Veeva Systems Inc. (NYSE:VEEV) Receives $236.92 Consensus Target Price from Brokerages

Veeva Systems Inc. (NYSE:VEEV) has received a consensus recommendation of “Moderate Buy” from the twenty-four analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $236.92.

Several equities analysts recently issued reports on VEEV shares. Guggenheim increased their target price on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Barclays raised their price target on shares of Veeva Systems from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Truist Financial upped their price objective on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. UBS Group lifted their price target on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th.

Insider Transactions at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Peapack Gladstone Financial Corp increased its position in Veeva Systems by 5.6% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 70,147 shares of the technology company’s stock worth $14,721,000 after purchasing an additional 3,741 shares during the period. Tidal Investments LLC increased its position in Veeva Systems by 77.1% during the 3rd quarter. Tidal Investments LLC now owns 22,330 shares of the technology company’s stock worth $4,686,000 after purchasing an additional 9,724 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Veeva Systems during the 3rd quarter worth approximately $168,000. World Investment Advisors LLC acquired a new position in Veeva Systems during the 3rd quarter worth approximately $2,131,000. Finally, Sanctuary Advisors LLC increased its position in Veeva Systems by 19.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 7,335 shares of the technology company’s stock worth $1,589,000 after purchasing an additional 1,206 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

Veeva Systems stock opened at $226.88 on Friday. The stock has a market capitalization of $36.74 billion, a PE ratio of 60.50, a price-to-earnings-growth ratio of 2.09 and a beta of 0.81. Veeva Systems has a 12 month low of $165.12 and a 12 month high of $240.68. The business has a 50 day simple moving average of $214.98 and a 200-day simple moving average of $201.48.

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

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.