Veeva Systems (NYSE:VEEV – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.
VEEV has been the subject of several other research reports. KeyCorp increased their price objective on shares of Veeva Systems from $185.00 to $210.00 in a research report on Friday, June 2nd. Truist Financial increased their price target on shares of Veeva Systems from $195.00 to $204.00 in a research note on Thursday, June 8th. TD Cowen raised their target price on shares of Veeva Systems from $184.00 to $189.00 and gave the stock a “market perform” rating in a research note on Monday, March 6th. UBS Group lowered their price target on shares of Veeva Systems from $190.00 to $175.00 in a research report on Monday, May 22nd. Finally, Guggenheim upgraded shares of Veeva Systems from a “neutral” rating to a “buy” rating and set a $226.00 target price for the company in a research report on Thursday, June 1st. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and an average target price of $205.65.
Veeva Systems Trading Up 1.2 %
Shares of VEEV stock opened at $202.52 on Wednesday. Veeva Systems has a 1 year low of $151.02 and a 1 year high of $232.26. The firm’s 50 day moving average is $180.04 and its 200-day moving average is $173.74. The firm has a market capitalization of $32.45 billion, a price-to-earnings ratio of 63.29, a PEG ratio of 3.68 and a beta of 0.92.
Veeva Systems (NYSE:VEEV – Get Rating) last issued its earnings results on Wednesday, May 31st. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.38 by $0.09. Veeva Systems had a net margin of 23.85% and a return on equity of 10.88%. The firm had revenue of $526.33 million during the quarter, compared to the consensus estimate of $515.47 million. On average, equities research analysts forecast that Veeva Systems will post 2.68 earnings per share for the current fiscal year.
Insider Activity at Veeva Systems
In related news, Director Timothy S. Cabral sold 12,036 shares of Veeva Systems stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $200.05, for a total value of $2,407,801.80. Following the transaction, the director now directly owns 71,078 shares of the company’s stock, valued at $14,219,153.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Timothy S. Cabral sold 12,036 shares of Veeva Systems stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $200.05, for a total value of $2,407,801.80. Following the sale, the director now owns 71,078 shares in the company, valued at $14,219,153.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul Edward Chamberlain sold 160 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $189.22, for a total transaction of $30,275.20. Following the sale, the director now owns 16,942 shares in the company, valued at approximately $3,205,765.24. The disclosure for this sale can be found here. Insiders have sold 15,333 shares of company stock valued at $3,059,046 over the last three months. 10.98% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Veeva Systems
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinnacle Bancorp Inc. bought a new position in shares of Veeva Systems during the 1st quarter valued at approximately $26,000. Ahrens Investment Partners LLC bought a new stake in Veeva Systems during the first quarter valued at about $27,000. Barrett & Company Inc. bought a new stake in Veeva Systems during the first quarter valued at about $28,000. CI Investments Inc. boosted its holdings in Veeva Systems by 964.7% in the third quarter. CI Investments Inc. now owns 181 shares of the technology company’s stock worth $30,000 after acquiring an additional 164 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Veeva Systems by 143.0% in the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the technology company’s stock worth $31,000 after acquiring an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.
Veeva Systems Company Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.