Veeva Systems (NYSE:VEEV - Free Report) had its price objective raised by Morgan Stanley from $183.00 to $195.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the technology company's stock.
Several other brokerages have also commented on VEEV. TD Cowen boosted their price target on Veeva Systems from $180.00 to $192.00 and gave the stock a "hold" rating in a research note on Thursday, August 29th. Robert W. Baird increased their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Stifel Nicolaus lifted their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a report on Saturday, November 9th. Finally, Royal Bank of Canada raised their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems has an average rating of "Moderate Buy" and an average target price of $256.58.
View Our Latest Stock Report on Veeva Systems
Veeva Systems Trading Up 0.8 %
Shares of NYSE:VEEV traded up $1.77 during midday trading on Tuesday, hitting $226.46. The stock had a trading volume of 1,371,482 shares, compared to its average volume of 989,543. Veeva Systems has a 1 year low of $170.25 and a 1 year high of $258.93. The stock has a 50 day moving average price of $221.81 and a two-hundred day moving average price of $204.25. The company has a market capitalization of $36.77 billion, a PE ratio of 55.09, a P/E/G ratio of 2.03 and a beta of 0.82.
Insider Buying and Selling at Veeva Systems
In other news, SVP Jonathan Faddis sold 1,694 shares of the company's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total transaction of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares of the company's stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the sale, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.50% of the company's stock.
Hedge Funds Weigh In On Veeva Systems
A number of hedge funds have recently made changes to their positions in the business. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Veeva Systems in the 3rd quarter worth approximately $26,000. True Wealth Design LLC raised its position in Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after purchasing an additional 135 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock valued at $33,000 after acquiring an additional 173 shares during the period. DT Investment Partners LLC bought a new position in shares of Veeva Systems in the 2nd quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Veeva Systems in the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 88.20% of the company's stock.
About Veeva Systems
(
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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.
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