Veeva Systems (NYSE:VEEV) Coverage Initiated at BNP Paribas

BNP Paribas started coverage on shares of Veeva Systems (NYSE:VEEV) in a report released on Tuesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $286.00 price target on the technology company’s stock.

VEEV has been the topic of several other reports. Guggenheim increased their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the company a buy rating in a research note on Tuesday, October 1st. Truist Financial increased their price objective on Veeva Systems from $197.00 to $207.00 and gave the company a hold rating in a research report on Tuesday, September 3rd. Raymond James lifted their target price on Veeva Systems from $230.00 to $235.00 and gave the company an outperform rating in a research note on Thursday, August 29th. Needham & Company LLC reaffirmed a buy rating and set a $260.00 price target on shares of Veeva Systems in a research note on Thursday, August 29th. Finally, Piper Sandler raised their price target on Veeva Systems from $225.00 to $230.00 and gave the company an overweight rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $232.96.

Veeva Systems Price Performance

VEEV stock opened at $211.32 on Tuesday. The stock has a market capitalization of $34.16 billion, a price-to-earnings ratio of 62.34, a P/E/G ratio of 2.01 and a beta of 0.81. The business has a fifty day moving average price of $204.85 and a 200 day moving average price of $199.60. Veeva Systems has a fifty-two week low of $162.72 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The company had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. On average, equities analysts expect that Veeva Systems will post 4.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is owned by insiders.

Institutional Trading of Veeva Systems

Several large investors have recently made changes to their positions in VEEV. Advisors Asset Management Inc. bought a new position in Veeva Systems in the first quarter worth approximately $28,000. Blue Trust Inc. raised its position in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares during the period. First Financial Corp IN bought a new position in shares of Veeva Systems in the 1st quarter worth $35,000. DT Investment Partners LLC acquired a new stake in Veeva Systems in the 2nd quarter valued at $35,000. Finally, Larson Financial Group LLC increased its stake in Veeva Systems by 1,153.8% during the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. 88.20% of the stock is currently 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.