Veeva Systems (NYSE:VEEV) Earns Overweight Rating from Stephens

Stephens restated their overweight rating on shares of Veeva Systems (NYSE:VEEV) in a report published on Thursday,Benzinga reports. They currently have a $280.00 target price on the technology company’s stock.

Several other equities research analysts also recently issued reports on VEEV. Robert W. Baird lifted their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday. Piper Sandler lifted their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and reduced their price objective for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Stifel Nicolaus raised their price objective on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company upped their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.28.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $236.47 on Thursday. Veeva Systems has a 1-year low of $170.25 and a 1-year high of $258.93. The company has a market capitalization of $38.39 billion, a PE ratio of 58.39, a P/E/G ratio of 1.89 and a beta of 0.85. The business has a 50-day moving average of $224.25 and a 200-day moving average of $219.66.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VEEV. MassMutual Private Wealth & Trust FSB raised its stake in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Veeva Systems during the 4th quarter valued at about $25,000. Smithfield Trust Co raised its position in shares of Veeva Systems by 145.5% during the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock worth $27,000 after buying an additional 80 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after acquiring an additional 135 shares during the period. Finally, Avion Wealth boosted its holdings in shares of Veeva Systems by 635.0% in the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares in the last quarter. Institutional investors and hedge funds 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 analytics 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.