Veeva Systems (NYSE:VEEV) Stock Rating Reaffirmed by Royal Bank of Canada

Veeva Systems (NYSE:VEEV)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They presently have a $250.00 target price on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 7.81% from the company’s previous close.

Several other brokerages have also weighed in on VEEV. UBS Group increased their target price on Veeva Systems from $185.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a research report on Thursday, February 22nd. Needham & Company LLC raised their price objective on Veeva Systems from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Citigroup raised their price objective on Veeva Systems from $240.00 to $264.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, StockNews.com lowered Veeva Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

Veeva Systems Stock Down 0.6 %

Shares of Veeva Systems stock opened at $231.89 on Wednesday. The firm has a market cap of $37.34 billion, a PE ratio of 72.02, a P/E/G ratio of 2.35 and a beta of 0.74. The business’s fifty day moving average is $220.08 and its two-hundred day moving average is $202.16. Veeva Systems has a fifty-two week low of $160.21 and a fifty-two week high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. The business had revenue of $630.62 million for the quarter, compared to analyst estimates of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Equities research analysts anticipate that Veeva Systems will post 4.11 EPS for the current year.

Insider Buying and Selling

In related news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the transaction, the director now directly owns 23,391 shares in the company, valued at $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $210.02, for a total value of $260,004.76. Following the transaction, the chief operating officer now owns 24,342 shares of the company’s stock, valued at $5,112,306.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the completion of the transaction, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,498 shares of company stock worth $6,219,253. Corporate insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

Large investors have recently bought and sold shares of the business. MetLife Investment Management LLC bought a new stake in shares of Veeva Systems during the first quarter valued at approximately $1,906,000. Dimensional Fund Advisors LP raised its holdings in shares of Veeva Systems by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 190,289 shares of the technology company’s stock valued at $40,430,000 after buying an additional 3,286 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Veeva Systems by 11.5% during the first quarter. Sequoia Financial Advisors LLC now owns 1,018 shares of the technology company’s stock valued at $216,000 after buying an additional 105 shares during the last quarter. National Pension Service raised its holdings in shares of Veeva Systems by 3.0% during the first quarter. National Pension Service now owns 195,170 shares of the technology company’s stock valued at $41,466,000 after buying an additional 5,607 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Veeva Systems by 1.0% during the first quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company’s stock valued at $2,738,229,000 after buying an additional 132,560 shares during the last quarter. Institutional investors own 88.20% 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.