Veeva Systems Inc. (NYSE:VEEV) Receives $228.27 Consensus Target Price from Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV) have earned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $228.27.

VEEV has been the topic of a number of recent research reports. Evercore ISI decreased their target price on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a report on Friday, May 31st. Bank of America decreased their price objective on Veeva Systems from $240.00 to $204.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Stifel Nicolaus cut their price objective on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a research note on Friday, June 21st. Finally, Citigroup dropped their price target on shares of Veeva Systems from $274.00 to $256.00 and set a “buy” rating for the company in a research report on Monday, June 3rd.

Insiders Place Their Bets

In related news, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $184.33, for a total value of $2,764,950.00. Following the completion of the transaction, the chief financial officer now owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Institutional Trading of Veeva Systems

Several hedge funds and other institutional investors have recently bought and sold shares of VEEV. Linscomb & Williams Inc. purchased a new stake in shares of Veeva Systems in the fourth quarter valued at $1,479,000. Robeco Institutional Asset Management B.V. grew its holdings in Veeva Systems by 32.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company’s stock valued at $365,000 after purchasing an additional 50,868 shares during the last quarter. APG Asset Management US Inc. purchased a new stake in Veeva Systems in the 4th quarter worth about $5,756,000. Quantum Capital Management LLC NJ raised its position in Veeva Systems by 9.8% in the 4th quarter. Quantum Capital Management LLC NJ now owns 329,867 shares of the technology company’s stock worth $63,506,000 after purchasing an additional 29,525 shares during the period. Finally, Eisler Capital UK Ltd. bought a new stake in Veeva Systems in the fourth quarter worth about $1,408,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.3 %

NYSE VEEV opened at $193.64 on Friday. The company has a 50-day moving average price of $185.84 and a 200-day moving average price of $202.50. Veeva Systems has a 52 week low of $162.72 and a 52 week high of $236.90. The firm has a market capitalization of $31.30 billion, a P/E ratio of 57.12, a PEG ratio of 1.89 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The business had revenue of $650.35 million during the quarter, compared to analysts’ expectations of $641.73 million. As a group, equities research analysts anticipate that Veeva Systems will post 4.19 EPS for the current year.

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.