New York State Teachers Retirement System Takes Position in Veeva Systems Inc. (NYSE:VEEV)

New York State Teachers Retirement System purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,306 shares of the technology company’s stock, valued at approximately $1,022,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UMB Bank n.a. increased its holdings in shares of Veeva Systems by 2.5% in the 3rd quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock valued at $428,000 after acquiring an additional 51 shares during the period. NewEdge Wealth LLC increased its holdings in shares of Veeva Systems by 0.6% in the 3rd quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company’s stock valued at $2,047,000 after acquiring an additional 60 shares during the period. Personal CFO Solutions LLC increased its holdings in shares of Veeva Systems by 5.9% in the 3rd quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock valued at $222,000 after acquiring an additional 61 shares during the period. Penserra Capital Management LLC increased its holdings in shares of Veeva Systems by 9.3% in the 4th quarter. Penserra Capital Management LLC now owns 729 shares of the technology company’s stock valued at $117,000 after acquiring an additional 62 shares during the period. Finally, Toroso Investments LLC grew its stake in Veeva Systems by 4.9% during the 3rd quarter. Toroso Investments LLC now owns 1,318 shares of the technology company’s stock worth $217,000 after buying an additional 62 shares during the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the completion of the transaction, the senior vice president now owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the transaction, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,836 shares of company stock valued at $4,396,902. 10.98% of the stock is owned by company insiders.

Veeva Systems Stock Down 0.6 %

Shares of VEEV stock opened at $199.18 on Thursday. The stock has a market cap of $32.13 billion, a PE ratio of 61.86, a price-to-earnings-growth ratio of 2.04 and a beta of 0.74. The business has a 50-day simple moving average of $221.86 and a 200-day simple moving average of $202.84. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11. The business had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Sell-side analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

VEEV has been the topic of several research analyst reports. StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. The Goldman Sachs Group boosted their target price on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Truist Financial boosted their target price on Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a research note on Friday, March 1st. Royal Bank of Canada restated an “outperform” rating and set a $250.00 target price on shares of Veeva Systems in a research note on Wednesday, March 27th. Finally, Robert W. Baird boosted their target price on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $234.90.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.