Veeva Systems (VEEV) Receives a Hold from Evercore ISI

By Jason Carr

In a report released yesterday, Kirk Materne from Evercore ISI maintained a Hold rating on Veeva Systems (VEEVResearch Report), with a price target of $170.00. The company’s shares closed last Monday at $153.32.

According to TipRanks.com, Materne is a top 100 analyst with an average return of 29.0% and a 84.8% success rate. Materne covers the Technology sector, focusing on stocks such as Tyler Technologies, Citrix Systems, and Salesforce.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Veeva Systems with a $175.38 average price target, implying a 6.2% upside from current levels. In a report released yesterday, Barclays also maintained a Hold rating on the stock with a $176.00 price target.

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Veeva Systems’ market cap is currently $22.7B and has a P/E ratio of 79.12. The company has a Price to Book ratio of 15.69.

Based on the recent corporate insider activity of 134 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VEEV in relation to earlier this year.

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Veeva Systems, Inc. engages in the provision of industry-specific, cloud-based software solutions for the 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. The firm’s customer relationship management solutions enable its customers to increase the productivity and compliance of their sales and marketing functions. Its regulated content management and collaboration solutions enable its customers to more efficiently manage a regulated, content-centric processes across the enterprise. The company’s customer master solution enables customers to more effectively manage complex healthcare provider and healthcare organization data. The company was founded by Mark Armenante, Peter P. Gassner, Doug Ostler, Mitch Wallace and Matthew J. Wallach on January 12, 2007 and is headquartered in Pleasanton, CA.