Shares of Veeva Systems Inc (NYSE:VEEV) have received an average rating of “Buy” from the twenty analysts that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $177.72.
A number of equities analysts have weighed in on VEEV shares. Piper Sandler started coverage on shares of Veeva Systems in a research report on Friday. They set an “overweight” rating and a $188.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $187.00 target price on shares of Veeva Systems in a research report on Monday, November 25th. Morgan Stanley upgraded shares of Veeva Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $160.00 to $175.00 in a research report on Monday, January 13th. Evercore ISI reiterated a “hold” rating and set a $170.00 target price on shares of Veeva Systems in a research report on Thursday, November 28th. Finally, Deutsche Bank cut their target price on shares of Veeva Systems from $160.00 to $150.00 and set a “hold” rating for the company in a research report on Tuesday, January 7th. They noted that the move was a valuation call.
VEEV traded up $4.92 during trading on Friday, hitting $158.87. 1,045,668 shares of the company traded hands, compared to its average volume of 1,176,782. The firm has a market cap of $22.89 billion, a P/E ratio of 81.89, a price-to-earnings-growth ratio of 3.64 and a beta of 1.23. The stock’s fifty day moving average is $146.34 and its 200 day moving average is $150.18. The company has a quick ratio of 5.40, a current ratio of 5.40 and a debt-to-equity ratio of 0.01. Veeva Systems has a one year low of $110.23 and a one year high of $176.90.
In other news, CFO Timothy S. Cabral sold 464 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $141.16, for a total value of $65,498.24. Following the sale, the chief financial officer now directly owns 2,344 shares of the company’s stock, valued at $330,879.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alan Mateo sold 4,026 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $148.87, for a total transaction of $599,350.62. Following the completion of the sale, the executive vice president now directly owns 18,967 shares in the company, valued at $2,823,617.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,255 shares of company stock worth $4,978,719. Insiders own 14.38% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in Veeva Systems by 0.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 13,960 shares of the technology company’s stock valued at $1,964,000 after purchasing an additional 73 shares in the last quarter. Pinnacle Financial Partners Inc. raised its stake in Veeva Systems by 5.4% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 1,509 shares of the technology company’s stock valued at $212,000 after purchasing an additional 77 shares in the last quarter. Bell Bank raised its stake in Veeva Systems by 1.4% in the fourth quarter. Bell Bank now owns 5,698 shares of the technology company’s stock valued at $801,000 after purchasing an additional 78 shares in the last quarter. Cim LLC raised its stake in Veeva Systems by 0.9% in the fourth quarter. Cim LLC now owns 8,909 shares of the technology company’s stock valued at $1,253,000 after purchasing an additional 80 shares in the last quarter. Finally, Hanseatic Management Services Inc. raised its stake in Veeva Systems by 1.0% in the fourth quarter. Hanseatic Management Services Inc. now owns 10,261 shares of the technology company’s stock valued at $1,443,000 after purchasing an additional 99 shares in the last quarter. 77.51% of the stock is currently owned by hedge funds and other institutional investors.
About Veeva Systems
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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