Veeva Systems (NYSE:VEEV) Upgraded at StockNews.com

StockNews.com upgraded shares of Veeva Systems (NYSE:VEEV) from a hold rating to a buy rating in a research note released on Friday morning.

A number of other research firms have also recently weighed in on VEEV. The Goldman Sachs Group increased their price target on Veeva Systems from $219.00 to $248.00 and gave the company a buy rating in a research note on Friday, March 1st. Robert W. Baird increased their price objective on Veeva Systems from $245.00 to $251.00 and gave the stock an outperform rating in a research report on Friday, March 1st. Stifel Nicolaus increased their target price on Veeva Systems from $205.00 to $250.00 and gave the stock a buy rating in a report on Friday, March 1st. Truist Financial increased their target price on Veeva Systems from $187.00 to $203.00 and gave the stock a hold rating in a report on Friday, March 1st. Finally, Needham & Company LLC reissued a buy rating and set a $260.00 target price on shares of Veeva Systems in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $234.90.

Veeva Systems Stock Down 2.1 %

NYSE:VEEV opened at $206.74 on Friday. Veeva Systems has a twelve month low of $160.21 and a twelve month high of $236.90. The company has a market cap of $33.35 billion, a P/E ratio of 64.20, a price-to-earnings-growth ratio of 2.09 and a beta of 0.74. The business has a 50 day moving average price of $222.40 and a two-hundred day moving average price of $202.90.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. The company had revenue of $630.62 million for the quarter, compared to analysts’ expectations of $620.75 million. As a group, analysts anticipate that Veeva Systems will post 4.11 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of Veeva Systems stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the sale, the chief operating officer now directly owns 24,342 shares in the company, valued at $5,112,306.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $210.02, for a total value of $260,004.76. Following the completion of the sale, the chief operating officer now owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Insiders sold 17,148 shares of company stock worth $3,836,900 over the last ninety days. 10.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Veeva Systems

A number of hedge funds have recently added to or reduced their stakes in the company. Facet Wealth Inc. boosted its position in shares of Veeva Systems by 3.2% during the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock valued at $323,000 after buying an additional 48 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Veeva Systems by 2.5% during the third quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock valued at $428,000 after buying an additional 51 shares during the last quarter. NewEdge Wealth LLC boosted its position in shares of Veeva Systems by 0.6% during the third quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company’s stock valued at $2,047,000 after buying an additional 60 shares during the last quarter. Yousif Capital Management LLC boosted its position in shares of Veeva Systems by 3.5% during the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock valued at $342,000 after buying an additional 60 shares during the last quarter. Finally, Personal CFO Solutions LLC boosted its position in shares of Veeva Systems by 5.9% during the third quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock valued at $222,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

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.