Veeva Systems Inc. (NYSE:VEEV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Veeva Systems Inc. (NYSE:VEEV) has been given a consensus rating of “Moderate Buy” by the twenty brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $234.90.

Several equities analysts have commented on the company. Robert W. Baird raised their price objective on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Raymond James reissued an “outperform” rating and set a $260.00 price objective on shares of Veeva Systems in a research note on Tuesday, March 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a research note on Wednesday, March 27th. Stifel Nicolaus boosted their price target on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Tuesday, April 2nd.

Insider Activity at Veeva Systems

In other news, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the transaction, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total transaction of $746,297.16. Following the completion of the sale, the senior vice president now directly owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy S. Cabral sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now owns 23,391 shares in the company, valued at $5,287,301.64. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock worth $4,818,013 over the last quarter. Company insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in Veeva Systems during the 3rd quarter worth approximately $25,000. Operose Advisors LLC bought a new position in shares of Veeva Systems in the third quarter worth approximately $29,000. DSM Capital Partners LLC purchased a new stake in shares of Veeva Systems in the fourth quarter worth $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Veeva Systems during the 4th quarter valued at $32,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Veeva Systems by 81.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after buying an additional 77 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Up 1.1 %

Shares of NYSE VEEV opened at $205.31 on Wednesday. The firm has a fifty day simple moving average of $216.61 and a two-hundred day simple moving average of $202.11. Veeva Systems has a 12 month low of $160.21 and a 12 month high of $236.90. The firm has a market capitalization of $33.12 billion, a PE ratio of 63.76, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results 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 net margin of 22.24% and a return on equity of 11.26%. The company had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. On average, sell-side analysts predict that Veeva Systems will post 4.11 earnings per share for the current year.

Veeva Systems Company Profile

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.