Analysts Set Veeva Systems Inc. (NYSE:VEEV) Target Price at $257.63

Shares of Veeva Systems Inc. (NYSE:VEEV) have been given a consensus recommendation of “Moderate Buy” by the twenty-seven brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $255.74.

A number of analysts have recently issued reports on VEEV shares. Bank of America increased their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company lifted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Guggenheim upped their price target on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Stifel Nicolaus lifted their price objective on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, KeyCorp dropped their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th.

Insider Buying and Selling at Veeva Systems

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

Hedge Funds Weigh In On Veeva Systems

A number of hedge funds have recently made changes to their positions in VEEV. Daiwa Securities Group Inc. raised its position in Veeva Systems by 4.9% in the second quarter. Daiwa Securities Group Inc. now owns 10,606 shares of the technology company’s stock worth $1,941,000 after purchasing an additional 500 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Veeva Systems by 4.7% in the 2nd quarter. American Century Companies Inc. now owns 453,505 shares of the technology company’s stock valued at $82,996,000 after purchasing an additional 20,514 shares during the period. Meeder Advisory Services Inc. raised its holdings in shares of Veeva Systems by 26.6% in the 2nd quarter. Meeder Advisory Services Inc. now owns 2,630 shares of the technology company’s stock worth $481,000 after buying an additional 552 shares in the last quarter. Dai ichi Life Insurance Company Ltd lifted its position in shares of Veeva Systems by 465.5% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 6,074 shares of the technology company’s stock worth $1,112,000 after buying an additional 5,000 shares during the period. Finally, Thoroughbred Financial Services LLC acquired a new stake in Veeva Systems in the 2nd quarter valued at $258,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.6 %

Shares of Veeva Systems stock opened at $212.03 on Monday. Veeva Systems has a 1 year low of $170.25 and a 1 year high of $258.93. The company has a market cap of $34.42 billion, a P/E ratio of 52.35, a P/E/G ratio of 2.03 and a beta of 0.84. The stock has a 50-day moving average price of $222.94 and a 200 day moving average price of $209.17.

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.