Veeva Systems (NYSE:VEEV) Price Target Lowered to $210.00 at Truist Financial

Veeva Systems (NYSE:VEEV) had its price objective decreased by Truist Financial from $261.00 to $210.00 in a research report released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the technology company’s stock.

A number of other analysts have also commented on the stock. Canaccord Genuity Group upped their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Bank of America raised their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Stephens initiated coverage on Veeva Systems in a research report on Friday, December 20th. They issued an “overweight” rating and a $280.00 target price for the company. Finally, KeyCorp dropped their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target of $255.74.

Veeva Systems Stock Up 0.6 %

Shares of Veeva Systems stock opened at $212.03 on Monday. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93. The firm has a market capitalization of $34.42 billion, a PE ratio of 52.35, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84. The stock’s fifty day moving average is $222.94 and its 200-day moving average is $209.17.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the transaction, the senior vice president now owns 8,061 shares in the company, valued at $1,856,448.30. This trade represents a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the sale, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Veeva Systems

Several large investors have recently made changes to their positions in the business. Dai ichi Life Insurance Company Ltd lifted its holdings in shares of Veeva Systems by 465.5% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 6,074 shares of the technology company’s stock worth $1,112,000 after buying an additional 5,000 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in Veeva Systems during the second quarter worth $258,000. J.W. Cole Advisors Inc. acquired a new position in Veeva Systems during the 2nd quarter valued at $221,000. Plato Investment Management Ltd boosted its holdings in Veeva Systems by 19.5% in the 2nd quarter. Plato Investment Management Ltd now owns 6,349 shares of the technology company’s stock valued at $1,162,000 after purchasing an additional 1,037 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Veeva Systems by 26.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 378,380 shares of the technology company’s stock worth $69,259,000 after purchasing an additional 78,654 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.