Veeva Systems (NYSE:VEEV) had its price target raised by investment analysts at JMP Securities from $74.00 to $80.00 in a report issued on Friday. The brokerage currently has an “outperform” rating on the technology company’s stock. JMP Securities’ target price would indicate a potential upside of 7.67% from the stock’s current price.
Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Veeva Systems from an “overweight” rating to a “neutral” rating in a research note on Friday, March 9th. Zacks Investment Research upgraded shares of Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $89.00 price target on the stock in a research note on Wednesday, March 7th. KeyCorp restated an “overweight” rating and issued a $81.00 price target (up from $70.00) on shares of Veeva Systems in a research note on Friday, March 2nd. Morgan Stanley upped their price target on shares of Veeva Systems from $72.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, March 1st. Finally, Canaccord Genuity upped their price target on shares of Veeva Systems from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $72.23.
Veeva Systems (NYSE VEEV) opened at $74.30 on Friday. Veeva Systems has a one year low of $48.56 and a one year high of $78.28. The company has a market cap of $10,612.03, a PE ratio of 79.89, a P/E/G ratio of 4.52 and a beta of 1.46.
In other news, Director Paul J. Sekhri sold 1,108 shares of the firm’s stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $75.46, for a total value of $83,609.68. Following the sale, the director now directly owns 13,046 shares in the company, valued at approximately $984,451.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alan Mateo sold 701 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $58.85, for a total transaction of $41,253.85. Following the completion of the sale, the executive vice president now owns 9,512 shares in the company, valued at $559,781.20. The disclosure for this sale can be found here. Insiders have sold 210,831 shares of company stock worth $14,947,742 over the last quarter. Corporate insiders own 19.17% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of VEEV. Champlain Investment Partners LLC acquired a new stake in shares of Veeva Systems in the 4th quarter valued at approximately $24,154,000. Janus Henderson Group PLC boosted its stake in shares of Veeva Systems by 202.7% in the 3rd quarter. Janus Henderson Group PLC now owns 594,544 shares of the technology company’s stock valued at $33,538,000 after purchasing an additional 398,149 shares in the last quarter. Bamco Inc. NY boosted its stake in shares of Veeva Systems by 767.9% in the 4th quarter. Bamco Inc. NY now owns 424,253 shares of the technology company’s stock valued at $23,453,000 after purchasing an additional 375,371 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Veeva Systems by 80.7% in the 4th quarter. Renaissance Technologies LLC now owns 635,200 shares of the technology company’s stock valued at $35,114,000 after purchasing an additional 283,688 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Veeva Systems by 85.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 606,728 shares of the technology company’s stock valued at $34,226,000 after purchasing an additional 279,769 shares in the last quarter. Institutional investors own 73.09% of the company’s stock.
WARNING: This piece of content was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international copyright laws. The original version of this piece of content can be read at https://stocknewstimes.com/2018/03/23/veeva-systems-veev-rating-reiterated-by-jmp-securities.html.
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.
Receive News & Ratings for Veeva Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veeva Systems and related companies with MarketBeat.com's FREE daily email newsletter.