Shares of Veeva Systems Inc (NYSE:VEEV) have earned an average recommendation of “Buy” from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $71.59.
Several research analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Veeva Systems from an “overweight” rating to a “neutral” rating in a report on Friday, March 9th. Zacks Investment Research raised shares of Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $89.00 target price on the stock in a report on Wednesday, March 7th. KeyCorp reaffirmed an “overweight” rating and set a $81.00 target price (up from $70.00) on shares of Veeva Systems in a report on Friday, March 2nd. Morgan Stanley raised their target price on shares of Veeva Systems from $72.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, March 1st. Finally, Canaccord Genuity raised their target price on shares of Veeva Systems from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th.
In related news, Director Timothy C. Barabe sold 1,993 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $78.16, for a total value of $155,772.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Timothy S. Cabral sold 50,000 shares of Veeva Systems stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $55.74, for a total transaction of $2,787,000.00. Following the completion of 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. Insiders sold 254,723 shares of company stock worth $16,573,583 over the last three months. 17.50% of the stock is currently owned by insiders.
Shares of Veeva Systems (VEEV) traded up $1.32 on Friday, hitting $77.77. 737,772 shares of the stock traded hands, compared to its average volume of 1,249,959. Veeva Systems has a 12 month low of $45.91 and a 12 month high of $78.28. The company has a market capitalization of $10,900.00, a PE ratio of 83.93, a PEG ratio of 4.67 and a beta of 1.46.
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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