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

Shares of Veeva Systems Inc. (NYSE:VEEV) have been assigned a consensus rating of “Moderate Buy” from the twenty-seven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $255.74.

Several research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research note on Friday. Royal Bank of Canada lifted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. KeyCorp lowered their price target on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird lifted their price objective on Veeva Systems from $275.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Truist Financial lowered their target price on Veeva Systems from $261.00 to $210.00 and set a “hold” rating on the stock in a report on Monday, January 13th.

Insider Activity at Veeva Systems

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 directly owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently made changes to their positions in the business. Inspire Investing LLC lifted its position in shares of Veeva Systems by 18.1% during the fourth quarter. Inspire Investing LLC now owns 19,435 shares of the technology company’s stock worth $4,086,000 after purchasing an additional 2,985 shares during the last quarter. Wendell David Associates Inc. grew its position in shares of Veeva Systems by 951.4% in the 4th quarter. Wendell David Associates Inc. now owns 11,313 shares of the technology company’s stock worth $2,379,000 after acquiring an additional 10,237 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Veeva Systems by 146.5% in the 4th quarter. SG Americas Securities LLC now owns 13,792 shares of the technology company’s stock worth $2,900,000 after acquiring an additional 8,198 shares in the last quarter. Dakota Wealth Management bought a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $1,471,000. Finally, Clear Harbor Asset Management LLC raised its position in shares of Veeva Systems by 4.0% during the 4th quarter. Clear Harbor Asset Management LLC now owns 8,800 shares of the technology company’s stock valued at $1,850,000 after acquiring an additional 335 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Price Performance

NYSE VEEV opened at $216.67 on Monday. The business has a 50 day moving average price of $222.31 and a 200 day moving average price of $209.66. The company 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. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $258.93.

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.