Veeva Systems (NYSE:VEEV) had its target price raised by Barclays from $151.00 to $165.00 in a report released on Wednesday, BenzingaRatingsTable reports. They currently have an equal weight rating on the technology company’s stock.
VEEV has been the subject of a number of other reports. Goldman Sachs Group began coverage on Veeva Systems in a report on Friday, June 7th. They issued a neutral rating and a $151.00 price target for the company. KeyCorp boosted their price target on Veeva Systems from $172.00 to $190.00 and gave the stock an overweight rating in a report on Wednesday. Morgan Stanley cut Veeva Systems from an overweight rating to an equal weight rating and boosted their price target for the stock from $126.00 to $144.00 in a report on Friday, May 24th. Stifel Nicolaus boosted their price target on Veeva Systems from $155.00 to $175.00 and gave the stock a buy rating in a report on Friday, August 23rd. Finally, Deutsche Bank boosted their price target on Veeva Systems from $115.00 to $135.00 and gave the stock a hold rating in a report on Thursday, May 30th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $167.06.
Shares of VEEV stock opened at $160.38 on Wednesday. The stock has a fifty day moving average price of $164.56 and a 200 day moving average price of $145.62. The stock has a market cap of $24.06 billion, a PE ratio of 129.34, a P/E/G ratio of 8.25 and a beta of 1.39. Veeva Systems has a 1 year low of $79.26 and a 1 year high of $176.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.73 and a current ratio of 3.73.
In other news, SVP Frederic Lequient sold 1,000 shares of Veeva Systems stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $165.52, for a total value of $165,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Eleni Nitsa Zuppas sold 235 shares of Veeva Systems stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $163.47, for a total value of $38,415.45. Following the completion of the sale, the chief marketing officer now directly owns 12,733 shares of the company’s stock, valued at approximately $2,081,463.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,839 shares of company stock valued at $12,607,413. Company insiders own 14.38% of the company’s stock.
Several large investors have recently made changes to their positions in VEEV. First Command Financial Services Inc. purchased a new stake in Veeva Systems during the second quarter valued at about $32,000. Hanson McClain Inc. grew its position in Veeva Systems by 67.2% during the first quarter. Hanson McClain Inc. now owns 224 shares of the technology company’s stock valued at $28,000 after acquiring an additional 90 shares during the period. Virtus ETF Advisers LLC purchased a new stake in Veeva Systems during the second quarter valued at about $41,000. Machina Capital S.A.S. purchased a new stake in Veeva Systems during the second quarter valued at about $45,000. Finally, Commonwealth Bank of Australia grew its position in Veeva Systems by 71.2% during the second quarter. Commonwealth Bank of Australia now owns 291 shares of the technology company’s stock valued at $45,000 after acquiring an additional 121 shares during the period. 75.99% of the stock is owned by institutional investors and hedge funds.
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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