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

Veeva Systems Inc. (NYSE:VEEV) has been given a consensus rating of “Moderate Buy” by the twenty brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $234.90.

VEEV has been the subject of a number of recent analyst reports. KeyCorp upped their price target on shares of Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a report on Thursday, February 22nd. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Piper Sandler upped their price target on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,836 shares of company stock worth $4,396,902. 10.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Maryland State Retirement & Pension System raised its position in shares of Veeva Systems by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 11,365 shares of the technology company’s stock valued at $2,633,000 after buying an additional 308 shares during the last quarter. Veracity Capital LLC bought a new stake in Veeva Systems in the first quarter worth $424,000. First Trust Direct Indexing L.P. increased its position in Veeva Systems by 19.0% in the first quarter. First Trust Direct Indexing L.P. now owns 1,403 shares of the technology company’s stock worth $325,000 after purchasing an additional 224 shares during the last quarter. Norden Group LLC bought a new stake in Veeva Systems in the first quarter worth $304,000. Finally, Valley National Advisers Inc. increased its position in Veeva Systems by 36.8% in the first quarter. Valley National Advisers Inc. now owns 1,674 shares of the technology company’s stock worth $387,000 after purchasing an additional 450 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Shares of VEEV opened at $198.37 on Friday. Veeva Systems has a 52 week low of $160.21 and a 52 week high of $236.90. The firm has a market cap of $32.00 billion, a P/E ratio of 61.61, a price-to-earnings-growth ratio of 2.02 and a beta of 0.74. The firm’s 50-day simple moving average is $221.17 and its 200 day simple moving average is $202.80.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The business had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. As a group, equities analysts forecast that Veeva Systems will post 4.11 earnings per share for the current year.

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.