Veeva Systems Inc. (NYSE:VEEV) Given Average Recommendation of “Moderate Buy” by Brokerages

Veeva Systems Inc. (NYSE:VEEV) has been assigned an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $257.44.

VEEV has been the topic of a number of research reports. TD Cowen boosted their price objective on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Bank of America boosted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Citigroup raised their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada lifted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Stephens assumed coverage on shares of Veeva Systems in a research report on Friday. They issued an “overweight” rating and a $280.00 price target for the company.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC grew its position in shares of Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after buying an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in Veeva Systems by 1.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after purchasing an additional 50 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Veeva Systems by 0.4% in the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after purchasing an additional 52 shares during the period. Park Place Capital Corp boosted its position in shares of Veeva Systems by 11.5% during the third quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after purchasing an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. grew its holdings in shares of Veeva Systems by 13.4% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock valued at $108,000 after buying an additional 61 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

NYSE VEEV opened at $224.89 on Thursday. Veeva Systems has a twelve month low of $170.25 and a twelve month high of $258.93. The stock has a market cap of $36.51 billion, a PE ratio of 55.53, a PEG ratio of 2.03 and a beta of 0.82. The firm has a 50-day simple moving average of $222.99 and a 200 day simple moving average of $205.55.

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.