Veeva Systems Inc. (NYSE:VEEV) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 231,275 shares of the technology company’s stock after selling 1,353 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Veeva Systems worth $38,133,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CI Investments Inc. raised its position in shares of Veeva Systems by 964.7% during the 3rd quarter. CI Investments Inc. now owns 181 shares of the technology company’s stock valued at $30,000 after buying an additional 164 shares during the period. City Holding Co. purchased a new stake in Veeva Systems in the third quarter valued at $34,000. Western Pacific Wealth Management LP lifted its stake in shares of Veeva Systems by 11,200.0% in the 3rd quarter. Western Pacific Wealth Management LP now owns 226 shares of the technology company’s stock valued at $37,000 after purchasing an additional 224 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new position in shares of Veeva Systems during the 3rd quarter worth $42,000. Finally, Global Wealth Management Investment Advisory Inc. increased its position in shares of Veeva Systems by 63.9% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 218 shares of the technology company’s stock worth $46,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 78.76% of the company’s stock.

Insider Activity

In related news, Director Matthew J. Wallach sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $159.80, for a total transaction of $1,598,000.00. Following the completion of the sale, the director now owns 2,846 shares in the company, valued at $454,790.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Paul Edward Chamberlain sold 160 shares of the stock in a transaction on Friday, March 10th. The shares were sold at an average price of $169.42, for a total value of $27,107.20. Following the transaction, the director now directly owns 16,776 shares of the company’s stock, valued at approximately $2,842,189.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew J. Wallach sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $159.80, for a total transaction of $1,598,000.00. Following the completion of the sale, the director now directly owns 2,846 shares of the company’s stock, valued at $454,790.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,224 shares of company stock worth $16,003,460. 13.23% of the stock is currently owned by insiders.

Veeva Systems Price Performance

NYSE:VEEV opened at $172.63 on Friday. Veeva Systems Inc. has a 12 month low of $151.02 and a 12 month high of $232.26. The firm has a market capitalization of $26.88 billion, a PE ratio of 57.35, a price-to-earnings-growth ratio of 3.98 and a beta of 0.90. The business’s fifty day moving average price is $169.92 and its 200 day moving average price is $170.46.

Wall Street Analyst Weigh In

A number of research firms have commented on VEEV. Morgan Stanley lowered their target price on shares of Veeva Systems from $190.00 to $181.00 and set an “equal weight” rating for the company in a research note on Friday, January 6th. UBS Group lowered their price objective on shares of Veeva Systems from $200.00 to $190.00 and set a “neutral” rating for the company in a research report on Tuesday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of Veeva Systems in a research report on Thursday, March 2nd. Cowen started coverage on Veeva Systems in a research report on Tuesday, December 6th. They set a “market perform” rating for the company. Finally, Barclays cut their price objective on Veeva Systems from $205.00 to $197.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.39.

About Veeva Systems

(Get Rating)

Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.