Veeva Systems (NYSE:VEEV) Earns Market Perform Rating from Analysts at Cowen

Cowen assumed coverage on shares of Veeva Systems (NYSE:VEEVGet Rating) in a research report report published on Tuesday morning, The Fly reports. The firm issued a market perform rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on VEEV. Barclays cut their price objective on Veeva Systems from $222.00 to $205.00 and set an equal weight rating for the company in a report on Thursday, September 1st. StockNews.com upgraded Veeva Systems from a hold rating to a buy rating in a report on Monday. JPMorgan Chase & Co. upgraded Veeva Systems from an underweight rating to a neutral rating and cut their price objective for the stock from $225.00 to $170.00 in a report on Wednesday, October 19th. Needham & Company LLC upped their price objective on Veeva Systems from $205.00 to $220.00 and gave the stock a buy rating in a report on Friday, December 2nd. Finally, UBS Group upped their price objective on Veeva Systems to $195.00 and gave the stock a neutral rating in a report on Monday, November 28th. Eleven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $214.33.

Veeva Systems Stock Up 4.7 %

Shares of NYSE VEEV opened at $173.03 on Tuesday. The firm has a market capitalization of $26.87 billion, a P/E ratio of 70.62, a P/E/G ratio of 4.01 and a beta of 0.84. The stock’s 50-day simple moving average is $172.29 and its two-hundred day simple moving average is $187.05. Veeva Systems has a twelve month low of $151.02 and a twelve month high of $274.29.

Insider Transactions at Veeva Systems

In other news, Director Matthew J. Wallach sold 10,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $166.20, for a total value of $1,662,000.00. Following the completion of the transaction, the director now owns 2,546 shares of the company’s stock, valued at approximately $423,145.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Matthew J. Wallach sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $166.20, for a total transaction of $1,662,000.00. Following the completion of the transaction, the director now owns 2,546 shares of the company’s stock, valued at approximately $423,145.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 260 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $179.99, for a total value of $46,797.40. Following the transaction, the director now directly owns 16,443 shares of the company’s stock, valued at approximately $2,959,575.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,593 shares of company stock valued at $14,943,358. Corporate insiders own 13.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VEEV. Harbor Investment Advisory LLC increased its position in Veeva Systems by 120.0% during the 2nd quarter. Harbor Investment Advisory LLC now owns 132 shares of the technology company’s stock valued at $26,000 after buying an additional 72 shares in the last quarter. Fieldpoint Private Securities LLC purchased a new stake in Veeva Systems during the 2nd quarter valued at $30,000. CI Investments Inc. boosted its stake in Veeva Systems by 964.7% during the 3rd quarter. CI Investments Inc. now owns 181 shares of the technology company’s stock valued at $30,000 after purchasing an additional 164 shares during the last quarter. City Holding Co. purchased a new stake in Veeva Systems during the 3rd quarter valued at $34,000. Finally, Western Pacific Wealth Management LP boosted its stake in Veeva Systems by 11,200.0% during the 3rd quarter. Western Pacific Wealth Management LP now owns 226 shares of the technology company’s stock valued at $37,000 after purchasing an additional 224 shares during the last quarter. Institutional investors own 80.14% of the company’s stock.

About Veeva Systems

(Get Rating)

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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