Veeva Systems (NYSE:VEEV) Now Covered by Stephens

Stephens began coverage on shares of Veeva Systems (NYSE:VEEV - Free Report) in a research note published on Friday morning, Marketbeat reports. The brokerage issued an overweight rating and a $280.00 price objective on the technology company's stock.

VEEV has been the topic of several other reports. Truist Financial reaffirmed a "hold" rating and issued a $261.00 price objective (up from $207.00) on shares of Veeva Systems in a research report on Friday, December 6th. Morgan Stanley boosted their price target on shares of Veeva Systems from $183.00 to $195.00 and gave the stock an "underweight" rating in a report on Tuesday. BNP Paribas started coverage on shares of Veeva Systems in a report on Tuesday, October 8th. They set an "outperform" rating and a $286.00 target price on the stock. Citigroup upped their price objective 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. Finally, Piper Sandler upped their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $257.44.

Veeva Systems Stock Performance

Shares of VEEV stock traded up $6.01 during mid-day trading on Friday, hitting $225.68. 583,773 shares of the stock traded hands, compared to its average volume of 988,468. Veeva Systems has a twelve month low of $170.25 and a twelve month high of $258.93. The firm has a market cap of $36.64 billion, a price-to-earnings ratio of 55.72, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. The company's 50-day simple moving average is $222.73 and its 200-day simple moving average is $204.84.

Insider Activity at Veeva Systems

In other news, SVP Jonathan Faddis sold 1,694 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was 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 directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 27,013 shares of the company's stock, valued at approximately $6,483,390.13. The trade was 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 owned by company insiders.

Institutional Trading of Veeva Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Veeva Systems by 0.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company's stock worth $1,453,000 after buying an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Veeva Systems by 1.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company's stock worth $904,000 after buying an additional 50 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Veeva Systems by 0.4% in the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company's stock valued at $2,138,000 after purchasing an additional 52 shares during the period. Park Place Capital Corp raised its stake in Veeva Systems by 11.5% in the third quarter. Park Place Capital Corp now owns 574 shares of the technology company's stock valued at $120,000 after buying an additional 59 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. raised its stake in shares of Veeva Systems by 13.4% during the third quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company's stock worth $108,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 88.20% of the company's stock.

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.