Veeva Systems (NYSE:VEEV) had its target price increased by research analysts at Morgan Stanley from $323.00 to $332.00 in a research note issued to investors on Wednesday, Analyst Ratings Network reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price objective suggests a potential upside of 21.21% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the company. Barclays raised their price target on Veeva Systems from $200.00 to $261.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 26th. They noted that the move was a valuation call. FBN Securities raised their price target on Veeva Systems from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. Guggenheim raised their price target on Veeva Systems from $225.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. SVB Leerink raised their price target on Veeva Systems from $167.00 to $282.00 and gave the company a “market perform” rating in a research report on Friday, August 28th. Finally, Piper Sandler raised their price target on Veeva Systems from $220.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Veeva Systems presently has a consensus rating of “Buy” and an average price target of $281.25.
Shares of VEEV stock opened at $273.90 on Wednesday. Veeva Systems has a 52-week low of $118.11 and a 52-week high of $313.99. The company has a market capitalization of $41.31 billion, a PE ratio of 132.96, a price-to-earnings-growth ratio of 10.89 and a beta of 0.91. The business’s fifty day moving average is $282.26 and its 200 day moving average is $258.88.
In other Veeva Systems news, EVP Alan Mateo sold 2,666 shares of Veeva Systems stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $259.35, for a total transaction of $691,427.10. Following the sale, the executive vice president now directly owns 11,638 shares of the company’s stock, valued at approximately $3,018,315.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 5,000 shares of Veeva Systems stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $265.45, for a total value of $1,327,250.00. Following the sale, the senior vice president now directly owns 6,151 shares in the company, valued at $1,632,782.95. The disclosure for this sale can be found here. Insiders sold 23,910 shares of company stock worth $6,628,634 over the last three months. 14.38% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its holdings in shares of Veeva Systems by 38.7% during the first quarter. Morgan Stanley now owns 14,023,808 shares of the technology company’s stock valued at $2,192,902,000 after purchasing an additional 3,914,812 shares during the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Veeva Systems during the second quarter valued at approximately $761,000. Signaturefd LLC lifted its holdings in shares of Veeva Systems by 28.5% during the second quarter. Signaturefd LLC now owns 988 shares of the technology company’s stock valued at $232,000 after purchasing an additional 219 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Veeva Systems during the second quarter valued at approximately $255,000. Finally, Mackay Shields LLC purchased a new position in shares of Veeva Systems during the second quarter valued at approximately $4,864,000. 79.56% 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 in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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