Veeva Systems (NYSE:VEEV) Earns Sector Perform Rating from Analysts at Scotiabank

Scotiabank assumed coverage on shares of Veeva Systems (NYSE:VEEV) in a research report report published on Monday morning,Benzinga reports. The firm issued a sector perform rating and a $235.00 price objective on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. Truist Financial upped their price objective on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Royal Bank of Canada upped their price objective on shares of Veeva Systems from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Guggenheim lifted their target price on shares of Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Veeva Systems in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.92.

Veeva Systems Trading Up 0.1 %

Shares of VEEV opened at $213.68 on Monday. Veeva Systems has a 12-month low of $165.12 and a 12-month high of $240.68. The company has a market cap of $34.60 billion, a PE ratio of 56.98, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. The stock has a 50-day moving average price of $215.19 and a 200-day moving average price of $200.89.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 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 net margin of 23.91% and a return on equity of 13.30%. As a group, analysts predict that Veeva Systems will post 4.21 earnings per share for the current year.

Insider Transactions at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares in the company, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. The trade was a 20.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of VEEV. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Veeva Systems during the third quarter valued at approximately $26,000. Advisors Asset Management Inc. purchased a new stake in shares of Veeva Systems in the 1st quarter worth approximately $28,000. True Wealth Design LLC increased its position in Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. Blue Trust Inc. raised its stake in Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after buying an additional 173 shares during the last quarter. Finally, DT Investment Partners LLC bought a new stake in Veeva Systems in the second quarter worth $35,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

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.