Veeva Systems Inc. (NYSE:VEEV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Veeva Systems Inc. (NYSE:VEEV) have received an average rating of “Moderate Buy” from the twenty-five research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $255.28.

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Bank of America upped their price objective on shares of Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. KeyCorp decreased their price objective on shares of Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Evercore ISI upped their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research report on Friday, December 6th.

Hedge Funds Weigh In On Veeva Systems

A number of large investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its holdings in Veeva Systems by 3.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,698 shares of the technology company’s stock worth $1,086,930,000 after acquiring an additional 177,201 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. State Street Corp lifted its holdings in Veeva Systems by 1.5% in the third quarter. State Street Corp now owns 3,293,141 shares of the technology company’s stock worth $691,132,000 after acquiring an additional 47,872 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new stake in shares of Veeva Systems in the fourth quarter valued at approximately $685,355,000. Finally, FMR LLC increased its stake in shares of Veeva Systems by 7.8% in the fourth quarter. FMR LLC now owns 3,213,360 shares of the technology company’s stock valued at $675,609,000 after purchasing an additional 232,116 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Trading Down 3.0 %

Shares of NYSE VEEV opened at $239.38 on Tuesday. Veeva Systems has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a market cap of $38.86 billion, a P/E ratio of 59.11, a P/E/G ratio of 1.89 and a beta of 0.88. The stock has a fifty day moving average price of $225.47 and a 200 day moving average price of $220.64.

About Veeva Systems

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.