Veeva Systems (NYSE:VEEV) Price Target Lowered to $175.00 at UBS Group

Veeva Systems (NYSE:VEEV – Get Rating) had its target price trimmed by UBS Group from $190.00 to $175.00 in a research note released on Monday morning, The Fly reports.

A number of other equities analysts have also weighed in on VEEV. TD Cowen upped their price objective on Veeva Systems from $184.00 to $189.00 and gave the stock a market perform rating in a research note on Monday, March 6th. Citigroup decreased their price objective on Veeva Systems from $213.00 to $200.00 and set a buy rating for the company in a report on Wednesday, March 1st. StockNews.com lowered Veeva Systems from a buy rating to a hold rating in a research note on Wednesday, May 17th. Oppenheimer reiterated an outperform rating and issued a $225.00 price objective on shares of Veeva Systems in a report on Tuesday, March 21st. Finally, KeyCorp lowered their target price on Veeva Systems from $210.00 to $200.00 and set an overweight rating on the stock in a report on Friday, March 3rd. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Veeva Systems has a consensus rating of Moderate Buy and a consensus price target of $203.09.

Veeva Systems Trading Up 0.2 %

Shares of VEEV stock opened at $162.86 on Monday. The business’s 50-day moving average price is $176.29 and its 200-day moving average price is $173.41. Veeva Systems has a 12 month low of $151.02 and a 12 month high of $232.26. The firm has a market capitalization of $26.03 billion, a price-to-earnings ratio of 54.11, a PEG ratio of 2.80 and a beta of 0.92.

Veeva Systems (NYSE:VEEV – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The technology company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The firm had revenue of $563.39 million during the quarter, compared to the consensus estimate of $552.18 million. Veeva Systems had a return on equity of 12.42% and a net margin of 22.63%. On average, sell-side analysts predict that Veeva Systems will post 2.55 earnings per share for the current fiscal year.

Insider Transactions at Veeva Systems

In related news, Director Paul J. Sekhri sold 2,658 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $181.93, for a total value of $483,569.94. Following the completion of the transaction, the director now owns 16,381 shares of the company’s stock, valued at approximately $2,980,195.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Veeva Systems news, Director Paul J. Sekhri sold 2,658 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $181.93, for a total transaction of $483,569.94. Following the completion of the sale, the director now directly owns 16,381 shares of the company’s stock, valued at approximately $2,980,195.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew J. Wallach sold 10,000 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $178.56, for a total value of $1,785,600.00. Following the transaction, the director now owns 3,145 shares of the company’s stock, valued at $561,571.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,818 shares of company stock valued at $2,296,277. Insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On Veeva Systems

Large investors have recently bought and sold shares of the company. MetLife Investment Management LLC bought a new position in shares of Veeva Systems during the 1st quarter valued at about $1,906,000. Dimensional Fund Advisors LP lifted its holdings in Veeva Systems by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 190,289 shares of the technology company’s stock worth $40,430,000 after buying an additional 3,286 shares during the period. Sequoia Financial Advisors LLC raised its stake in Veeva Systems by 11.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,018 shares of the technology company’s stock worth $216,000 after acquiring an additional 105 shares during the last quarter. National Pension Service grew its position in shares of Veeva Systems by 3.0% during the 1st quarter. National Pension Service now owns 195,170 shares of the technology company’s stock valued at $41,466,000 after acquiring an additional 5,607 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Veeva Systems by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 12,888,204 shares of the technology company’s stock valued at $2,738,229,000 after buying an additional 132,560 shares during the period. 78.76% of the stock is currently owned by institutional investors.

Veeva Systems Company Profile

(Get Rating)

Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.