Veeva Systems Inc. (NYSE:VEEV) has been making waves in the global life sciences industry with its innovative industry cloud solutions. The company offers modern cloud-based architectures and mobile applications to pharmaceutical and other life sciences companies, which helps them carry out their critical business functions while ensuring industry-specific functionality or regulatory compliance.
This approach has caught the attention of several institutional investors and hedge funds, who have modified their holdings of Veeva Systems in recent times. MetLife Investment Management LLC bought a new position in shares of Veeva Systems worth $1,906,000 in the first quarter. Sequoia Financial Advisors LLC grew its stake by 11.5%, owning 1,018 shares valued at $216,000 after purchasing an additional 105 shares in the same period.
National Pension Service and Dimensional Fund Advisors LP also increased their holdings substantially during this time that contributed to a noteworthy rise of VEEV shares over past months.
Bloomberg reports that twenty-five analysts currently covering the company have assigned VEEV a consensus rating of “Moderate Buy.” Further analysis reveals that eleven investment analysts have rated the stock with a hold rating and twelve suggesting buying it. The average 12-month target price for stockbrokers updating coverage on the stock is $203.14.
In conclusion, Veeva Systems Inc.’s disruptive approach towards offering tools tailored to meet specific requirements keeping regulatory compliance intact seems to be gaining ground among discerning investors. It remains as stellar example for business strategy designers aiming to attract investors while being socially responsible yet efficient at accomplishing essential responsibilities within their respective industries.
Veeva Systems Inc.: Mixed Analyst Reviews, but Insider Trading Shows Confidence in Company Stock
Veeva Systems Receives Mixed Reviews from Analysts but Insider Trading Indicates Confidence
Technology company Veeva Systems Inc. (NYSE:VEEV) has received a mix of reviews recently from equities analysts, but insider trading activities indicate confidence in the company’s stock.
According to reports, Needham & Company LLC reaffirmed their “buy” rating on Veeva Systems’ shares and set their target price at $220 on March 2nd. Meanwhile, UBS Group lowered their price target for the same shares from $200 to $190 and gave a “neutral” rating for the company last December 20th. Morgan Stanley also reduced their price target on Veeva System’s shares from $190 to $181 and issued an “equal weight” rating back in January 2017.
Despite these mixed signals, Robert W. Baird still recommended Veeva System’s stocks with an “outperform” rating and lowered their price target from $233 to $223 last February 27th while Citigroup cut its price target to $200 while maintaining the “Buy” rating on March 1st.
However, insider trading activities show that some executives are bullish about the future of Veeva Systems. Director Paul Edward Chamberlain reportedly sold 160 shares of the company’s stocks in two separate transactions (one occurring last March 10th and another one earlier this year) both worth over a million dollars in total value. Chamberlain is said to have already over $2 million worth of stocks after selling other Veeva System’s shares in past transactions.
Director Timothy S Cabral also disposed of 4,500 shares of the technology firm’s stock earlier this year for around $730,000 while others insiders denoted as unnamed are known to have sold more than half a million similarly-valued stocks early this month alone.
Veeva Systems opened at a share price of $181.11 in the New York Stock Exchange by Tuesday with a market cap of $28.20 billion, a price-to-earnings ratio of 60.17, and a price-to-earnings-growth ratio of 4.26. The company’s stock prices ranged from $151.02 to $232.26 in the last twelve months with an overall positive trend.
Despite mixed reviews from equities analysts, its board members’ insider trading activities convey positive confidence in Veeva System’s performance and financial outlook.