Veeva Systems (NYSE:VEEV) had its price objective lifted by Morgan Stanley from $85.00 to $91.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s target price points to a potential upside of 7.41% from the company’s previous close.

Several other brokerages have also commented on VEEV. Zacks Investment Research lowered shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. SunTrust Banks assumed coverage on shares of Veeva Systems in a research report on Monday, June 25th. They set a “buy” rating and a $100.00 target price on the stock. Guggenheim assumed coverage on shares of Veeva Systems in a research report on Tuesday, August 7th. They set a “buy” rating and a $100.00 target price on the stock. Deutsche Bank boosted their target price on shares of Veeva Systems from $55.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, May 25th. Finally, Needham & Company LLC boosted their target price on shares of Veeva Systems to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 25th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Veeva Systems currently has a consensus rating of “Buy” and an average price target of $82.08.

Shares of NYSE VEEV opened at $84.72 on Thursday. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 91.01, a P/E/G ratio of 4.62 and a beta of 1.38. Veeva Systems has a one year low of $52.17 and a one year high of $85.97.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, May 24th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $195.55 million for the quarter, compared to analyst estimates of $188.92 million. Veeva Systems had a net margin of 20.78% and a return on equity of 12.47%. The business’s revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. sell-side analysts predict that Veeva Systems will post 1.02 earnings per share for the current fiscal year.

In related news, CFO Timothy S. Cabral sold 50,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $81.75, for a total value of $4,087,500.00. Following the sale, the chief financial officer now directly owns 30,000 shares in the company, valued at approximately $2,452,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alan Mateo sold 345 shares of the business’s stock in a transaction dated 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 a total of 183,188 shares of company stock worth $15,141,983 over the last quarter. Insiders own 15.97% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. raised its stake in Veeva Systems by 2.8% in the 1st quarter. Wasatch Advisors Inc. now owns 35,582 shares of the technology company’s stock valued at $2,598,000 after purchasing an additional 967 shares during the last quarter. FDx Advisors Inc. raised its stake in Veeva Systems by 37.8% in the 1st quarter. FDx Advisors Inc. now owns 9,266 shares of the technology company’s stock valued at $677,000 after purchasing an additional 2,542 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Veeva Systems by 26.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,975 shares of the technology company’s stock valued at $290,000 after purchasing an additional 825 shares during the last quarter. Mirador Capital Partners LP raised its stake in Veeva Systems by 19.7% in the 1st quarter. Mirador Capital Partners LP now owns 5,688 shares of the technology company’s stock valued at $399,000 after purchasing an additional 938 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its stake in Veeva Systems by 15.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 8,335 shares of the technology company’s stock valued at $609,000 after purchasing an additional 1,114 shares during the last quarter. Institutional investors and hedge funds own 73.52% of the company’s stock.

About Veeva Systems

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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