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

New York State Common Retirement Fund trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 270,605 shares of the technology company’s stock after selling 22,091 shares during the period. New York State Common Retirement Fund owned 0.17% of Veeva Systems worth $56,895,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. General American Investors Co. Inc. acquired a new position in Veeva Systems during the 3rd quarter valued at about $5,133,000. Toronto Dominion Bank boosted its stake in Veeva Systems by 39.1% during the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after purchasing an additional 5,673 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Veeva Systems by 3.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after acquiring an additional 2,733 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Veeva Systems by 46.4% in the 3rd quarter. Assetmark Inc. now owns 48,205 shares of the technology company’s stock worth $10,117,000 after acquiring an additional 15,289 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Veeva Systems stock opened at $229.25 on Thursday. The firm has a market cap of $37.22 billion, a PE ratio of 56.61, a P/E/G ratio of 1.93 and a beta of 0.85. The firm’s 50 day moving average price is $223.98 and its two-hundred day moving average price is $216.94. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VEEV. JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $208.00 to $218.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Stifel Nicolaus upped their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Piper Sandler upped their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Mizuho began coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target for the company. Finally, Bank of America upped their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.96.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 10.50% of the company’s stock.

Veeva Systems Company 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.