Veeva Systems (NYSE:VEEV) Given New $195.00 Price Target at Morgan Stanley

Veeva Systems (NYSE:VEEV) had its target price upped by Morgan Stanley from $183.00 to $195.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the technology company’s stock.

A number of other research analysts have also recently commented on the stock. Guggenheim increased their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Evercore ISI increased their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Canaccord Genuity Group boosted their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Wells Fargo & Company increased their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Barclays boosted their price objective on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $256.58.

Veeva Systems Stock Performance

Veeva Systems stock opened at $219.67 on Tuesday. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market capitalization of $35.66 billion, a P/E ratio of 54.24, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. The stock has a fifty day moving average of $222.73 and a 200-day moving average of $204.84.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Veeva Systems

A number of institutional investors and hedge funds have recently made changes to their positions in VEEV. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Veeva Systems during the 3rd quarter worth approximately $26,000. True Wealth Design LLC increased its holdings in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Blue Trust Inc. raised its position in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after purchasing an additional 173 shares during the period. DT Investment Partners LLC bought a new position in shares of Veeva Systems in the 2nd quarter worth $35,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Veeva Systems in the 3rd quarter valued at $49,000. Institutional investors own 88.20% of the company’s stock.

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.