Veeva Systems (NYSE:VEEV - Get Free Report) had its price objective raised by research analysts at JPMorgan Chase & Co. from $208.00 to $218.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s price target points to a potential downside of 2.98% from the stock's current price.
Several other analysts have also recently weighed in on VEEV. Barclays lifted their price target on Veeva Systems from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Truist Financial reissued a "hold" rating and issued a $261.00 target price (up previously from $207.00) on shares of Veeva Systems in a research report on Friday, December 6th. Scotiabank upped their price target on shares of Veeva Systems from $235.00 to $240.00 and gave the company a "sector perform" rating in a research note on Friday, December 6th. TD Cowen lifted their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a "hold" rating in a research note on Thursday, August 29th. Finally, Robert W. Baird increased their target price on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of "Moderate Buy" and a consensus target price of $255.73.
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Veeva Systems Price Performance
Veeva Systems stock traded down $4.09 during trading hours on Monday, hitting $224.69. The company had a trading volume of 2,123,858 shares, compared to its average volume of 987,874. The firm has a 50-day moving average of $221.36 and a 200 day moving average of $204.03. The firm has a market cap of $36.48 billion, a PE ratio of 56.20, a PEG ratio of 2.03 and a beta of 0.82. Veeva Systems has a one year low of $170.25 and a one year high of $258.93.
Insider Transactions at Veeva Systems
In other news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems 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 sale, the senior vice president now directly owns 8,061 shares of the company's stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas D. Schwenger sold 1,126 shares of the business's stock in a transaction dated 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 owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade 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.
Institutional Investors Weigh In On Veeva Systems
Several hedge funds have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas bought a new stake in shares of Veeva Systems in the 3rd quarter valued at about $11,770,000. Peapack Gladstone Financial Corp lifted its stake in shares of Veeva Systems by 5.6% in the third quarter. Peapack Gladstone Financial Corp now owns 70,147 shares of the technology company's stock worth $14,721,000 after acquiring an additional 3,741 shares during the period. Tidal Investments LLC boosted its holdings in Veeva Systems by 77.1% in the third quarter. Tidal Investments LLC now owns 22,330 shares of the technology company's stock valued at $4,686,000 after acquiring an additional 9,724 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Veeva Systems during the 3rd quarter valued at approximately $168,000. Finally, World Investment Advisors LLC bought a new position in Veeva Systems during the 3rd quarter worth approximately $2,131,000. 88.20% of the stock is currently owned by institutional investors and hedge funds.
Veeva Systems Company Profile
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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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