Veeva Systems (NYSE:VEEV) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Veeva Systems (NYSE:VEEV) from a buy rating to a hold rating in a report released on Friday.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Citigroup lifted their price objective on Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Guggenheim increased their target price on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Piper Sandler boosted their price target on Veeva Systems from $225.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, UBS Group upped their price target on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $232.87.

Veeva Systems Trading Up 1.9 %

VEEV stock traded up $3.95 during trading on Friday, reaching $212.78. 576,614 shares of the stock were exchanged, compared to its average volume of 705,087. Veeva Systems has a twelve month low of $162.72 and a twelve month high of $236.90. The company has a market capitalization of $34.46 billion, a P/E ratio of 56.74, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81. The stock has a 50 day simple moving average of $212.62 and a 200-day simple moving average of $199.04.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. Equities analysts predict that Veeva Systems will post 4.21 EPS for the current year.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Veeva Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems during the 1st quarter valued at $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems during the third quarter worth $26,000. Larson Financial Group LLC grew its stake in shares of Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock worth $38,000 after purchasing an additional 150 shares during the period. Blue Trust Inc. increased its holdings in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new position in Veeva Systems in the second quarter valued at about $35,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Company Profile

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.