Analysts Set Veeva Systems Inc (VEEV) PT at $67.44

Veeva Systems Inc (NYSE:VEEV) has been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $67.44.

A number of research firms recently issued reports on VEEV. JMP Securities reissued a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Saturday, August 26th. Zacks Investment Research cut Veeva Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Needham & Company LLC reissued a “buy” rating on shares of Veeva Systems in a research note on Thursday, October 12th. Stifel Nicolaus reissued a “buy” rating and set a $67.00 target price on shares of Veeva Systems in a research note on Friday, October 13th. Finally, Canaccord Genuity reissued a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research note on Tuesday, August 22nd.

Veeva Systems (NYSE:VEEV) traded down $2.21 during midday trading on Friday, reaching $57.25. The company had a trading volume of 1,573,806 shares, compared to its average volume of 1,300,762. Veeva Systems has a twelve month low of $40.50 and a twelve month high of $68.07. The company has a market cap of $8,247.10, a PE ratio of 100.78, a price-to-earnings-growth ratio of 4.87 and a beta of 1.60.

In other news, insider Eleni Nitsa Zuppas sold 1,329 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $58.74, for a total value of $78,065.46. Following the completion of the sale, the insider now owns 9,528 shares of the company’s stock, valued at approximately $559,674.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alan Mateo sold 528 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $58.74, for a total value of $31,014.72. Following the completion of the sale, the executive vice president now directly owns 6,985 shares of the company’s stock, valued at approximately $410,298.90. The disclosure for this sale can be found here. Insiders have sold a total of 282,000 shares of company stock valued at $16,363,720 over the last ninety days. Company insiders own 17.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VEEV. BlackRock Inc. boosted its holdings in shares of Veeva Systems by 44.9% in the 2nd quarter. BlackRock Inc. now owns 5,812,749 shares of the technology company’s stock valued at $356,379,000 after buying an additional 1,801,439 shares during the last quarter. FMR LLC boosted its holdings in shares of Veeva Systems by 50.9% in the 2nd quarter. FMR LLC now owns 3,456,402 shares of the technology company’s stock valued at $211,912,000 after buying an additional 1,166,372 shares during the last quarter. State Street Corp boosted its holdings in shares of Veeva Systems by 52.1% in the 2nd quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock valued at $113,851,000 after buying an additional 635,842 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $408,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Veeva Systems by 202.7% in the 3rd quarter. Janus Henderson Group PLC now owns 594,544 shares of the technology company’s stock valued at $33,538,000 after buying an additional 398,149 shares during the last quarter. 72.38% of the stock is owned by institutional investors.

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About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

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