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

Veeva Systems (NYSE:VEEV - Free Report) had its target price cut by Truist Financial from $261.00 to $210.00 in a research report report published on Monday morning,Benzinga reports. They currently have a hold rating on the technology company's stock.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus lifted their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a "buy" rating in a report on Friday, December 6th. BNP Paribas assumed coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They issued an "outperform" rating and a $286.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $208.00 to $218.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. Mizuho initiated coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $275.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $255.74.

Veeva Systems Stock Down 2.2 %

Veeva Systems stock traded down $4.69 during trading on Monday, hitting $213.06. The stock had a trading volume of 1,239,026 shares, compared to its average volume of 1,058,018. The stock's 50 day moving average is $222.98 and its two-hundred day moving average is $208.97. Veeva Systems has a 1 year low of $170.25 and a 1 year high of $258.93. The stock has a market cap of $34.59 billion, a price-to-earnings ratio of 52.61, a price-to-earnings-growth ratio of 2.03 and a beta of 0.84.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas D. Schwenger sold 1,126 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Veeva Systems

Several institutional investors have recently added to or reduced their stakes in the company. Clean Yield Group purchased a new stake in Veeva Systems in the 4th quarter worth approximately $3,487,000. CHICAGO TRUST Co NA raised its holdings in shares of Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock valued at $395,000 after acquiring an additional 53 shares in the last quarter. Thomasville National Bank lifted its stake in Veeva Systems by 2.7% in the fourth quarter. Thomasville National Bank now owns 82,961 shares of the technology company's stock worth $17,443,000 after acquiring an additional 2,183 shares during the period. Aprio Wealth Management LLC purchased a new stake in Veeva Systems in the fourth quarter worth $202,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Veeva Systems by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,308 shares of the technology company's stock valued at $3,003,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other 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.