Veeva Systems (NYSE:VEEV) Given New $255.00 Price Target at KeyCorp

Veeva Systems (NYSE:VEEV - Free Report) had its price target reduced by KeyCorp from $285.00 to $255.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the technology company's stock.

A number of other equities research analysts have also recently issued reports on VEEV. Citigroup lifted their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Canaccord Genuity Group boosted their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Royal Bank of Canada raised their price target on shares of Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Evercore ISI boosted their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an "in-line" rating in a research note on Friday, December 6th. Finally, Morgan Stanley increased their target price on Veeva Systems from $183.00 to $195.00 and gave the company an "underweight" rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $257.63.

Veeva Systems Stock Up 2.7 %

Shares of NYSE:VEEV traded up $5.81 during trading on Wednesday, reaching $217.54. 1,280,370 shares of the company's stock traded hands, compared to its average volume of 981,954. Veeva Systems has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a 50-day simple moving average of $222.69 and a 200-day simple moving average of $208.17. The firm has a market cap of $35.32 billion, a PE ratio of 53.71, a P/E/G ratio of 2.03 and a beta of 0.84.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company's stock.

Institutional Trading of Veeva Systems

Several hedge funds have recently made changes to their positions in the business. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems in the 3rd quarter valued at about $26,000. True Wealth Design LLC raised its holdings in Veeva Systems by 3,375.0% in the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Fairscale Capital LLC purchased a new position in Veeva Systems in the second quarter worth approximately $46,000. Harvest Fund Management Co. Ltd acquired a new position in Veeva Systems during the 3rd quarter worth approximately $49,000. Finally, Quent Capital LLC increased its position in shares of Veeva Systems by 794.1% in the 3rd quarter. Quent Capital LLC now owns 304 shares of the technology company's stock valued at $64,000 after purchasing an additional 270 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.