Veeva Systems (NYSE:VEEV) Price Target Raised to $283.00 at Robert W. Baird

Veeva Systems (NYSE:VEEV) had its price target increased by Robert W. Baird from $275.00 to $283.00 in a report released on Friday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other research analysts also recently weighed in on the company. Guggenheim upped their price target on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. UBS Group upped their price target on Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Truist Financial upped their price target on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. Bank of America upped their price target on Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their price target on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $254.04.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $250.45 on Friday. The company has a market capitalization of $40.56 billion, a price-to-earnings ratio of 61.84, a P/E/G ratio of 2.30 and a beta of 0.82. The business’s 50-day moving average is $217.50 and its 200-day moving average is $202.61. Veeva Systems has a 1 year low of $165.12 and a 1 year high of $258.93.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors have recently made changes to their positions in VEEV. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Veeva Systems in the third quarter worth $26,000. True Wealth Design LLC raised its position in shares of Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after buying an additional 135 shares in the last quarter. Blue Trust Inc. raised its position in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after buying an additional 173 shares in the last quarter. DT Investment Partners LLC purchased a new stake in shares of Veeva Systems in the second quarter worth $35,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Veeva Systems in the third quarter worth $49,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

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.