Veeva Systems Inc. (NYSE:VEEV) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-five brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $256.52.

A number of research analysts have recently commented on VEEV shares. StockNews.com upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Morgan Stanley raised their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a research report on Thursday, March 6th. Bank of America increased their price target 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. Robert W. Baird boosted their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Finally, KeyCorp cut their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th.

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Institutional Trading of Veeva Systems

Several large investors have recently modified their holdings of VEEV. Toronto Dominion Bank grew its stake in shares of Veeva Systems by 39.1% during the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company's stock valued at $4,235,000 after purchasing an additional 5,673 shares during the period. Principal Financial Group Inc. grew its position in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after buying an additional 1,267,061 shares during the period. Smith Group Asset Management LLC increased its holdings in Veeva Systems by 2.2% during the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock valued at $17,360,000 after buying an additional 1,749 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in Veeva Systems during the fourth quarter valued at approximately $816,000. Finally, Venturi Wealth Management LLC raised its position in Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock worth $36,000 after acquiring an additional 163 shares during the period. Institutional investors own 88.20% of the company's stock.

Veeva Systems Price Performance

NYSE:VEEV traded down $2.56 during trading hours on Friday, hitting $231.65. The company had a trading volume of 1,269,120 shares, compared to its average volume of 1,038,842. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a market capitalization of $37.61 billion, a PE ratio of 57.20, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The stock has a 50-day moving average price of $231.62 and a 200 day moving average price of $222.87.

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.