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

Veeva Systems Inc. (NYSE:VEEV) has been given an average rating of “Moderate Buy” by the twenty research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $227.95.

VEEV has been the subject of several research reports. Raymond James reiterated an “outperform” rating and issued a $260.00 target price on shares of Veeva Systems in a research note on Tuesday, March 26th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Piper Sandler lowered their price objective on Veeva Systems from $245.00 to $235.00 and set an “overweight” rating on the stock in a research report on Friday, May 31st. Barclays reduced their target price on Veeva Systems from $245.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Finally, Canaccord Genuity Group lowered their price target on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, May 31st.

Insider Activity

In related news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares in the company, valued at approximately $2,212,756.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the transaction, the senior vice president now directly owns 10,668 shares in the company, valued at approximately $2,212,756.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,989 shares of company stock worth $4,192,363. 10.50% of the stock is owned by corporate insiders.

Institutional Trading of Veeva Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in shares of Veeva Systems during the 1st quarter worth approximately $28,000. Operose Advisors LLC bought a new position in Veeva Systems in the third quarter valued at approximately $29,000. DSM Capital Partners LLC acquired a new stake in Veeva Systems during the 4th quarter worth $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Veeva Systems during the 4th quarter valued at $32,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after purchasing an additional 77 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Veeva Systems stock opened at $181.33 on Thursday. Veeva Systems has a 52 week low of $162.72 and a 52 week high of $236.90. The firm has a market capitalization of $29.31 billion, a PE ratio of 53.49, a PEG ratio of 1.79 and a beta of 0.80. The business’s 50-day simple moving average is $193.97 and its 200-day simple moving average is $205.28.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.93 by $0.10. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The company had revenue of $650.35 million for the quarter, compared to the consensus estimate of $641.73 million. Research analysts forecast that Veeva Systems will post 4.19 earnings per share for the current 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.