Truist Financial Issues Positive Forecast for Veeva Systems (NYSE:VEEV) Stock Price

Veeva Systems (NYSE:VEEV) had its target price hoisted by Truist Financial from $210.00 to $217.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a hold rating on the technology company’s stock.

VEEV has been the subject of several other research reports. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Royal Bank of Canada boosted their price objective on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Barclays raised their target price on Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price target on shares of Veeva Systems in a report on Thursday. Finally, Citigroup raised their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.28.

Veeva Systems Trading Up 7.5 %

VEEV opened at $236.47 on Thursday. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a 50 day moving average of $224.25 and a two-hundred day moving average of $219.66. The firm has a market capitalization of $38.39 billion, a PE ratio of 58.39, a P/E/G ratio of 1.89 and a beta of 0.85.

Institutional Trading of Veeva Systems

A number of hedge funds have recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of 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 purchasing an additional 50 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Veeva Systems during the fourth quarter worth approximately $25,000. Smithfield Trust Co boosted its stake in Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after buying an additional 80 shares during the last quarter. True Wealth Design LLC boosted its stake in Veeva Systems by 3,375.0% during 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 during the last quarter. Finally, Avion Wealth increased its stake in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after acquiring an additional 127 shares during the last quarter. Institutional investors and hedge funds 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.