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

Shares of Veeva Systems Inc. (NYSE:VEEV) have been given a consensus rating of “Moderate Buy” by the twenty-three brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $229.96.

VEEV has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their price objective on shares of Veeva Systems from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, May 31st. Piper Sandler upped their price target on shares of Veeva Systems from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Morgan Stanley lowered their price objective on Veeva Systems from $210.00 to $173.00 and set an “underweight” rating on the stock in a report on Friday, May 31st. Truist Financial boosted their price objective on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Finally, Guggenheim raised their target price on Veeva Systems from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, July 18th.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 10.50% of the company’s stock.

Institutional Investors Weigh In On Veeva Systems

A number of institutional investors have recently modified their holdings of the company. National Bank of Canada FI increased its stake in Veeva Systems by 8.2% during the fourth quarter. National Bank of Canada FI now owns 13,318 shares of the technology company’s stock worth $2,519,000 after purchasing an additional 1,005 shares during the period. Private Advisor Group LLC increased its stake in Veeva Systems by 9.5% during the 4th quarter. Private Advisor Group LLC now owns 8,548 shares of the technology company’s stock worth $1,646,000 after buying an additional 741 shares during the period. BNP Paribas Financial Markets lifted its holdings in Veeva Systems by 127.8% during the 4th quarter. BNP Paribas Financial Markets now owns 68,041 shares of the technology company’s stock worth $13,099,000 after buying an additional 38,175 shares in the last quarter. AGF Management Ltd. purchased a new position in Veeva Systems in the 4th quarter valued at approximately $357,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Veeva Systems by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 280,098 shares of the technology company’s stock worth $53,926,000 after acquiring an additional 14,062 shares in the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Veeva Systems stock opened at $217.06 on Tuesday. The stock has a market capitalization of $35.09 billion, a PE ratio of 64.03, a price-to-earnings-growth ratio of 2.14 and a beta of 0.81. The business has a 50 day simple moving average of $196.82 and a 200-day simple moving average of $201.66. Veeva Systems has a 12 month low of $162.72 and a 12 month high of $236.90.

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.