Stephens Begins Coverage on Veeva Systems (NYSE:VEEV)

Stephens initiated coverage on shares of Veeva Systems (NYSE:VEEV) in a research report released on Friday, Marketbeat.com reports. The brokerage issued an overweight rating and a $280.00 price target on the technology company’s stock.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada increased their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Raymond James increased their price objective on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Needham & Company LLC lifted their target price on shares of Veeva Systems from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Piper Sandler raised their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup increased their price target on Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $257.44.

Veeva Systems Trading Up 2.0 %

NYSE:VEEV opened at $224.15 on Friday. The firm has a fifty day simple moving average of $222.99 and a 200 day simple moving average of $205.20. The stock has a market capitalization of $36.39 billion, a PE ratio of 55.35, a P/E/G ratio of 2.03 and a beta of 0.82. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $258.93.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

A number of large investors have recently added to or reduced their stakes in VEEV. Oddo BHF Asset Management Sas bought a new stake in shares of Veeva Systems in the third quarter valued at about $11,770,000. Peapack Gladstone Financial Corp raised its holdings in shares of Veeva Systems by 5.6% in the third quarter. Peapack Gladstone Financial Corp now owns 70,147 shares of the technology company’s stock valued at $14,721,000 after buying an additional 3,741 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Veeva Systems by 77.1% in the third quarter. Tidal Investments LLC now owns 22,330 shares of the technology company’s stock valued at $4,686,000 after purchasing an additional 9,724 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Veeva Systems in the third quarter valued at about $168,000. Finally, World Investment Advisors LLC bought a new position in Veeva Systems in the third quarter valued at approximately $2,131,000. Institutional investors own 88.20% of the company’s stock.

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.