Veeva Systems (NYSE:VEEV) Coverage Initiated by Analysts at Scotiabank

Equities researchers at Scotiabank started coverage on shares of Veeva Systems (NYSE:VEEV) in a research note issued on Monday,Benzinga reports. The brokerage set a “sector perform” rating and a $235.00 price target on the technology company’s stock. Scotiabank’s target price would suggest a potential upside of 9.98% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a report on Friday, November 8th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Raymond James increased their target price on Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Piper Sandler raised their price objective on Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Barclays raised their price objective on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.92.

Veeva Systems Stock Up 0.1 %

Veeva Systems stock traded up $0.32 during midday trading on Monday, reaching $213.68. 978,465 shares of the stock traded hands, compared to its average volume of 947,764. Veeva Systems has a 12 month low of $165.12 and a 12 month high of $240.68. The stock’s fifty day moving average is $215.37 and its 200-day moving average is $200.80. The stock has a market cap of $34.60 billion, a P/E ratio of 56.98, a PEG ratio of 2.06 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) 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 business had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. On average, equities analysts predict that Veeva Systems will post 4.21 EPS for the current fiscal year.

Insider Activity at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. The trade was a 20.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors have recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Veeva Systems during the 3rd quarter worth approximately $26,000. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems during the first quarter worth $28,000. True Wealth Design LLC grew its stake in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after purchasing an additional 135 shares in the last quarter. Blue Trust Inc. grew its stake 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 in the last quarter. Finally, DT Investment Partners LLC acquired a new position in Veeva Systems in the second quarter valued at $35,000. 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.