Fintel reports that on September 7, 2023, Truist Securities maintained coverage of Veeva Systems Inc - (NYSE:VEEV) with a Hold recommendation.
Analyst Price Forecast Suggests 1.96% Downside
As of August 31, 2023, the average one-year price target for Veeva Systems Inc - is 218.12. The forecasts range from a low of 171.70 to a high of $255.15. The average price target represents a decrease of 1.96% from its latest reported closing price of 222.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Veeva Systems Inc - is 2,473MM, an increase of 10.78%. The projected annual non-GAAP EPS is 4.61.
What is the Fund Sentiment?
There are 1447 funds or institutions reporting positions in Veeva Systems Inc -. This is a decrease of 24 owner(s) or 1.63% in the last quarter. Average portfolio weight of all funds dedicated to VEEV is 0.42%, a decrease of 1.51%. Total shares owned by institutions increased in the last three months by 1.96% to 155,969K shares. 
The put/call ratio of VEEV is 0.90, indicating a bullish outlook.
What are Other Shareholders Doing?
Artisan Partners Limited Partnership holds 10,569K shares representing 6.58% ownership of the company. In it's prior filing, the firm reported owning 10,262K shares, representing an increase of 2.90%. The firm increased its portfolio allocation in VEEV by 8.33% over the last quarter.
Alliancebernstein holds 7,779K shares representing 4.84% ownership of the company. In it's prior filing, the firm reported owning 7,455K shares, representing an increase of 4.16%. The firm increased its portfolio allocation in VEEV by 7.00% over the last quarter.
Price T Rowe Associates holds 6,798K shares representing 4.23% ownership of the company. In it's prior filing, the firm reported owning 7,785K shares, representing a decrease of 14.51%. The firm increased its portfolio allocation in VEEV by 97.30% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,541K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 4,362K shares, representing an increase of 3.94%. The firm increased its portfolio allocation in VEEV by 3.33% over the last quarter.
T. Rowe Price Investment Management holds 4,446K shares representing 2.77% ownership of the company. In it's prior filing, the firm reported owning 4,436K shares, representing an increase of 0.21%. The firm increased its portfolio allocation in VEEV by 2.43% over the last quarter.
Veeva Systems Background Information
(This description is provided by the company.)
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 975 customers, ranging from the world's largest pharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves.
Additional reading:
- Veeva Announces Fiscal 2024 Second Quarter Results Total Revenues of $590.2M, up 10% Year Over Year; Subscription Services Revenues of $470.6M, up 10% Year Over Year
- Diamond Offer Letter dated, April 12, 2023
- Amended and Restated Bylaws of Veeva, dated June 21, 2023.
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