Stifel Nicolaus Raises Veeva Systems (NYSE:VEEV) Price Target to $272.00

Veeva Systems (NYSE:VEEV) had its target price lifted by equities research analysts at Stifel Nicolaus from $240.00 to $272.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 8.60% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Raymond James boosted their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Saturday, November 9th. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Bank of America increased their price target on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Barclays boosted their price target on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.04.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $250.45 on Friday. The company has a market capitalization of $40.56 billion, a PE ratio of 61.84, a P/E/G ratio of 2.30 and a beta of 0.82. The company has a 50-day simple moving average of $218.29 and a two-hundred day simple moving average of $202.85. Veeva Systems has a one year low of $165.12 and a one year high of $258.93.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mather Group LLC. boosted its holdings in shares of Veeva Systems by 166.3% during the 2nd quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after purchasing an additional 158 shares during the last quarter. CWM LLC lifted its position in Veeva Systems by 41.5% during the second quarter. CWM LLC now owns 4,196 shares of the technology company’s stock worth $768,000 after buying an additional 1,230 shares in the last quarter. Simplicity Wealth LLC boosted its stake in Veeva Systems by 1.7% during the second quarter. Simplicity Wealth LLC now owns 4,029 shares of the technology company’s stock worth $737,000 after buying an additional 69 shares during the last quarter. Blue Zone Wealth Advisors LLC grew its holdings in Veeva Systems by 3.5% in the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 13,999 shares of the technology company’s stock valued at $2,562,000 after buying an additional 469 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Veeva Systems by 1,000.0% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,200 shares of the technology company’s stock worth $402,000 after acquiring an additional 2,000 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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.