Robert W. Baird Issues Positive Forecast for Veeva Systems (NYSE:VEEV) Stock Price

Veeva Systems (NYSE:VEEV) had its price target raised by Robert W. Baird from $283.00 to $285.00 in a report published on Thursday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

VEEV has been the topic of a number of other reports. Scotiabank raised their price target on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Friday, December 6th. Morgan Stanley lifted their target price on Veeva Systems from $183.00 to $195.00 and gave the stock an “underweight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and lowered their target price for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Royal Bank of Canada lifted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company lifted their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $255.28.

Veeva Systems Stock Performance

Shares of VEEV opened at $236.47 on Thursday. The firm has a market capitalization of $38.39 billion, a price-to-earnings ratio of 58.39, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. Veeva Systems has a one year low of $170.25 and a one year high of $258.93. The stock’s fifty day moving average is $224.25 and its 200-day moving average is $219.66.

Institutional Investors Weigh In On Veeva Systems

Institutional investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB boosted its position in Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems during the 4th quarter valued at about $25,000. Smithfield Trust Co lifted its holdings in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after buying an additional 80 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Veeva Systems during the 4th quarter valued at about $31,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.