Shares of Veeva Systems Inc. (NYSE:VEEV) have been given an average rating of “Hold” by the sixteen ratings firms that are currently covering the firm. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $41.45.

Several brokerages have recently issued reports on VEEV. Canaccord Genuity restated a “buy” rating and issued a $46.00 target price (up previously from $43.00) on shares of Veeva Systems in a report on Tuesday, October 4th. Stifel Nicolaus raised their target price on shares of Veeva Systems from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 31st. Pacific Crest set a $42.00 target price on shares of Veeva Systems and gave the stock a “buy” rating in a report on Wednesday, August 31st. KeyCorp raised their target price on shares of Veeva Systems from $35.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, August 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $46.00 target price (up previously from $43.00) on shares of Veeva Systems in a report on Friday, September 30th.

In related news, President Matthew J. Wallach sold 84,000 shares of Veeva Systems stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $38.61, for a total value of $3,243,240.00. Following the completion of the sale, the president now directly owns 23,711 shares in the company, valued at approximately $915,481.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alan Mateo sold 44,177 shares of Veeva Systems stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $40.55, for a total value of $1,791,377.35. Following the completion of the sale, the executive vice president now owns 5,805 shares of the company’s stock, valued at $235,392.75. The disclosure for this sale can be found here. 19.17% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new stake in Veeva Systems during the second quarter valued at approximately $75,081,000. Vanguard Group Inc. increased its stake in Veeva Systems by 26.0% in the second quarter. Vanguard Group Inc. now owns 6,180,083 shares of the company’s stock valued at $210,865,000 after buying an additional 1,276,212 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Veeva Systems by 124.4% in the second quarter. Lord Abbett & CO. LLC now owns 2,274,863 shares of the company’s stock valued at $77,618,000 after buying an additional 1,261,115 shares during the last quarter. 1832 Asset Management L.P. increased its stake in Veeva Systems by 724.3% in the second quarter. 1832 Asset Management L.P. now owns 1,266,900 shares of the company’s stock valued at $42,615,000 after buying an additional 1,113,200 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in Veeva Systems during the second quarter valued at approximately $36,338,000. Institutional investors own 67.53% of the company’s stock.

Shares of Veeva Systems (NYSE:VEEV) opened at 41.55 on Tuesday. The firm’s 50-day moving average is $39.17 and its 200-day moving average is $36.20. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 112.30 and a beta of 1.60. Veeva Systems has a 52 week low of $19.97 and a 52 week high of $42.58.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Tuesday, August 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Veeva Systems had a net margin of 11.33% and a return on equity of 11.26%. The firm had revenue of $131.30 million for the quarter, compared to analysts’ expectations of $126.61 million. During the same quarter last year, the business earned $0.13 earnings per share. The business’s revenue was up 33.8% on a year-over-year basis. Equities research analysts predict that Veeva Systems will post $0.63 earnings per share for the current year.

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.

5 Day Chart for NYSE:VEEV

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