Veeva Systems Inc. (NYSE:VEEV) had its price objective boosted by Deutsche Bank AG from $36.00 to $44.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “hold” rating on the stock. Deutsche Bank AG’s price objective points to a potential downside of 4.95% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity boosted their price objective on shares of Veeva Systems from $35.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 31st. Needham & Company LLC boosted their price objective on shares of Veeva Systems from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 31st. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Friday, September 2nd. Pacific Crest set a $42.00 price objective on shares of Veeva Systems and gave the company a “buy” rating in a research report on Wednesday, August 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 31st. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $43.31.

Analyst Recommendations for Veeva Systems (NYSE:VEEV)

Shares of Veeva Systems (NYSE:VEEV) traded up 11.38% during midday trading on Wednesday, hitting $46.29. 5,045,272 shares of the company traded hands. The company has a 50-day moving average price of $39.12 and a 200-day moving average price of $37.03. Veeva Systems has a 52 week low of $19.97 and a 52 week high of $46.70. The stock has a market capitalization of $6.30 billion, a P/E ratio of 125.11 and a beta of 1.60.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Tuesday, November 22nd. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $142.80 million for the quarter, compared to the consensus estimate of $135.67 million. Veeva Systems had a net margin of 11.33% and a return on equity of 11.26%. The firm’s revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. Analysts anticipate that Veeva Systems will post $0.63 earnings per share for the current fiscal year.

In other news, insider Eleni Nitsa Zuppas sold 937 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $40.50, for a total value of $37,948.50. Following the sale, the insider now owns 8,321 shares in the company, valued at $337,000.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Matthew J. Wallach sold 84,000 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $41.47, for a total transaction of $3,483,480.00. Following the completion of the sale, the president now owns 42,000 shares in the company, valued at approximately $1,741,740. The disclosure for this sale can be found here. Corporate insiders own 19.17% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Riverbridge Partners LLC raised its stake in Veeva Systems by 1.4% in the second quarter. Riverbridge Partners LLC now owns 1,981,733 shares of the company’s stock worth $67,617,000 after buying an additional 26,740 shares during the last quarter. California State Teachers Retirement System raised its stake in Veeva Systems by 34.6% in the second quarter. California State Teachers Retirement System now owns 203,119 shares of the company’s stock worth $6,930,000 after buying an additional 52,189 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Veeva Systems by 40.9% in the second quarter. Bank of New York Mellon Corp now owns 513,069 shares of the company’s stock worth $17,506,000 after buying an additional 148,937 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in Veeva Systems during the second quarter worth $5,249,000. Finally, Public Employees Retirement Association of Colorado raised its stake in Veeva Systems by 4.0% in the second quarter. Public Employees Retirement Association of Colorado now owns 20,681 shares of the company’s stock worth $706,000 after buying an additional 803 shares during the last quarter. Hedge funds and other institutional investors own 71.12% of the company’s stock.

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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.

5 Day Chart for NYSE:VEEV

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