Shares of Veeva Systems Inc. (NYSE:VEEV) have earned an average rating of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $65.00.

A number of brokerages recently issued reports on VEEV. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target on shares of Veeva Systems in a report on Friday. JMP Securities reiterated a “buy” rating on shares of Veeva Systems in a report on Saturday. KeyCorp reiterated a “buy” rating and issued a $70.00 price target on shares of Veeva Systems in a report on Friday. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 price target on shares of Veeva Systems in a report on Tuesday, August 22nd. Finally, Zacks Investment Research lowered Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 27th.

TRADEMARK VIOLATION WARNING: This piece was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this piece can be viewed at https://www.watchlistnews.com/brokerages-set-veeva-systems-inc-veev-pt-at-62-18/1528460.html.

In related news, CFO Timothy S. Cabral sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $65.91, for a total value of $2,636,400.00. Following the completion of the transaction, the chief financial officer now owns 30,000 shares of the company’s stock, valued at $1,977,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eleni Nitsa Zuppas sold 2,924 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $66.78, for a total transaction of $195,264.72. Following the completion of the transaction, the insider now directly owns 7,028 shares of the company’s stock, valued at approximately $469,329.84. The disclosure for this sale can be found here. Insiders sold 279,958 shares of company stock valued at $17,821,591 in the last three months. 17.50% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Veeva Systems by 3.3% in the second quarter. Vanguard Group Inc. now owns 9,125,993 shares of the technology company’s stock worth $559,515,000 after buying an additional 290,865 shares during the last quarter. Morgan Stanley increased its position in shares of Veeva Systems by 113.2% in the first quarter. Morgan Stanley now owns 8,439,930 shares of the technology company’s stock worth $432,800,000 after buying an additional 4,482,021 shares during the last quarter. Brown Capital Management LLC increased its position in shares of Veeva Systems by 3.4% in the first quarter. Brown Capital Management LLC now owns 7,423,513 shares of the technology company’s stock worth $380,678,000 after buying an additional 246,816 shares during the last quarter. BlackRock Inc. increased its position in shares of Veeva Systems by 44.9% in the second quarter. BlackRock Inc. now owns 5,812,749 shares of the technology company’s stock worth $356,379,000 after buying an additional 1,801,439 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Veeva Systems by 22.8% in the first quarter. Wellington Management Group LLP now owns 4,858,775 shares of the technology company’s stock worth $249,158,000 after buying an additional 902,330 shares during the last quarter. 71.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of Veeva Systems (NYSE VEEV) traded up 2.37% during trading on Wednesday, hitting $57.13. The stock had a trading volume of 3,480,240 shares. The firm has a 50-day moving average price of $63.17 and a 200 day moving average price of $56.06. The company has a market capitalization of $8.00 billion, a PE ratio of 73.06 and a beta of 1.63. Veeva Systems has a 52 week low of $36.55 and a 52 week high of $68.07.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $166.59 million during the quarter, compared to analyst estimates of $164.26 million. Veeva Systems had a return on equity of 13.31% and a net margin of 18.98%. Veeva Systems’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share. Equities analysts anticipate that Veeva Systems will post $0.83 earnings per share for the current year.

About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

Analyst Recommendations for Veeva Systems (NYSE:VEEV)

Receive News & Ratings for Veeva Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.