Stifel Nicolaus Reaffirms Buy Rating for Veeva Systems Inc (VEEV)
Veeva Systems Inc (NYSE:VEEV)‘s stock had its “buy” rating reissued by research analysts at Stifel Nicolaus in a report issued on Sunday. They presently have a $60.00 target price on the technology company’s stock, up from their prior target price of $50.00. Stifel Nicolaus’ price target would suggest a potential downside of 0.51% from the company’s current price.
VEEV has been the subject of a number of other research reports. Needham & Company LLC lifted their price objective on shares of Veeva Systems from $46.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. Zacks Investment Research cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Monday, January 30th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Veeva Systems presently has a consensus rating of “Buy” and a consensus price target of $47.21.
Veeva Systems (NYSE:VEEV) opened at 60.31 on Friday. The firm has a 50-day moving average of $53.56 and a 200-day moving average of $46.14. The company has a market capitalization of $8.37 billion, a P/E ratio of 128.32 and a beta of 1.67. Veeva Systems has a 52 week low of $28.76 and a 52 week high of $61.50.
In related news, insider Eleni Nitsa Zuppas sold 1,066 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $43.85, for a total value of $46,744.10. Following the completion of the sale, the insider now owns 11,415 shares in the company, valued at approximately $500,547.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan Faddis sold 888 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $42.81, for a total transaction of $38,015.28. Following the completion of the sale, the senior vice president now owns 962 shares of the company’s stock, valued at approximately $41,183.22. The disclosure for this sale can be found here. Insiders have sold a total of 369,202 shares of company stock valued at $18,239,572 in the last 90 days. Insiders own 19.17% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. acquired a new stake in Veeva Systems during the third quarter valued at approximately $11,059,000. HBK Investments L P increased its stake in Veeva Systems by 22.3% in the third quarter. HBK Investments L P now owns 67,400 shares of the technology company’s stock valued at $2,782,000 after buying an additional 12,300 shares during the period. Avalon Global Asset Management LLC acquired a new stake in Veeva Systems during the third quarter valued at approximately $3,715,000. White Elm Capital LLC acquired a new stake in Veeva Systems during the third quarter valued at approximately $11,827,000. Finally, SECOR Capital Advisors LP increased its stake in Veeva Systems by 251.0% in the third quarter. SECOR Capital Advisors LP now owns 168,686 shares of the technology company’s stock valued at $6,963,000 after buying an additional 120,621 shares during the period. Hedge funds and other institutional investors own 66.72% of the company’s stock.
Veeva Systems Company Profile
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
Receive News & Ratings for Veeva Systems Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems Inc and related companies with MarketBeat.com's FREE daily email newsletter.