Veeva Systems Inc. (NYSE:VEEV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Veeva Systems Inc. (NYSE:VEEV) has been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $228.27.

A number of research analysts have commented on the company. Citigroup decreased their price objective on Veeva Systems from $274.00 to $256.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Stifel Nicolaus decreased their price objective on Veeva Systems from $250.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Bank of America decreased their price objective on Veeva Systems from $240.00 to $204.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Truist Financial decreased their price objective on Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a report on Friday, June 14th. Finally, StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Friday, April 12th.

Veeva Systems Trading Up 3.2 %

VEEV opened at $192.43 on Monday. Veeva Systems has a 1-year low of $162.72 and a 1-year high of $236.90. The stock’s fifty day simple moving average is $187.20 and its 200 day simple moving average is $204.73. The stock has a market cap of $31.11 billion, a PE ratio of 56.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The business had revenue of $650.35 million for the quarter, compared to analysts’ expectations of $641.73 million. Equities analysts forecast that Veeva Systems will post 4.19 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, the chief financial officer now directly owns 8,391 shares in the company, valued at approximately $1,546,713.03. The sale was disclosed in a filing with the SEC, which is available through this link. 10.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Veeva Systems

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Veeva Systems by 7.5% in the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock valued at $3,278,430,000 after purchasing an additional 991,208 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Veeva Systems by 6.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,167,960 shares of the technology company’s stock valued at $417,376,000 after purchasing an additional 122,546 shares during the last quarter. Van ECK Associates Corp raised its position in Veeva Systems by 9.0% in the first quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock valued at $448,123,000 after purchasing an additional 159,085 shares during the last quarter. Norges Bank bought a new position in Veeva Systems in the fourth quarter valued at about $305,543,000. Finally, TD Asset Management Inc raised its position in Veeva Systems by 17.5% in the first quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock valued at $284,335,000 after purchasing an additional 182,762 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

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.