Veeva Systems (NYSE:VEEV) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Veeva Systems (NYSE:VEEV) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

VEEV has been the topic of a number of other reports. JPMorgan Chase & Co. upped their target price on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Piper Sandler lifted their target price on Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday. Raymond James lifted their price objective on shares of Veeva Systems from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a report on Friday. Finally, UBS Group upped their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $237.00.

Veeva Systems Price Performance

NYSE:VEEV traded up $11.61 during trading hours on Friday, reaching $235.00. 2,472,493 shares of the company were exchanged, compared to its average volume of 752,313. The firm has a market cap of $38.05 billion, a price-to-earnings ratio of 62.67, a PEG ratio of 2.29 and a beta of 0.81. The stock has a 50 day simple moving average of $213.98 and a 200 day simple moving average of $199.75. Veeva Systems has a 52-week low of $162.72 and a 52-week high of $240.68.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. On average, analysts predict that Veeva Systems will post 4.21 EPS for the current fiscal year.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is currently owned by company insiders.

Institutional Trading of Veeva Systems

A number of institutional investors and hedge funds have recently modified their holdings of VEEV. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Veeva Systems by 0.7% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company’s stock worth $1,453,000 after acquiring an additional 48 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Veeva Systems by 1.2% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company’s stock valued at $904,000 after buying an additional 50 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Veeva Systems by 0.4% during the second quarter. Clearbridge Investments LLC now owns 11,682 shares of the technology company’s stock worth $2,138,000 after buying an additional 52 shares during the last quarter. Western Pacific Wealth Management LP grew its position in shares of Veeva Systems by 23.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock valued at $71,000 after acquiring an additional 58 shares during the period. Finally, Park Place Capital Corp increased its stake in shares of Veeva Systems by 11.5% during the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock worth $120,000 after purchasing an additional 59 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

About Veeva Systems

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.