Veeva Systems Inc (NYSE:VEEV) Receives $169.63 Average Target Price from Analysts

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Shares of Veeva Systems Inc (NYSE:VEEV) have received a consensus rating of “Buy” from the nineteen brokerages that are currently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $169.63.

VEEV has been the subject of several research analyst reports. Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $155.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Needham & Company LLC boosted their price objective on shares of Veeva Systems from $150.00 to $187.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Deutsche Bank boosted their price objective on shares of Veeva Systems from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. boosted their price objective on shares of Veeva Systems from $150.00 to $183.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Finally, ValuEngine downgraded shares of Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st.

Shares of VEEV opened at $146.15 on Thursday. Veeva Systems has a one year low of $79.26 and a one year high of $176.90. The company has a market cap of $20.69 billion, a P/E ratio of 117.86, a P/E/G ratio of 4.53 and a beta of 1.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.23 and a quick ratio of 4.23. The firm has a 50 day simple moving average of $158.42 and a two-hundred day simple moving average of $148.21.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Tuesday, August 27th. The technology company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. Veeva Systems had a net margin of 29.72% and a return on equity of 18.10%. The business had revenue of $266.90 million during the quarter, compared to the consensus estimate of $259.35 million. During the same period in the previous year, the business earned $0.39 earnings per share. The company’s revenue was up 27.3% on a year-over-year basis. On average, analysts expect that Veeva Systems will post 1.62 earnings per share for the current fiscal year.

In other news, Director Paul J. Sekhri sold 601 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $169.38, for a total transaction of $101,797.38. Following the completion of the transaction, the director now directly owns 16,494 shares in the company, valued at $2,793,753.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alan Mateo sold 4,026 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $165.40, for a total transaction of $665,900.40. Following the transaction, the executive vice president now owns 22,896 shares of the company’s stock, valued at $3,786,998.40. The disclosure for this sale can be found here. Insiders have sold 70,064 shares of company stock valued at $11,305,547 over the last quarter. Company insiders own 14.38% of the company’s stock.

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Veeva Systems by 1.3% in the second quarter. Vanguard Group Inc. now owns 12,120,296 shares of the technology company’s stock valued at $1,964,821,000 after purchasing an additional 156,746 shares during the period. BlackRock Inc. increased its holdings in Veeva Systems by 16.3% in the second quarter. BlackRock Inc. now owns 8,770,784 shares of the technology company’s stock valued at $1,421,833,000 after purchasing an additional 1,231,904 shares during the period. FMR LLC increased its holdings in Veeva Systems by 5.8% in the first quarter. FMR LLC now owns 6,269,463 shares of the technology company’s stock valued at $795,344,000 after purchasing an additional 342,948 shares during the period. JPMorgan Chase & Co. increased its holdings in Veeva Systems by 15.2% in the second quarter. JPMorgan Chase & Co. now owns 3,704,172 shares of the technology company’s stock valued at $594,557,000 after purchasing an additional 488,681 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Veeva Systems by 41.0% in the second quarter. AQR Capital Management LLC now owns 1,958,283 shares of the technology company’s stock valued at $311,054,000 after purchasing an additional 569,097 shares during the period. Institutional investors own 77.05% of the company’s stock.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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