Shares of Veeva Systems Inc. (NYSE:VEEV) have received a consensus rating of “Buy” from the twenty-five research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $289.48.
VEEV has been the subject of a number of research analyst reports. Raymond James raised their target price on Veeva Systems from $285.00 to $335.00 and gave the stock an “outperform” rating in a research note on Monday, October 26th. KeyCorp lifted their price objective on Veeva Systems from $332.00 to $353.00 and gave the company an “overweight” rating in a research note on Wednesday, February 17th. JPMorgan Chase & Co. lowered Veeva Systems from a “neutral” rating to an “underweight” rating and set a $297.00 price objective for the company. in a research note on Wednesday, December 9th. Needham & Company LLC lifted their price objective on Veeva Systems from $310.00 to $327.00 and gave the company a “buy” rating in a research note on Wednesday, December 2nd. Finally, DA Davidson reiterated a “buy” rating on shares of Veeva Systems in a research note on Wednesday, December 2nd.
VEEV stock traded down $2.58 during midday trading on Thursday, reaching $290.53. The stock had a trading volume of 22,102 shares, compared to its average volume of 883,590. The stock has a market cap of $44.01 billion, a PE ratio of 136.97, a P/E/G ratio of 9.41 and a beta of 0.84. The firm has a fifty day simple moving average of $291.61 and a two-hundred day simple moving average of $279.86. Veeva Systems has a 52-week low of $118.11 and a 52-week high of $325.54.
In other Veeva Systems news, SVP Frederic Lequient sold 359 shares of the business’s stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $265.64, for a total value of $95,364.76. Following the sale, the senior vice president now owns 387 shares of the company’s stock, valued at $102,802.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alan Mateo sold 2,666 shares of the business’s stock in a transaction on Friday, February 5th. The stock was sold at an average price of $290.21, for a total transaction of $773,699.86. Following the completion of the transaction, the executive vice president now owns 4,610 shares of the company’s stock, valued at approximately $1,337,868.10. The disclosure for this sale can be found here. Insiders sold a total of 38,901 shares of company stock worth $10,760,730 over the last three months. Corporate insiders own 14.38% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CI Investments Inc. boosted its stake in Veeva Systems by 39.8% in the fourth quarter. CI Investments Inc. now owns 126,430 shares of the technology company’s stock valued at $34,421,000 after acquiring an additional 35,986 shares in the last quarter. Twinbeech Capital LP purchased a new stake in shares of Veeva Systems in the third quarter valued at about $281,000. Security Asset Management purchased a new stake in shares of Veeva Systems in the fourth quarter valued at about $1,655,000. Schmidt P J Investment Management Inc. raised its holdings in Veeva Systems by 41.7% during the fourth quarter. Schmidt P J Investment Management Inc. now owns 3,331 shares of the technology company’s stock worth $921,000 after purchasing an additional 981 shares in the last quarter. Finally, We Are One Seven LLC raised its holdings in Veeva Systems by 5.6% during the fourth quarter. We Are One Seven LLC now owns 948 shares of the technology company’s stock worth $258,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 77.54% of the company’s stock.
About Veeva Systems
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; 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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