Veeva Systems Inc (NYSE:VEEV) has received a consensus recommendation of “Buy” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $67.51.
VEEV has been the topic of a number of recent research reports. Morgan Stanley upgraded Veeva Systems from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 30th. Zacks Investment Research cut Veeva Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Vetr cut Veeva Systems from a “buy” rating to a “hold” rating and set a $61.05 target price on the stock. in a research note on Thursday. DA Davidson initiated coverage on Veeva Systems in a research note on Friday, February 2nd. They issued a “buy” rating and a $75.00 target price on the stock. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $70.00 target price on shares of Veeva Systems in a research note on Wednesday, December 6th.
Veeva Systems (NYSE VEEV) traded up $0.82 during mid-day trading on Wednesday, reaching $59.76. The company’s stock had a trading volume of 1,180,800 shares, compared to its average volume of 1,036,249. The company has a market capitalization of $8,446.66, a PE ratio of 69.49, a price-to-earnings-growth ratio of 6.17 and a beta of 1.66. Veeva Systems has a 12 month low of $41.30 and a 12 month high of $68.07.
In related news, President Matthew J. Wallach sold 24,000 shares of Veeva Systems stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $57.36, for a total transaction of $1,376,640.00. Following the transaction, the president now directly owns 24,000 shares of the company’s stock, valued at $1,376,640. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Alan Mateo sold 532 shares of Veeva Systems stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $58.11, for a total value of $30,914.52. Following the transaction, the executive vice president now directly owns 8,294 shares in the company, valued at $481,964.34. The disclosure for this sale can be found here. Insiders have sold 166,417 shares of company stock worth $9,502,103 over the last three months. Corporate insiders own 17.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its holdings in Veeva Systems by 6.1% during the third quarter. First Trust Advisors LP now owns 2,212,827 shares of the technology company’s stock worth $124,826,000 after acquiring an additional 126,869 shares during the period. State Street Corp grew its holdings in Veeva Systems by 52.1% during the second quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock worth $113,851,000 after acquiring an additional 635,842 shares during the period. New York State Common Retirement Fund grew its holdings in Veeva Systems by 2.2% during the third quarter. New York State Common Retirement Fund now owns 1,619,820 shares of the technology company’s stock worth $91,374,000 after acquiring an additional 35,073 shares during the period. Fred Alger Management Inc. grew its holdings in Veeva Systems by 9.1% during the fourth quarter. Fred Alger Management Inc. now owns 1,024,930 shares of the technology company’s stock worth $56,658,000 after acquiring an additional 85,781 shares during the period. Finally, OppenheimerFunds Inc. grew its holdings in Veeva Systems by 1.7% during the fourth quarter. OppenheimerFunds Inc. now owns 708,052 shares of the technology company’s stock worth $39,141,000 after acquiring an additional 11,851 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.
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Veeva Systems Company Profile
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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