Veeva Systems (NYSE:VEEV) Upgraded at Morgan Stanley

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Morgan Stanley upgraded shares of Veeva Systems (NYSE:VEEV) from an equal weight rating to an overweight rating in a report released on Monday morning, BenzingaRatingsTable reports. The firm currently has $175.00 price target on the technology company’s stock, up from their prior price target of $160.00.

VEEV has been the topic of several other reports. SunTrust Banks set a $180.00 target price on Veeva Systems and gave the stock a buy rating in a report on Friday, September 27th. Needham & Company LLC reissued a buy rating and issued a $187.00 target price on shares of Veeva Systems in a report on Monday, November 25th. Stephens reissued a buy rating and issued a $185.00 target price on shares of Veeva Systems in a report on Wednesday, November 27th. Barclays boosted their target price on Veeva Systems from $165.00 to $176.00 and gave the stock an equal weight rating in a report on Wednesday, November 27th. Finally, ValuEngine downgraded Veeva Systems from a hold rating to a sell rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $174.28.

VEEV stock opened at $144.43 on Monday. Veeva Systems has a 1-year low of $100.59 and a 1-year high of $176.90. The firm has a market cap of $21.61 billion, a P/E ratio of 116.48, a P/E/G ratio of 4.05 and a beta of 1.17. The business’s 50 day moving average is $144.22 and its 200-day moving average is $153.19. The company has a current ratio of 5.40, a quick ratio of 5.40 and a debt-to-equity ratio of 0.01.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, November 26th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.19. Veeva Systems had a return on equity of 17.56% and a net margin of 29.86%. The company had revenue of $280.90 million for the quarter, compared to analyst estimates of $274.81 million. During the same period in the prior year, the company posted $0.41 EPS. The company’s revenue was up 25.0% compared to the same quarter last year. Sell-side analysts forecast that Veeva Systems will post 1.64 EPS for the current year.

In other Veeva Systems news, EVP Alan Mateo sold 890 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $146.79, for a total transaction of $130,643.10. Following the transaction, the executive vice president now owns 18,811 shares of the company’s stock, valued at approximately $2,761,266.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Frederic Lequient sold 1,516 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $140.42, for a total value of $212,876.72. Following the transaction, the senior vice president now directly owns 2,875 shares in the company, valued at approximately $403,707.50. The disclosure for this sale can be found here. Insiders sold a total of 38,752 shares of company stock worth $5,607,902 over the last three months. 14.38% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. AE Wealth Management LLC lifted its holdings in Veeva Systems by 82.5% during the 4th quarter. AE Wealth Management LLC now owns 5,115 shares of the technology company’s stock worth $719,000 after buying an additional 2,313 shares in the last quarter. Moseley Investment Management Inc. raised its position in shares of Veeva Systems by 20.8% during the 4th quarter. Moseley Investment Management Inc. now owns 3,890 shares of the technology company’s stock valued at $547,000 after acquiring an additional 670 shares during the last quarter. New England Research & Management Inc. raised its position in shares of Veeva Systems by 102.8% during the 4th quarter. New England Research & Management Inc. now owns 3,650 shares of the technology company’s stock valued at $513,000 after acquiring an additional 1,850 shares during the last quarter. Chicago Capital LLC raised its position in shares of Veeva Systems by 4.3% during the 4th quarter. Chicago Capital LLC now owns 181,162 shares of the technology company’s stock valued at $25,482,000 after acquiring an additional 7,525 shares during the last quarter. Finally, Paragon Advisors LLC bought a new stake in shares of Veeva Systems during the 4th quarter valued at $556,000. 77.42% of the stock is currently owned by hedge funds and other institutional investors.

Veeva Systems Company Profile

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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