Several other equities analysts also recently weighed in on the stock. Evercore ISI reaffirmed a hold rating and set a $170.00 price target on shares of Veeva Systems in a report on Thursday, November 28th. Guggenheim lifted their price target on shares of Veeva Systems from $154.00 to $180.00 and gave the company a buy rating in a report on Wednesday, August 28th. JMP Securities lifted their price target on shares of Veeva Systems from $153.00 to $172.00 and gave the company a market outperform rating in a report on Wednesday, August 28th. DA Davidson lifted their price target on shares of Veeva Systems from $165.00 to $200.00 and gave the company a buy rating in a report on Wednesday, August 28th. Finally, Barclays lifted their price target on shares of Veeva Systems from $165.00 to $176.00 and gave the company an equal weight rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $172.61.
Shares of NYSE:VEEV opened at $146.10 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.40 and a quick ratio of 5.40. Veeva Systems has a 1-year low of $79.26 and a 1-year high of $176.90. The company has a market capitalization of $21.05 billion, a P/E ratio of 91.77, a P/E/G ratio of 3.96 and a beta of 1.24. The firm’s 50 day simple moving average is $147.51 and its two-hundred day simple moving average is $155.82.
In other news, CMO Eleni Nitsa Zuppas sold 5,000 shares of Veeva Systems stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $144.99, for a total transaction of $724,950.00. Following the sale, the chief marketing officer now owns 15,090 shares in the company, valued at $2,187,899.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alan Mateo sold 496 shares of Veeva Systems stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $146.15, for a total transaction of $72,490.40. Following the sale, the executive vice president now owns 16,566 shares in the company, valued at approximately $2,421,120.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,670 shares of company stock worth $6,275,963. Company insiders own 14.38% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in VEEV. Endurance Wealth Management Inc. bought a new stake in shares of Veeva Systems during the third quarter valued at approximately $27,000. Venturi Wealth Management LLC bought a new stake in Veeva Systems in the third quarter worth $35,000. Virtus ETF Advisers LLC bought a new stake in Veeva Systems in the second quarter worth $41,000. Tower Research Capital LLC TRC bought a new stake in Veeva Systems in the third quarter worth $43,000. Finally, Commonwealth Bank of Australia increased its position in Veeva Systems by 71.2% in the second quarter. Commonwealth Bank of Australia now owns 291 shares of the technology company’s stock worth $45,000 after purchasing an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 77.75% of the company’s stock.
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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