DA Davidson assumed coverage on shares of Veeva Systems (NYSE:VEEV) in a research note published on Friday. The firm issued a buy rating and a $75.00 price target on the technology company’s stock.

Other equities research analysts also recently issued reports about the company. Stifel Nicolaus reiterated a buy rating and issued a $67.00 price objective on shares of Veeva Systems in a report on Friday, October 13th. Needham & Company LLC reiterated a buy rating on shares of Veeva Systems in a report on Thursday, October 12th. Zacks Investment Research upgraded Veeva Systems from a hold rating to a buy rating and set a $65.00 price target for the company in a research note on Wednesday, October 11th. Canaccord Genuity restated a buy rating and set a $70.00 price target on shares of Veeva Systems in a research note on Wednesday, December 6th. Finally, Morgan Stanley upgraded Veeva Systems from an equal weight rating to an overweight rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $68.08.

Shares of Veeva Systems (NYSE VEEV) opened at $57.82 on Friday. Veeva Systems has a twelve month low of $41.30 and a twelve month high of $68.07. The company has a market capitalization of $8,170.00, a PE ratio of 63.54, a P/E/G ratio of 4.42 and a beta of 1.66.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.16 by $0.09. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The company had revenue of $176.10 million during the quarter, compared to the consensus estimate of $171.99 million. During the same period last year, the company earned $0.22 EPS. Veeva Systems’s revenue for the quarter was up 23.3% on a year-over-year basis. equities analysts expect that Veeva Systems will post 0.68 EPS for the current year.

In other news, Director Ronald E. F. Codd sold 3,000 shares of Veeva Systems stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $55.76, for a total transaction of $167,280.00. Following the transaction, the director now directly owns 10,126 shares of the company’s stock, valued at approximately $564,625.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy S. Cabral sold 50,000 shares of Veeva Systems stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $55.74, for a total value of $2,787,000.00. Following the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at $2,787,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 176,017 shares of company stock valued at $10,171,895. Corporate insiders own 17.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of VEEV. Principal Financial Group Inc. lifted its position in shares of Veeva Systems by 9.1% during the 2nd quarter. Principal Financial Group Inc. now owns 20,150 shares of the technology company’s stock valued at $1,235,000 after buying an additional 1,688 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Veeva Systems by 9.7% during the 2nd quarter. Alliancebernstein L.P. now owns 59,951 shares of the technology company’s stock valued at $3,676,000 after buying an additional 5,320 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of Veeva Systems during the 2nd quarter valued at about $239,000. PNC Financial Services Group Inc. lifted its position in shares of Veeva Systems by 28.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,245 shares of the technology company’s stock valued at $751,000 after buying an additional 2,727 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Veeva Systems by 17.8% during the 2nd quarter. Northern Trust Corp now owns 701,393 shares of the technology company’s stock valued at $43,002,000 after buying an additional 105,992 shares in the last quarter. 70.84% of the stock is currently owned by hedge funds and other institutional investors.

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Veeva Systems Company Profile

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)

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