Veeva Systems (NYSE:VEEV) Coverage Initiated by Analysts at Scotiabank

Scotiabank initiated coverage on shares of Veeva Systems (NYSE:VEEV) in a research report released on Monday, Marketbeat Ratings reports. The brokerage issued a sector perform rating and a $235.00 price target on the technology company’s stock.

A number of other equities research analysts have also recently commented on the stock. UBS Group increased their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. Truist Financial boosted their target price on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. TD Cowen increased their price target on Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Finally, Guggenheim boosted their price target on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $236.92.

Veeva Systems Trading Up 1.7 %

Shares of NYSE:VEEV opened at $214.22 on Monday. The company has a market capitalization of $34.69 billion, a PE ratio of 57.13, a P/E/G ratio of 2.03 and a beta of 0.81. Veeva Systems has a 12-month low of $165.12 and a 12-month high of $240.68. The business’s fifty day simple moving average is $214.57 and its 200-day simple moving average is $201.09.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The company had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. Research analysts predict that Veeva Systems will post 4.21 EPS for the current year.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 10.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

Institutional investors have recently modified their holdings of the business. General American Investors Co. Inc. purchased a new position in Veeva Systems during the third quarter valued at $5,133,000. Procyon Advisors LLC acquired a new stake in Veeva Systems in the 3rd quarter worth about $712,000. Envestnet Portfolio Solutions Inc. increased its stake in Veeva Systems by 44.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock worth $5,450,000 after buying an additional 9,232 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock valued at $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Veeva Systems by 46.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 132,760 shares of the technology company’s stock valued at $30,786,000 after acquiring an additional 42,396 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.