Veeva Systems (NYSE:VEEV) PT raised to $240.00 at Bank of America

Veeva Systems (NYSE:VEEV – Get a Free Report) their price target was raised by investment analysts at Bank of America from $204.00 to $240.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Bank of America’s target price would indicate a potential upside of 20.39% from the stock’s previous close.

Other equities research analysts have recently issued research reports on the stock. Barclays dropped their target price on shares of Veeva Systems from $245.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Robert W. Baird lifted their price target on shares of Veeva Systems from $251.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Evercore ISI cut their price target on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating on the stock in a report on Friday, May 31st. Truist Financial decreased their price target on Veeva Systems from $203.00 to $197.00 and set a “hold” rating for the company in a report on Friday, June 14th. Finally, Guggenheim boosted their price objective on Veeva Systems from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $232.09, based on data from MarketBeat.com.

Check out our latest research report on Veeva Systems

Veeva Systems trading down 0.4%

Shares of VEEV stock opened at $199.35 on Thursday. The stock has a market cap of $32.22 billion, a PE ratio of 58.81, a PEG ratio of 1.95 and a beta of 0.80. Veeva Systems has a 1 year low of $162.72 and a 1 year high of $236.90. The stock has a 50-day simple moving average of $187.82 and a 200-day simple moving average of $202.03.

Veeva Systems (NYSE:VEEV – Get Free Report ) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 12.74% and a net margin of 22.34%. The firm had revenue of $676.18 million for the quarter, compared to analysts’ expectations of $667.21 million. On average, sell-side analysts predict that Veeva Systems will post 4.19 EPS for the current fiscal year.

Insiders place their bets

In related news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction dated 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 owns 9,035 shares in the company, valued at $1,807,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 owns 9,035 shares of the company’s stock, valued at $1,807,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $184.33, for a total transaction of $2,764,950.00. Following the completion of the sale, the chief financial officer now owns 8,391 shares in the company, valued at $1,546,713.03. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s shares.

Institutional investors are stepping into Veeva’s systems

A number of hedge funds have recently modified their holdings of VEEV. Facet Wealth Inc. increased its position in Veeva Systems by 3.2% in the fourth quarter. Facet Wealth Inc. now owns 1,542 shares of the technology company’s stock valued at $323,000 after acquiring an additional 48 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Veeva Systems by 0.4% in 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 period. Western Pacific Wealth Management LP boosted its position in shares of Veeva Systems by 23.3% in the first quarter. Western Pacific Wealth Management LP now owns 307 shares of the technology company’s stock worth $71,000 after buying an additional 58 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Veeva Systems by 3.5% in the fourth quarter. Yousif Capital Management LLC now owns 1,777 shares of the technology company’s stock worth $342,000 after purchasing an additional 60 shares during the last quarter. Finally, OV Management LLC raised its position in Veeva Systems by 1.0% in the 2nd quarter. OV Management LLC now owns 6,659 shares of the technology company’s stock valued at $1,219,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s shares.

About Veeva Systems

(Get a free report)

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), which enables customer-facing employees in pharmaceutical and biotech companies; Veeva Vault PromoMats, an end-to-end digital asset management solution; Veeva Vault Medical which provides medical content source across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a reference data solution for customers; Veeva Link, a data application that allows the link to generate real-time information; and Veeva Compass includes de-identified and longitudinal patient data for the United States.

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