Veeva Systems (VEEV) Coverage Initiated at DA Davidson
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.
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.
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.
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