Veeva Systems (NYSE:VEEV) PT Lowered to $185.00

Veeva Systems (NYSE:VEEV – Get Rating) had its price target trimmed by KeyCorp from $200.00 to $185.00 in a report issued on Thursday, The Fly reports.

VEEV has been the subject of several other research reports. JMP Securities increased their price objective on shares of Veeva Systems from $215.00 to $230.00 and gave the company a market outperform rating in a research note on Thursday, March 2nd. Oppenheimer reissued an outperform rating and issued a $225.00 price objective on shares of Veeva Systems in a research note on Tuesday, March 21st. Guggenheim downgraded shares of Veeva Systems from a buy rating to a neutral rating in a research note on Thursday, February 23rd. TD Cowen increased their price objective on shares of Veeva Systems from $184.00 to $189.00 and gave the company a market perform rating in a research note on Monday, March 6th. Finally, Truist Financial reissued a hold rating and issued a $195.00 price objective (down previously from $205.00) on shares of Veeva Systems in a research note on Friday, March 17th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems has a consensus rating of Moderate Buy and an average target price of $203.09.

Veeva Systems Trading Up 0.2 %

Shares of Veeva Systems stock opened at $162.86 on Thursday. The company has a 50 day moving average of $176.29 and a 200-day moving average of $173.41. Veeva Systems has a 1-year low of $151.02 and a 1-year high of $232.26. The company has a market cap of $26.03 billion, a PE ratio of 54.11, a price-to-earnings-growth ratio of 2.78 and a beta of 0.92.

Veeva Systems (NYSE:VEEV – Get Rating) last issued its quarterly earnings results on Wednesday, March 1st. The technology company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. Veeva Systems had a net margin of 22.63% and a return on equity of 12.42%. The company had revenue of $563.39 million during the quarter, compared to the consensus estimate of $552.18 million. Research analysts forecast that Veeva Systems will post 2.55 earnings per share for the current year.

Insider Transactions at Veeva Systems

In other Veeva Systems news, Director Matthew J. Wallach sold 10,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $178.56, for a total value of $1,785,600.00. Following the completion of the sale, the director now directly owns 3,145 shares in the company, valued at $561,571.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Veeva Systems news, Director Paul Edward Chamberlain sold 160 shares of the firm’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $169.42, for a total value of $27,107.20. Following the completion of the sale, the director now directly owns 16,776 shares in the company, valued at $2,842,189.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew J. Wallach sold 10,000 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $178.56, for a total transaction of $1,785,600.00. Following the completion of the sale, the director now owns 3,145 shares of the company’s stock, valued at $561,571.20. The disclosure for this sale can be found here. Insiders sold a total of 12,818 shares of company stock worth $2,296,277 over the last three months. 10.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Pinnacle Bancorp Inc. bought a new position in shares of Veeva Systems in the first quarter valued at $26,000. Ahrens Investment Partners LLC bought a new position in shares of Veeva Systems in the first quarter valued at $27,000. Barrett & Company Inc. bought a new position in shares of Veeva Systems in the first quarter valued at $28,000. CI Investments Inc. lifted its stake in shares of Veeva Systems by 964.7% in the third quarter. CI Investments Inc. now owns 181 shares of the technology company’s stock valued at $30,000 after buying an additional 164 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Veeva Systems by 143.0% in the fourth quarter. Lindbrook Capital LLC now owns 192 shares of the technology company’s stock valued at $31,000 after buying an additional 113 shares in the last quarter. 78.76% of the stock is owned by institutional investors.

Veeva Systems Company Profile

(Get Rating)

Veeva Systems, Inc engages in the provision of industry cloud solutions for the global 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.