Needham & Company LLC reissued their buy rating on shares of Veeva Systems (NYSE:VEEV) in a research report report published on Wednesday, Briefing.com Automated Import reports. The firm currently has a $150.00 price target on the technology company’s stock, up from their previous price target of $135.00.

A number of other analysts also recently issued reports on the stock. DA Davidson raised their price objective on shares of Veeva Systems to $160.00 and gave the stock a buy rating in a report on Friday, April 12th. SunTrust Banks raised their price objective on shares of Veeva Systems to $140.00 and gave the stock a buy rating in a report on Wednesday, February 27th. JMP Securities raised their price objective on shares of Veeva Systems from $108.00 to $122.00 and gave the stock a market outperform rating in a report on Wednesday, February 27th. Deutsche Bank raised their price objective on shares of Veeva Systems from $100.00 to $115.00 and gave the stock a hold rating in a report on Wednesday, February 27th. Finally, Barclays raised their price objective on shares of Veeva Systems from $130.00 to $133.00 and gave the stock an equal weight rating in a report on Wednesday, February 27th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $119.71.

Shares of VEEV stock opened at $127.83 on Wednesday. The stock has a market capitalization of $18.72 billion, a PE ratio of 103.09, a PEG ratio of 5.85 and a beta of 1.72. Veeva Systems has a one year low of $68.11 and a one year high of $137.26.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Tuesday, February 26th. The technology company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The company had revenue of $232.32 million during the quarter, compared to the consensus estimate of $227.15 million. Veeva Systems had a net margin of 26.66% and a return on equity of 16.91%. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. As a group, sell-side analysts expect that Veeva Systems will post 1.53 EPS for the current year.

In other news, Director Paul J. Sekhri sold 600 shares of Veeva Systems stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $127.53, for a total value of $76,518.00. Following the completion of the transaction, the director now owns 16,468 shares in the company, valued at $2,100,164.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Matthew J. Wallach sold 12,000 shares of Veeva Systems stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $135.62, for a total transaction of $1,627,440.00. Following the completion of the transaction, the president now owns 12,000 shares of the company’s stock, valued at approximately $1,627,440. The disclosure for this sale can be found here. Insiders sold 115,457 shares of company stock valued at $13,715,593 in the last quarter. Corporate insiders own 15.97% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in VEEV. Ffcm LLC bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $26,000. Bollard Group LLC bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $27,000. Private Capital Group LLC boosted its position in shares of Veeva Systems by 508.6% in the fourth quarter. Private Capital Group LLC now owns 353 shares of the technology company’s stock valued at $32,000 after acquiring an additional 295 shares during the period. Executive Wealth Management LLC bought a new position in shares of Veeva Systems in the fourth quarter valued at approximately $34,000. Finally, Valeo Financial Advisors LLC boosted its position in shares of Veeva Systems by 319.1% in the fourth quarter. Valeo Financial Advisors LLC now owns 394 shares of the technology company’s stock valued at $35,000 after acquiring an additional 300 shares during the period. Institutional investors own 77.82% of the company’s stock.

About Veeva Systems

Veeva Systems, Inc engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

Featured Article: Analyst Ratings Trading

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.