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

Shares of Veeva Systems Inc. (NYSE:VEEV) have received an average rating of “Moderate Buy” from the twenty-five ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $255.28.

VEEV has been the topic of a number of analyst reports. Robert W. Baird boosted their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada boosted their price target on Veeva Systems from $275.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Truist Financial boosted their price objective on shares of Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a report on Thursday. 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 report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered shares of Veeva Systems from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd.

Veeva Systems Stock Up 4.6 %

Shares of VEEV opened at $247.10 on Tuesday. The business’s 50 day moving average price is $224.92 and its 200-day moving average price is $220.21. Veeva Systems has a 52 week low of $170.25 and a 52 week high of $258.93. The stock has a market cap of $40.12 billion, a P/E ratio of 61.01, a P/E/G ratio of 1.89 and a beta of 0.88.

Institutional Investors Weigh In On Veeva Systems

Several hedge funds and other institutional investors have recently modified their holdings of VEEV. Confluence Wealth Services Inc. purchased a new stake in shares of Veeva Systems in the 3rd quarter worth $209,000. Angeles Wealth Management LLC purchased a new stake in shares of Veeva Systems in the 3rd quarter worth $319,000. Old North State Wealth Management LLC boosted its holdings in Veeva Systems by 9.8% in the 3rd quarter. Old North State Wealth Management LLC now owns 15,296 shares of the technology company’s stock worth $3,210,000 after buying an additional 1,360 shares during the period. QRG Capital Management Inc. boosted its holdings in Veeva Systems by 7.1% in the 3rd quarter. QRG Capital Management Inc. now owns 9,987 shares of the technology company’s stock worth $2,096,000 after buying an additional 664 shares during the period. Finally, Quintet Private Bank Europe S.A. boosted its holdings in Veeva Systems by 13.4% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 516 shares of the technology company’s stock worth $108,000 after buying an additional 61 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

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.