Veeva Systems Inc. (NYSE:VEEV) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Veeva Systems Inc. (NYSE:VEEV) has been assigned an average rating of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $255.74.

Several analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. KeyCorp decreased their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Guggenheim lifted their price objective on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Scotiabank increased their target price on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Friday, December 6th. Finally, Mizuho initiated coverage on Veeva Systems in a report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price on the stock.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm’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 sale, the insider now directly owns 27,013 shares of the company’s stock, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

A number of large investors have recently bought and sold shares of VEEV. General American Investors Co. Inc. acquired a new position in Veeva Systems in the third quarter worth $5,133,000. Toronto Dominion Bank raised its holdings in shares of Veeva Systems by 39.1% in the third quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after buying an additional 5,673 shares during the last quarter. Procyon Advisors LLC acquired a new position in Veeva Systems during the 3rd quarter worth about $712,000. Principal Financial Group Inc. grew its holdings in Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Veeva Systems by 3.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after acquiring an additional 2,733 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Up 0.9 %

Shares of Veeva Systems stock opened at $216.67 on Monday. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93. The stock has a 50 day moving average price of $222.68 and a two-hundred day moving average price of $209.23. The stock has a market capitalization of $35.18 billion, a P/E ratio of 53.50, a PEG ratio of 1.91 and a beta of 0.84.

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.