Veeva Systems Inc. (NYSE:VEEV) has been given a consensus rating of “Buy” by the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $67.45.

Several research analysts recently issued reports on VEEV shares. Zacks Investment Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub lowered Veeva Systems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Friday, August 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $67.00 target price on shares of Veeva Systems in a research report on Monday, July 10th. Finally, KeyCorp reaffirmed a “buy” rating and set a $70.00 target price on shares of Veeva Systems in a research report on Friday, August 25th.

In other news, SVP Jonathan Faddis sold 931 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $58.74, for a total value of $54,686.94. Following the completion of the sale, the senior vice president now directly owns 2,580 shares in the company, valued at approximately $151,549.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alan Mateo sold 10,028 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $63.34, for a total value of $635,173.52. Following the completion of the sale, the executive vice president now owns 7,989 shares of the company’s stock, valued at $506,023.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 281,640 shares of company stock valued at $16,508,535. Company insiders own 19.17% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Veeva Systems by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 9,125,993 shares of the technology company’s stock valued at $559,515,000 after buying an additional 290,865 shares during the period. BlackRock Inc. grew its stake in shares of Veeva Systems by 44.9% in the 2nd quarter. BlackRock Inc. now owns 5,812,749 shares of the technology company’s stock valued at $356,379,000 after buying an additional 1,801,439 shares during the period. FMR LLC grew its stake in shares of Veeva Systems by 50.9% in the 2nd quarter. FMR LLC now owns 3,456,402 shares of the technology company’s stock valued at $211,912,000 after buying an additional 1,166,372 shares during the period. First Trust Advisors LP grew its stake in shares of Veeva Systems by 1.2% in the 2nd quarter. First Trust Advisors LP now owns 2,085,958 shares of the technology company’s stock valued at $127,890,000 after buying an additional 25,655 shares during the period. Finally, State Street Corp grew its stake in shares of Veeva Systems by 52.1% in the 2nd quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock valued at $113,851,000 after buying an additional 635,842 shares during the period. Institutional investors own 71.46% of the company’s stock.

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Shares of Veeva Systems (NYSE:VEEV) opened at 57.42 on Thursday. Veeva Systems has a 52 week low of $37.10 and a 52 week high of $68.07. The company’s 50 day moving average price is $57.42 and its 200-day moving average price is $58.80. The firm has a market capitalization of $8.07 billion, a PE ratio of 73.43 and a beta of 1.62.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The business had revenue of $166.59 million during the quarter, compared to analyst estimates of $164.26 million. Veeva Systems had a return on equity of 12.77% and a net margin of 18.98%. Veeva Systems’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. On average, equities research analysts expect that Veeva Systems will post $0.87 EPS for the current fiscal year.

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.

Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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