Veeva Systems (NYSE:VEEV) had its price target lifted by KeyCorp from $84.00 to $99.00 in a research note released on Friday, The Fly reports. KeyCorp currently has an overweight rating on the technology company’s stock.

A number of other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Veeva Systems from a hold rating to a buy rating and set a $94.00 price objective for the company in a research note on Tuesday, July 24th. Needham & Company LLC raised their price objective on shares of Veeva Systems to $90.00 and gave the company a buy rating in a research note on Friday, May 25th. Morgan Stanley raised their price objective on shares of Veeva Systems from $76.00 to $78.00 and gave the company an overweight rating in a research note on Friday, May 25th. Guggenheim initiated coverage on shares of Veeva Systems in a research note on Tuesday, August 7th. They set a buy rating and a $100.00 price objective for the company. Finally, Deutsche Bank raised their price objective on shares of Veeva Systems from $55.00 to $70.00 and gave the company a hold rating in a research note on Friday, May 25th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $92.65.

NYSE:VEEV opened at $100.64 on Friday. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 109.39, a PEG ratio of 4.92 and a beta of 1.38. Veeva Systems has a fifty-two week low of $52.17 and a fifty-two week high of $101.10.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, August 23rd. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $209.60 million during the quarter, compared to analyst estimates of $203.50 million. Veeva Systems had a net margin of 20.78% and a return on equity of 12.47%. Veeva Systems’s revenue was up 24.9% compared to the same quarter last year. During the same period last year, the business earned $0.23 EPS. equities research analysts predict that Veeva Systems will post 1.02 earnings per share for the current year.

In other news, President Matthew J. Wallach sold 12,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $84.57, for a total value of $1,014,840.00. Following the completion of the sale, the president now directly owns 12,000 shares in the company, valued at $1,014,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alan Mateo sold 345 shares of Veeva Systems stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $79.50, for a total transaction of $27,427.50. The disclosure for this sale can be found here. Insiders sold 195,188 shares of company stock valued at $16,156,823 over the last quarter. Company insiders own 15.97% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its stake in shares of Veeva Systems by 2.7% in the second quarter. Public Employees Retirement System of Ohio now owns 92,824 shares of the technology company’s stock worth $7,134,000 after acquiring an additional 2,400 shares during the period. Andra AP fonden grew its stake in shares of Veeva Systems by 2.6% in the second quarter. Andra AP fonden now owns 70,700 shares of the technology company’s stock worth $5,434,000 after acquiring an additional 1,800 shares during the period. Verition Fund Management LLC grew its stake in shares of Veeva Systems by 57.8% in the second quarter. Verition Fund Management LLC now owns 16,522 shares of the technology company’s stock worth $1,270,000 after acquiring an additional 6,054 shares during the period. Morse Asset Management Inc bought a new stake in shares of Veeva Systems in the second quarter worth approximately $272,000. Finally, Castleark Management LLC grew its stake in shares of Veeva Systems by 45.8% in the second quarter. Castleark Management LLC now owns 189,108 shares of the technology company’s stock worth $14,535,000 after acquiring an additional 59,405 shares during the period. Hedge funds and other institutional investors own 76.51% 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 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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Analyst Recommendations for Veeva Systems (NYSE:VEEV)

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