Barclays Increases Veeva Systems (VEEV) Price Target to $151.00
Veeva Systems (NYSE:VEEV) had its price objective raised by Barclays from $144.00 to $151.00 in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the technology company’s stock.
Other equities research analysts have also issued reports about the company. Needham & Company LLC restated a buy rating and set a $150.00 price target (up from $135.00) on shares of Veeva Systems in a research report on Wednesday, April 17th. SunTrust Banks increased their price target on Veeva Systems to $150.00 and gave the stock a buy rating in a research report on Thursday. Bank of America increased their price target on Veeva Systems from $140.00 to $160.00 and gave the stock a buy rating in a research report on Thursday. Stephens upgraded Veeva Systems from an equal rating to an overweight rating and increased their price target for the stock from $130.00 to $155.00 in a research report on Thursday. Finally, KeyCorp increased their price target on Veeva Systems from $133.00 to $172.00 and gave the stock an overweight rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $144.75.
NYSE VEEV opened at $154.29 on Thursday. The company has a market cap of $22.59 billion, a P/E ratio of 124.43, a price-to-earnings-growth ratio of 6.81 and a beta of 1.71. Veeva Systems has a one year low of $73.47 and a one year high of $156.98.
In other Veeva Systems news, CFO Timothy S. Cabral sold 48,765 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $113.91, for a total value of $5,554,821.15. Following the transaction, the chief financial officer now directly owns 23,074 shares in the company, valued at approximately $2,628,359.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Eleni Nitsa Zuppas sold 3,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $141.28, for a total value of $423,840.00. Following the completion of the transaction, the chief marketing officer now owns 12,738 shares in the company, valued at $1,799,624.64. The disclosure for this sale can be found here. Insiders sold a total of 117,851 shares of company stock worth $14,478,546 over the last quarter. Corporate insiders own 14.38% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Lyell Wealth Management LP lifted its stake in shares of Veeva Systems by 4.1% in the 1st quarter. Lyell Wealth Management LP now owns 44,550 shares of the technology company’s stock valued at $5,652,000 after purchasing an additional 1,753 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in shares of Veeva Systems by 0.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,355 shares of the technology company’s stock valued at $836,000 after purchasing an additional 83 shares during the period. QS Investors LLC lifted its stake in shares of Veeva Systems by 235.7% in the 4th quarter. QS Investors LLC now owns 44,243 shares of the technology company’s stock valued at $3,952,000 after purchasing an additional 31,062 shares during the period. Bank of Montreal Can lifted its stake in shares of Veeva Systems by 200.2% in the 4th quarter. Bank of Montreal Can now owns 111,628 shares of the technology company’s stock valued at $9,971,000 after purchasing an additional 74,442 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Veeva Systems by 24.1% in the 4th quarter. Toronto Dominion Bank now owns 16,282 shares of the technology company’s stock valued at $1,454,000 after purchasing an additional 3,164 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.
Veeva Systems Company Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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