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

Shares of Veeva Systems Inc. (NYSE:VEEV) have received an average recommendation of “Moderate Buy” from the twenty-five brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $256.52.

Several brokerages have recently commented on VEEV. Morgan Stanley boosted their target price on shares of Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research report on Thursday, March 6th. Robert W. Baird boosted their price objective on shares of Veeva Systems from $283.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Mizuho assumed coverage on Veeva Systems in a report on Wednesday, December 4th. They set an “outperform” rating and a $275.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th.

Institutional Trading of Veeva Systems

Institutional investors have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. lifted its holdings in Veeva Systems by 3.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company’s stock worth $1,086,930,000 after buying an additional 177,201 shares during the period. State Street Corp lifted its stake in shares of Veeva Systems by 1.5% in the third quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after acquiring an additional 47,872 shares during the period. Leigh Baldwin & CO. LLC acquired a new position in shares of Veeva Systems in the fourth quarter worth approximately $685,355,000. FMR LLC boosted its holdings in Veeva Systems by 7.8% in the fourth quarter. FMR LLC now owns 3,213,360 shares of the technology company’s stock valued at $675,609,000 after acquiring an additional 232,116 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Veeva Systems by 17.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,005,633 shares of the technology company’s stock valued at $631,935,000 after purchasing an additional 447,041 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 1.4 %

VEEV stock opened at $234.10 on Friday. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93. The business has a 50-day simple moving average of $231.62 and a 200 day simple moving average of $222.87. The company has a market cap of $38.01 billion, a PE ratio of 57.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

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.