Vetr cut shares of Veeva Systems (NYSE:VEEV) from a buy rating to a hold rating in a report published on Thursday. They currently have $61.05 price objective on the technology company’s stock.
Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Veeva Systems from a hold rating to a sell rating in a research note on Friday, February 2nd. DA Davidson began coverage on Veeva Systems in a research note on Friday, February 2nd. They issued a buy rating and a $75.00 price target for the company. Morgan Stanley upgraded Veeva Systems from an equal weight rating to an overweight rating in a research note on Tuesday, January 30th. Canaccord Genuity restated a buy rating and issued a $70.00 price target on shares of Veeva Systems in a research note on Wednesday, December 6th. Finally, BidaskClub upgraded Veeva Systems from a buy rating to a strong-buy rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $67.54.
Shares of Veeva Systems (NYSE VEEV) opened at $59.76 on Thursday. The stock has a market capitalization of $8,450.00, a price-to-earnings ratio of 65.67, a P/E/G ratio of 6.08 and a beta of 1.66. Veeva Systems has a one year low of $41.30 and a one year high of $68.07.
In other Veeva Systems news, Director Paul J. Sekhri sold 10,971 shares of Veeva Systems stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $53.83, for a total value of $590,568.93. Following the completion of the transaction, the director now directly owns 27,438 shares of the company’s stock, valued at approximately $1,476,987.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy S. Cabral sold 50,000 shares of Veeva Systems stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 50,000 shares of the company’s stock, valued at $2,787,000. The disclosure for this sale can be found here. Insiders sold a total of 166,417 shares of company stock valued at $9,502,103 over the last ninety days. Insiders own 19.17% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in shares of Veeva Systems by 605.4% during the 3rd quarter. IFP Advisors Inc now owns 13,347 shares of the technology company’s stock worth $753,000 after buying an additional 11,455 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Veeva Systems by 255.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 156,579 shares of the technology company’s stock worth $8,833,000 after buying an additional 112,539 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Veeva Systems by 2.5% during the 2nd quarter. California State Teachers Retirement System now owns 195,489 shares of the technology company’s stock worth $11,985,000 after buying an additional 4,770 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Veeva Systems by 133.5% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 31,420 shares of the technology company’s stock worth $1,772,000 after buying an additional 17,962 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new position in shares of Veeva Systems during the 3rd quarter worth $931,000. 69.89% of the stock is owned by institutional investors.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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