Veeva Systems Inc. (NYSE:VEEV) Holdings Raised by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,664 shares of the technology company’s stock after purchasing an additional 1,844 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Veeva Systems were worth $6,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VEEV. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Veeva Systems by 78.4% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,985 shares of the technology company’s stock valued at $1,469,000 after purchasing an additional 3,070 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Veeva Systems by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 473,154 shares of the technology company’s stock valued at $99,490,000 after purchasing an additional 35,348 shares during the period. Dnca Finance grew its stake in Veeva Systems by 120.6% during the 4th quarter. Dnca Finance now owns 35,300 shares of the technology company’s stock worth $7,422,000 after buying an additional 19,300 shares during the last quarter. Epoch Investment Partners Inc. increased its position in Veeva Systems by 9.7% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,362 shares of the technology company’s stock worth $286,000 after buying an additional 120 shares during the period. Finally, First Trust Advisors LP lifted its stake in Veeva Systems by 10.4% in the fourth quarter. First Trust Advisors LP now owns 634,840 shares of the technology company’s stock valued at $133,475,000 after buying an additional 59,567 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity at Veeva Systems

In other news, Director Timothy S. Cabral sold 3,882 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now owns 5,500 shares in the company, valued at $1,192,565. This represents a 41.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares of the company’s stock, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,869 shares of company stock worth $1,284,917. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Trading Up 2.7 %

VEEV stock opened at $215.85 on Wednesday. The firm has a 50-day moving average of $226.48 and a two-hundred day moving average of $223.57. The firm has a market capitalization of $35.12 billion, a PE ratio of 53.30, a P/E/G ratio of 1.89 and a beta of 1.05. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Wall Street Analysts Forecast Growth

VEEV has been the subject of several recent research reports. Stephens restated an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Morgan Stanley raised their price target on shares of Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday, March 6th. Truist Financial boosted their price objective on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a research report on Thursday, March 6th. KeyCorp lowered their target price on Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $256.32.

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.