Veeva Systems (NYSE:VEEV – Free Report) had its target price lifted by Robert W. Baird from $235.00 to $242.00 in a research note released on Thursday morning, MarketBeat.com reports. They currently have an outperform rating on the technology company’s stock.
A number of other equities research analysts have also weighed in on the stock. StockNews.com began coverage on shares of Veeva Systems in a research note on Thursday, August 17th. They set a hold rating for the company. UBS Group cut their price objective on shares of Veeva Systems from $190.00 to $175.00 in a research report on Monday, May 22nd. Barclays boosted their price objective on shares of Veeva Systems from $225.00 to $228.00 in a research report on Thursday. Guggenheim raised shares of Veeva Systems from a neutral rating to a buy rating and set a $226.00 price objective for the company in a research report on Thursday, June 1st. Finally, Raymond James upped their target price on shares of Veeva Systems from $200.00 to $210.00 in a report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $213.43.
Read Our Latest Stock Analysis on VEEV
Veeva Systems Stock Up 8.4 %
Veeva Systems (NYSE:VEEV – Get Free Report) last announced its quarterly earnings data on Wednesday, August 30th. The technology company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $590.23 million during the quarter, compared to analyst estimates of $582.28 million. Veeva Systems had a net margin of 23.85% and a return on equity of 10.88%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 EPS. On average, equities analysts anticipate that Veeva Systems will post 2.7 EPS for the current year.
Insider Activity
In related news, Director Paul Edward Chamberlain sold 160 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $189.22, for a total value of $30,275.20. Following the sale, the director now directly owns 16,942 shares of the company’s stock, valued at approximately $3,205,765.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.98% of the company’s stock.
Institutional Trading of Veeva Systems
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC raised its position in Veeva Systems by 9.3% in the 4th quarter. Penserra Capital Management LLC now owns 729 shares of the technology company’s stock worth $117,000 after purchasing an additional 62 shares during the period. Toroso Investments LLC increased its position in shares of Veeva Systems by 4.9% during the third quarter. Toroso Investments LLC now owns 1,318 shares of the technology company’s stock worth $217,000 after acquiring an additional 62 shares during the period. Forum Financial Management LP increased its position in shares of Veeva Systems by 6.6% during the first quarter. Forum Financial Management LP now owns 1,038 shares of the technology company’s stock worth $220,000 after acquiring an additional 64 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in shares of Veeva Systems by 1.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,511 shares of the technology company’s stock worth $645,000 after acquiring an additional 65 shares during the period. Finally, Covestor Ltd increased its position in shares of Veeva Systems by 9.1% during the second quarter. Covestor Ltd now owns 790 shares of the technology company’s stock worth $156,000 after acquiring an additional 66 shares during the period. 80.07% of the stock is owned by hedge funds and other institutional investors.
About Veeva Systems
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.
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