Veeva Systems (NYSE:VEEV) Price Target Raised to $249.00

Veeva Systems (NYSE:VEEV) had its price objective raised by research analysts at JPMorgan Chase & Co. from $218.00 to $249.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 5.11% from the stock’s current price.

Several other research firms have also recently commented on VEEV. Scotiabank increased their price objective on Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research report on Thursday, March 6th. Bank of America increased their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. KeyCorp dropped their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Stephens reaffirmed an “overweight” rating and set a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Trading Down 0.1 %

VEEV stock traded down $0.27 during midday trading on Thursday, hitting $236.91. The company’s stock had a trading volume of 100,969 shares, compared to its average volume of 1,002,860. The firm’s 50-day moving average is $228.49 and its 200-day moving average is $221.93. Veeva Systems has a 12 month low of $170.25 and a 12 month high of $258.93. The company has a market cap of $38.46 billion, a PE ratio of 58.39, a P/E/G ratio of 1.89 and a beta of 0.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VEEV. 111 Capital purchased a new position in shares of Veeva Systems in the 4th quarter worth approximately $678,000. NorthCrest Asset Manangement LLC boosted its stake in Veeva Systems by 2.1% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 48,781 shares of the technology company’s stock worth $10,256,000 after buying an additional 1,011 shares during the period. PKO Investment Management Joint Stock Co purchased a new stake in shares of Veeva Systems in the fourth quarter valued at $336,000. Centaurus Financial Inc. raised its stake in shares of Veeva Systems by 11.8% in the fourth quarter. Centaurus Financial Inc. now owns 1,493 shares of the technology company’s stock valued at $314,000 after acquiring an additional 158 shares during the period. Finally, Siemens Fonds Invest GmbH boosted its stake in shares of Veeva Systems by 1,538.3% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,195 shares of the technology company’s stock worth $11,605,000 after purchasing an additional 51,826 shares during the period. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Company Profile

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.