JMP Securities reissued their hold rating on shares of Veeva Systems Inc. (NYSE:VEEV) in a report issued on Thursday morning.

Several other brokerages have also recently weighed in on VEEV. Deutsche Bank AG boosted their price objective on shares of Veeva Systems from $36.00 to $44.00 and gave the stock a hold rating in a research note on Wednesday, November 23rd. KeyCorp boosted their price objective on shares of Veeva Systems from $42.00 to $48.00 and gave the stock an overweight rating in a research note on Wednesday, November 23rd. Canaccord Genuity boosted their price objective on shares of Veeva Systems from $46.00 to $48.00 and gave the stock a buy rating in a research note on Wednesday, November 23rd. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $45.00 to $48.00 and gave the stock a buy rating in a research note on Wednesday, November 23rd. Finally, Bank of America Corp. reissued a hold rating and issued a $44.00 price objective on shares of Veeva Systems in a research note on Friday, September 30th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $44.07.

Shares of Veeva Systems (NYSE:VEEV) opened at 47.36 on Thursday. Veeva Systems has a 1-year low of $19.97 and a 1-year high of $47.76. The firm has a 50 day moving average price of $39.68 and a 200 day moving average price of $37.51. The firm has a market cap of $6.42 billion, a P/E ratio of 105.24 and a beta of 1.60.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Tuesday, November 22nd. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. Veeva Systems had a net margin of 12.73% and a return on equity of 12.84%. The firm had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $135.67 million. During the same quarter in the previous year, the firm posted $0.12 earnings per share. The company’s revenue was up 33.6% on a year-over-year basis. Analysts anticipate that Veeva Systems will post $0.63 EPS for the current year.

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In related news, EVP Alan Mateo sold 52,339 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $45.01, for a total value of $2,355,778.39. Following the sale, the executive vice president now owns 6,409 shares in the company, valued at approximately $288,469.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Matthew J. Wallach sold 84,000 shares of the company’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $41.47, for a total transaction of $3,483,480.00. Following the completion of the sale, the president now owns 42,000 shares in the company, valued at approximately $1,741,740. The disclosure for this sale can be found here. 19.17% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of VEEV. William Blair Investment Management LLC acquired a new stake in Veeva Systems during the second quarter worth $75,081,000. Vanguard Group Inc. raised its stake in Veeva Systems by 26.0% in the second quarter. Vanguard Group Inc. now owns 6,180,083 shares of the company’s stock valued at $210,865,000 after buying an additional 1,276,212 shares during the period. Lord Abbett & CO. LLC raised its stake in Veeva Systems by 124.4% in the second quarter. Lord Abbett & CO. LLC now owns 2,274,863 shares of the company’s stock valued at $77,618,000 after buying an additional 1,261,115 shares during the period. 1832 Asset Management L.P. raised its stake in Veeva Systems by 724.3% in the second quarter. 1832 Asset Management L.P. now owns 1,266,900 shares of the company’s stock valued at $42,615,000 after buying an additional 1,113,200 shares during the period. Finally, Baird Financial Group Inc. purchased a new stake in Veeva Systems during the second quarter valued at approximately $36,338,000. Institutional investors own 69.20% of the company’s stock.

Veeva Systems Company Profile

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

5 Day Chart for NYSE:VEEV

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