Canaccord Genuity reaffirmed their buy rating on shares of Veeva Systems (NYSE:VEEV) in a research report sent to investors on Wednesday morning. Canaccord Genuity currently has a $70.00 price objective on the technology company’s stock.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut Veeva Systems from a buy rating to a hold rating in a research report on Tuesday, October 24th. BidaskClub raised Veeva Systems from a buy rating to a strong-buy rating in a research report on Friday, October 20th. Stifel Nicolaus reaffirmed a buy rating and set a $67.00 price objective on shares of Veeva Systems in a research report on Friday, October 13th. Needham & Company LLC reaffirmed a buy rating on shares of Veeva Systems in a research report on Thursday, October 12th. Finally, JMP Securities reaffirmed a buy rating and set a $70.00 price objective on shares of Veeva Systems in a research report on Saturday, August 26th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $67.45.

Veeva Systems (NYSE VEEV) opened at $56.06 on Wednesday. The stock has a market capitalization of $7,702.01, a PE ratio of 94.12, a price-to-earnings-growth ratio of 4.71 and a beta of 1.60. Veeva Systems has a 12-month low of $40.50 and a 12-month high of $68.07.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, December 5th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.09. The business had revenue of $176.10 million for the quarter, compared to analysts’ expectations of $171.99 million. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. analysts anticipate that Veeva Systems will post 0.65 EPS for the current fiscal year.

In related news, President Matthew J. Wallach sold 24,000 shares of Veeva Systems stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $55.83, for a total transaction of $1,339,920.00. Following the sale, the president now owns 24,000 shares of the company’s stock, valued at approximately $1,339,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 37,500 shares of Veeva Systems stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $56.38, for a total value of $2,114,250.00. Following the sale, the senior vice president now directly owns 39,149 shares in the company, valued at approximately $2,207,220.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 242,403 shares of company stock worth $13,988,571. Insiders own 19.17% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of VEEV. Capstone Asset Management Co. bought a new stake in Veeva Systems during the 2nd quarter valued at approximately $202,000. LS Investment Advisors LLC bought a new stake in Veeva Systems in the 2nd quarter worth approximately $105,000. Aperio Group LLC increased its stake in Veeva Systems by 7.2% in the 2nd quarter. Aperio Group LLC now owns 12,475 shares of the technology company’s stock worth $765,000 after acquiring an additional 836 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Veeva Systems by 89.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 252,705 shares of the technology company’s stock worth $15,495,000 after acquiring an additional 119,438 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Veeva Systems in the 2nd quarter worth approximately $1,020,000. 72.38% of the stock is currently owned by 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.

Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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