Veeva Systems Inc (NYSE:VEEV) has been given an average recommendation of “Buy” by the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $94.29.

VEEV has been the subject of several research reports. Zacks Investment Research upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Thursday, May 31st. SunTrust Banks initiated coverage on shares of Veeva Systems in a research note on Monday, June 25th. They issued a “buy” rating and a $100.00 price target for the company. Morgan Stanley boosted their price target on shares of Veeva Systems from $78.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 27th. Guggenheim initiated coverage on shares of Veeva Systems in a research note on Tuesday, August 7th. They issued a “buy” rating and a $100.00 price target for the company. Finally, KeyCorp restated a “buy” rating on shares of Veeva Systems in a research note on Thursday, August 23rd.

In related news, Director Ronald E. F. Codd sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $79.86, for a total transaction of $798,600.00. Following the completion of the transaction, the director now owns 19,680 shares in the company, valued at $1,571,644.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Paul J. Sekhri sold 601 shares of the business’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $103.67, for a total transaction of $62,305.67. Following the transaction, the director now owns 11,459 shares of the company’s stock, valued at approximately $1,187,954.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 181,644 shares of company stock valued at $17,096,845. Insiders own 15.97% of the company’s stock.

Several hedge funds have recently modified their holdings of VEEV. Dynamic Technology Lab Private Ltd lifted its position in Veeva Systems by 5.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 12,201 shares of the technology company’s stock valued at $891,000 after acquiring an additional 634 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Veeva Systems by 13.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,400 shares of the technology company’s stock valued at $415,000 after acquiring an additional 650 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in Veeva Systems by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 18,011 shares of the technology company’s stock valued at $1,315,000 after acquiring an additional 700 shares during the last quarter. Aperio Group LLC lifted its position in Veeva Systems by 5.5% in the first quarter. Aperio Group LLC now owns 14,182 shares of the technology company’s stock valued at $1,036,000 after acquiring an additional 733 shares during the last quarter. Finally, Twin Capital Management Inc. lifted its position in Veeva Systems by 3.0% in the second quarter. Twin Capital Management Inc. now owns 29,080 shares of the technology company’s stock valued at $2,235,000 after acquiring an additional 840 shares during the last quarter. Hedge funds and other institutional investors own 75.99% of the company’s stock.

NYSE:VEEV opened at $104.46 on Thursday. The firm has a market capitalization of $15.08 billion, a price-to-earnings ratio of 113.54, a price-to-earnings-growth ratio of 4.96 and a beta of 1.54. Veeva Systems has a 52 week low of $52.17 and a 52 week high of $107.77.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, August 23rd. The technology company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.05. The business had revenue of $209.60 million during the quarter, compared to the consensus estimate of $203.50 million. Veeva Systems had a net margin of 21.23% and a return on equity of 13.58%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. sell-side analysts forecast that Veeva Systems will post 1.1 EPS for the current year.

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 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.

Recommended Story: How a Put Option Works

Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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