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

New York State Teachers Retirement System bought a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, Holdings Channel reports. The institutional investor bought 5,306 shares of the technology company’s stock, valued at approximately $1,022,000.

Several other large investors have also recently bought and sold shares of the business. Arkadios Wealth Advisors increased its holdings in Veeva Systems by 4.6% in the fourth quarter. Arkadios Wealth Advisors now owns 2,735 shares of the technology company’s stock valued at $527,000 after buying an additional 120 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Veeva Systems by 16,580.5% in the fourth quarter. International Assets Investment Management LLC now owns 187,322 shares of the technology company’s stock valued at $36,063,000 after buying an additional 186,199 shares during the last quarter. Liberty Capital Management Inc. grew its holdings in shares of Veeva Systems by 8.1% during the fourth quarter. Liberty Capital Management Inc. now owns 4,832 shares of the technology company’s stock worth $930,000 after purchasing an additional 361 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Veeva Systems by 1.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 59,515 shares of the technology company’s stock worth $11,547,000 after purchasing an additional 984 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Veeva Systems by 4.1% during the fourth quarter. Arizona State Retirement System now owns 42,941 shares of the technology company’s stock worth $8,267,000 after purchasing an additional 1,693 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on VEEV shares. Barclays raised their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Jefferies Financial Group raised their price objective on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Stifel Nicolaus raised their price objective on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, March 1st. The Goldman Sachs Group raised their price objective on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Truist Financial raised their price objective on Veeva Systems from $187.00 to $203.00 and gave the stock a “hold” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $234.90.

Veeva Systems Stock Down 0.6 %

Shares of NYSE:VEEV opened at $199.18 on Thursday. The company has a market cap of $32.13 billion, a P/E ratio of 61.86, a PEG ratio of 2.04 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. The company has a 50-day moving average price of $221.86 and a 200 day moving average price of $202.84.

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

Insider Activity at Veeva Systems

In other news, COO Thomas D. Schwenger sold 1,238 shares of Veeva Systems stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $210.02, for a total transaction of $260,004.76. Following the completion of the sale, the chief operating officer now directly owns 24,342 shares in the company, valued at approximately $5,112,306.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the sale, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas D. Schwenger sold 1,238 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $210.02, for a total value of $260,004.76. Following the sale, the chief operating officer now directly owns 24,342 shares in the company, valued at approximately $5,112,306.84. The disclosure for this sale can be found here. Insiders sold a total of 19,836 shares of company stock worth $4,396,902 over the last 90 days. Company insiders own 10.98% of the company’s stock.

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.