The Vanguard Group, Inc. recently announced the acquisition of new stake in Veeva Systems Inc. (NYSE:VEEV). The institutional investor has increased its shareholding in the Healthcare company by 0.49% to 12.76 million shares with purchase of 61587.0 shares. This fresh investment now brings its stake to 9.45% valued currently at $2.99 billion. In addition, Morgan Stanley Investment Managem. raised its holdings by 2.29 million to 11.38 million shares. And T. Rowe Price Associates, Inc. (I. has lifted its position by 75.73% or 4.25 million shares – to 9.86 million shares.
With over 0.6 million Veeva Systems Inc. (VEEV) shares trading Tuesday and a closing price of $258.65 on the day, the dollar volume was approximately $156.45 million. The shares have shown a positive weekly performance of 5.13% and its price on 07/21/20 gained nearly 0.64%. Currently, there are 149.54M common shares owned by the public and among those 134.25M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for VEEV have a consensus price objective of $224.37. The analysts have set the share’s price value over the next 12 months at a high of $290.00 and a low of $167.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Veeva Systems Inc. stock is 1.90 for the next 12 months. The average price target is -14.59% below its last price level and a downside to the estimated low will see the stock lose -54.88% over that period. But an upside of 10.81% will see the stock hit the forecast high price target while mean target price for the stock is $225.00.
Insiders at the company have transacted a total of 280 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 135 of these insider trades were purchases, accounting for 439,813 shares. Insider sales of the common stock occurred on 145 occasions, with total insider shares sold totaling 394,516 shares.
The top 3 mutual fund holders in Veeva Systems Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and T Rowe Price New Horizons Fund. Vanguard Total Stock Market Index owns 3.84 million shares of the company’s stock, all valued at over $900.69 million. The company bought an additional 51594.0 shares recently to bring their total holdings to about 2.85% of the shares outstanding. Vanguard Mid Cap Index Fund sold 98212.0 shares to see its total holdings shrink to 3.33 million shares valued at over $781.66 million and representing 2.47% of the shares outstanding. T Rowe Price New Horizons Fund sold -0.68 million shares to bring its total holdings to over 3.06 million shares at a value of $718.03 million. T Rowe Price New Horizons Fund now owns shares totaling to 2.27% of the shares outstanding.
Shares of Veeva Systems Inc. (NYSE: VEEV) opened at $263.52, up $6.52 from a prior closing price of $257.00. However, the script later closed the day at $258.65, up 0.64%. The company’s stock has a 5-day price change of 5.13% and 45.82% over the past three months. VEEV shares are trading 82.71% year to date (YTD), with the 12-month market performance up to 52.27% higher. It has a 12-month low price of $118.11 and touched a high of $263.63 over the same period. Currently, 0.6 million shares have been traded, compared to an average intraday trading volume of 1.20 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.66%, 15.38%, and 52.07% respectively.
Institutional ownership of Veeva Systems Inc. (NYSE: VEEV) shares accounts for 91.70% of the company’s 149.54M shares outstanding. Mutual fund holders own 37.02%, while other institutional holders and individual stakeholders account for 54.62% and 1.73% respectively.
It has a market capitalization of $37.96B and a beta (3y monthly) value of 0.94. The stock’s trailing 12-month PE ratio is 125.86, while the earnings-per-share (ttm) stands at $2.04. The company has a PEG of 7.38 and a Quick Ratio of 3.00 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.03% over the week and 3.37% over the month.
Analysts forecast that Veeva Systems Inc. (VEEV) will achieve an EPS of $0.64 for the current quarter, $0.63 for the next quarter and $3.04 for 2022. The lowest estimate earnings-per-share for the quarter is $0.63 while analysts give the company a high EPS estimate of $0.65. Comparatively, EPS for the current quarter was $0.55 a year ago. Earnings per share for the fiscal year are expected to increase by 21.40%, and 19.61% over the next financial year. EPS should shrink at an annualized rate of 17.05% over the next five years, compared to 45.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Veeva Systems Inc. (VEEV) as a “Strong Buy” at a consensus score of 1.90. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 6 of the 21 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the VEEV, a number of firms have released research notes about the stock. Stephens stated their Overweight rating for the stock in a research note on July 07, 2020, with the firm’s price target at $290. Citigroup coverage for the Veeva Systems Inc. (VEEV) stock in a research note released on June 08, 2020 offered a Buy rating with a price target of $265. Needham was of a view on May 29, 2020 that the stock is Buy, while SVB Leerink gave the stock Mkt Perform rating on April 13, 2020, issuing a price target of. Robert W. Baird on their part issued Outperform rating on February 19, 2020.