Stephens Reaffirms Overweight Rating for Veeva Systems (NYSE:VEEV)

Veeva Systems (NYSE:VEEV)‘s stock had its “overweight” rating reissued by research analysts at Stephens in a report issued on Thursday,Benzinga reports. They presently have a $280.00 price target on the technology company’s stock. Stephens’ price objective would suggest a potential upside of 18.88% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Morgan Stanley increased their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the stock an “underweight” rating in a research report on Thursday. Stifel Nicolaus lifted their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Canaccord Genuity Group lifted their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and set a $270.00 price objective on shares of Veeva Systems in a research report on Thursday. Finally, Evercore ISI boosted their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $254.80.

Veeva Systems Trading Up 7.1 %

Veeva Systems stock opened at $235.53 on Thursday. The firm’s fifty day moving average price is $223.82 and its two-hundred day moving average price is $219.54. The firm has a market capitalization of $38.24 billion, a price-to-earnings ratio of 57.79, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $258.93.

Institutional Investors Weigh In On Veeva Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its position in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Veeva Systems in the fourth quarter valued at $25,000. Smithfield Trust Co grew its holdings in shares of Veeva Systems by 145.5% in the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after purchasing an additional 80 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Veeva Systems in the fourth quarter valued at $31,000. Institutional investors own 88.20% of the company’s stock.

About Veeva Systems

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.