Veeva Systems Inc. (NYSE:VEEV) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 518,396 shares of the technology company’s stock after selling 80,227 shares during the period. New York State Common Retirement Fund owned about 0.32% of Veeva Systems worth $99,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of VEEV. OFI Invest Asset Management acquired a new position in shares of Veeva Systems during the 3rd quarter worth approximately $25,000. Operose Advisors LLC acquired a new position in shares of Veeva Systems during the 3rd quarter worth approximately $29,000. Parkside Financial Bank & Trust raised its position in shares of Veeva Systems by 81.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after purchasing an additional 77 shares during the last quarter. Atticus Wealth Management LLC raised its position in shares of Veeva Systems by 500.0% during the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after purchasing an additional 150 shares during the last quarter. Finally, Nkcfo LLC raised its position in shares of Veeva Systems by 54.7% during the 3rd quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock worth $47,000 after purchasing an additional 82 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems stock in a transaction on Monday, April 15th. The shares were 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 in the company, valued at $2,212,756.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Jonathan Faddis sold 3,598 shares of Veeva Systems 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 SEC, which is available through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems 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 directly owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Company insiders own 10.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VEEV. The Goldman Sachs Group lifted their price objective on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Stifel Nicolaus boosted their price target on Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a report on Friday, March 1st. Truist Financial boosted their price target on Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a report on Friday, March 1st. Piper Sandler boosted their price target on Veeva Systems from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price target on shares of Veeva Systems in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems Trading Up 1.9 %

Shares of NYSE:VEEV traded up $3.69 during midday trading on Tuesday, reaching $202.75. The company had a trading volume of 275,145 shares, compared to its average volume of 972,824. The company’s 50 day moving average price is $220.78 and its 200 day moving average price is $202.82. The stock has a market cap of $32.71 billion, a P/E ratio of 61.85, a P/E/G ratio of 2.00 and a beta of 0.74. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90.

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

About Veeva Systems

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.