quarter, compared to analysts’ expectations of $641.73 million. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. On average, research analysts expect that Veeva Systems will post 4.19 EPS for the current fiscal 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.