Analysts Set Veeva Systems Inc (NYSE:VEEV) Target Price at $151.53

Shares of Veeva Systems Inc (NYSE:VEEV) have received an average recommendation of “Buy” from the eighteen ratings firms that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $151.53.

Several brokerages have recently issued reports on VEEV. SunTrust Banks boosted their price objective on Veeva Systems to $150.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Barclays boosted their price objective on Veeva Systems from $144.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Bank of America boosted their price objective on Veeva Systems from $160.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Goldman Sachs Group began coverage on Veeva Systems in a research report on Friday, June 7th. They set a “neutral” rating and a $151.00 price objective for the company. Finally, Morgan Stanley downgraded Veeva Systems from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $126.00 to $144.00 in a research report on Friday, May 24th.

In other Veeva Systems news, SVP Jonathan Faddis sold 450 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $150.33, for a total value of $67,648.50. Following the transaction, the senior vice president now owns 2,323 shares of the company’s stock, valued at $349,216.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eleni Nitsa Zuppas sold 3,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $161.08, for a total value of $483,240.00. Following the completion of the transaction, the insider now directly owns 13,498 shares in the company, valued at approximately $2,174,257.84. The disclosure for this sale can be found here. Insiders sold 78,839 shares of company stock valued at $12,607,413 over the last 90 days. 14.38% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of VEEV. Lyell Wealth Management LP raised its stake in Veeva Systems by 4.1% during the 1st quarter. Lyell Wealth Management LP now owns 44,550 shares of the technology company’s stock valued at $5,652,000 after purchasing an additional 1,753 shares during the period. First Command Financial Services Inc. acquired a new stake in Veeva Systems during the 2nd quarter valued at $32,000. State Board of Administration of Florida Retirement System raised its stake in Veeva Systems by 4.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 167,914 shares of the technology company’s stock valued at $21,302,000 after purchasing an additional 6,509 shares during the period. Victory Capital Management Inc. raised its stake in Veeva Systems by 82.1% during the 1st quarter. Victory Capital Management Inc. now owns 605,422 shares of the technology company’s stock valued at $76,804,000 after purchasing an additional 272,909 shares during the period. Finally, Davy Asset Management Ltd acquired a new stake in Veeva Systems during the 2nd quarter valued at $263,000. 75.99% of the stock is currently owned by institutional investors.

Shares of NYSE VEEV traded up $3.47 during midday trading on Friday, hitting $161.14. 424,706 shares of the company’s stock were exchanged, compared to its average volume of 1,311,866. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.73 and a quick ratio of 3.73. The stock’s 50 day moving average price is $166.30 and its 200-day moving average price is $143.28. The firm has a market cap of $23.61 billion, a P/E ratio of 129.95, a PEG ratio of 8.09 and a beta of 1.39. Veeva Systems has a twelve month low of $79.26 and a twelve month high of $176.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.08). The business had revenue of $244.75 million for the quarter, compared to analyst estimates of $238.69 million. Veeva Systems had a return on equity of 17.61% and a net margin of 28.41%. The business’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. On average, analysts expect that Veeva Systems will post 1.6 EPS for the current fiscal year.

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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Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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