JPMorgan Chase & Co. lowered shares of Veeva Systems (NYSE:VEEV) from an overweight rating to a neutral rating in a research note released on Friday morning, Marketbeat Ratings reports.
Other analysts have also issued reports about the stock. Vetr upgraded shares of Veeva Systems from a buy rating to a strong-buy rating and set a $61.05 price target for the company in a research note on Thursday, February 8th. Canaccord Genuity reiterated a buy rating and issued a $70.00 price target on shares of Veeva Systems in a research note on Wednesday, December 6th. DA Davidson assumed coverage on shares of Veeva Systems in a research note on Friday, February 2nd. They issued a buy rating and a $75.00 price target for the company. Zacks Investment Research lowered shares of Veeva Systems from a hold rating to a sell rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus lifted their price target on shares of Veeva Systems from $67.00 to $70.00 and gave the stock a buy rating in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $71.47.
Shares of Veeva Systems (VEEV) opened at $77.64 on Friday. Veeva Systems has a 12 month low of $44.51 and a 12 month high of $78.28. The company has a market cap of $10,970.00, a P/E ratio of 84.39, a PEG ratio of 4.64 and a beta of 1.46.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerebellum GP LLC bought a new stake in Veeva Systems during the fourth quarter valued at approximately $129,000. American International Group Inc. bought a new stake in Veeva Systems during the fourth quarter valued at approximately $142,000. Northwestern Mutual Wealth Management Co. grew its position in Veeva Systems by 154.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,176 shares of the technology company’s stock valued at $176,000 after buying an additional 1,927 shares during the period. Van Hulzen Asset Management LLC purchased a new position in Veeva Systems during the third quarter valued at approximately $204,000. Finally, HL Financial Services LLC purchased a new position in Veeva Systems during the fourth quarter valued at approximately $210,000. Institutional investors own 73.13% of the company’s stock.
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Veeva Systems Company Profile
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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