Strs Ohio Lowers Position in Veeva Systems Inc. (NYSE:VEEV)

Strs Ohio lessened its holdings in Veeva Systems Inc. (NYSE:VEEV) by 39.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,037 shares of the technology company’s stock after selling 96,163 shares during the period. Strs Ohio owned 0.09% of Veeva Systems worth $28,307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vontobel Holding Ltd. raised its position in shares of Veeva Systems by 1.2% in the fourth quarter. Vontobel Holding Ltd. now owns 28,760 shares of the technology company’s stock worth $5,537,000 after buying an additional 341 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Veeva Systems by 2.7% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 397,223 shares of the technology company’s stock valued at $76,473,000 after purchasing an additional 10,316 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in Veeva Systems during the fourth quarter valued at about $2,668,000. Shaker Investments LLC OH purchased a new stake in Veeva Systems during the fourth quarter valued at about $801,000. Finally, Perigon Wealth Management LLC raised its position in Veeva Systems by 4.5% during the fourth quarter. Perigon Wealth Management LLC now owns 2,232 shares of the technology company’s stock valued at $430,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems 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 directly owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction, the chief operating officer now directly owns 24,342 shares in the company, valued at $5,112,306.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the transaction, the director now owns 23,391 shares of the company’s stock, valued at $5,287,301.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,148 shares of company stock valued at $3,836,900. 10.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

VEEV has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Veeva Systems in a research report on Tuesday, April 2nd. Robert W. Baird raised their price target on Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Jefferies Financial Group raised their price target on Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Oppenheimer restated an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $234.90.

Veeva Systems Price Performance

NYSE VEEV opened at $201.62 on Tuesday. The stock has a market capitalization of $32.53 billion, a PE ratio of 62.61, a PEG ratio of 2.09 and a beta of 0.74. Veeva Systems Inc. has a 1 year low of $160.21 and a 1 year high of $236.90. The business’s 50-day moving average is $222.35 and its 200 day moving average is $202.89.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.11. The business had revenue of $630.62 million for the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. As a group, equities research analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current 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.