Veeva Systems (NYSE:VEEV) Given New $295.00 Price Target at Mizuho

Veeva Systems (NYSE:VEEV) had its target price lifted by Mizuho from $280.00 to $295.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other brokerages also recently issued reports on VEEV. Truist Financial increased their target price on Veeva Systems from $217.00 to $230.00 and gave the stock a “hold” rating in a research note on Thursday, May 29th. JPMorgan Chase & Co. raised their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. KeyCorp dropped their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Stephens reiterated an “overweight” rating and issued a $280.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Finally, UBS Group raised their price target on shares of Veeva Systems from $250.00 to $285.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $269.80.

Veeva Systems Stock Down 0.5%

Shares of NYSE VEEV opened at $278.28 on Monday. The stock has a market cap of $45.28 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Veeva Systems has a 52-week low of $171.10 and a 52-week high of $285.70. The business has a 50-day moving average price of $231.34 and a 200 day moving average price of $228.27.

Veeva Systems (NYSE:VEEV) last announced its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The firm had revenue of $759.04 million during the quarter, compared to analysts’ expectations of $728.38 million. During the same period in the prior year, the firm earned $1.50 EPS. The business’s revenue was up 16.7% on a year-over-year basis. Sell-side analysts anticipate that Veeva Systems will post 4.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Timothy S. Cabral sold 3,882 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock worth $1,284,917 over the last three months. 10.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Veeva Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VEEV. Leigh Baldwin & CO. LLC bought a new position in Veeva Systems during the fourth quarter worth about $685,355,000. Nuveen LLC bought a new position in Veeva Systems during the first quarter worth about $365,684,000. Norges Bank bought a new position in Veeva Systems during the fourth quarter worth about $294,785,000. JPMorgan Chase & Co. boosted its holdings in Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after buying an additional 1,081,501 shares during the last quarter. Finally, Wealthfront Advisers LLC lifted its holdings in shares of Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock valued at $220,489,000 after purchasing an additional 1,045,188 shares in 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 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.