Veeva Systems (NYSE:VEEV) Price Target Raised to $165.00

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.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Tuesday, August 27th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. Veeva Systems had a return on equity of 18.87% and a net margin of 29.72%. The firm had revenue of $266.90 million during the quarter, compared to analysts’ expectations of $259.35 million. During the same period in the previous year, the firm posted $0.39 earnings per share. Veeva Systems’s revenue was up 27.3% on a year-over-year basis. As a group, equities research analysts predict that Veeva Systems will post 1.6 earnings per share for the current year.

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.

Read More: Margin

Analyst Recommendations for Veeva Systems (NYSE:VEEV)

Receive News & Ratings for Veeva Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit