Veeva Systems (NYSE:VEEV) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Veeva Systems (NYSE:VEEV) had its target price increased by JPMorgan Chase & Co. from $208.00 to $218.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

A number of other research firms also recently issued reports on VEEV. Truist Financial reaffirmed a “hold” rating and issued a $261.00 price objective (up previously from $207.00) on shares of Veeva Systems in a research note on Friday, December 6th. Barclays boosted their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Needham & Company LLC increased their price objective on shares of Veeva Systems from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group lifted their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Piper Sandler upped their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.58.

Veeva Systems Trading Down 2.2 %

Shares of VEEV stock opened at $221.54 on Monday. The stock has a market capitalization of $35.97 billion, a price-to-earnings ratio of 54.70, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93. The stock’s 50-day moving average price is $222.54 and its 200-day moving average price is $204.73.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of 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 trade represents a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Veeva Systems by 0.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock valued at $1,453,000 after acquiring an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. grew 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 during 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 in the last quarter. Park Place Capital Corp lifted 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 valued at $120,000 after buying an additional 59 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. boosted 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 in the last quarter. 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.