New York State Common Retirement Fund Has $99.80 Million Position in Veeva Systems Inc. (NYSE:VEEV)

New York State Common Retirement Fund cut its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 518,396 shares of the technology company’s stock after selling 80,227 shares during the period. New York State Common Retirement Fund’s holdings in Veeva Systems were worth $99,802,000 at the end of the most recent quarter.

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

Veeva Systems Price Performance

Shares of VEEV stock traded up $3.69 on Tuesday, hitting $202.75. The stock had a trading volume of 275,145 shares, compared to its average volume of 972,824. The business has a 50 day moving average of $220.78 and a 200 day moving average of $202.82. The stock has a market cap of $32.71 billion, a price-to-earnings ratio of 61.85, a price-to-earnings-growth ratio of 2.00 and a beta of 0.74. Veeva Systems Inc. has a 12-month low of $160.21 and a 12-month high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $620.75 million. As a group, research analysts expect that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price target on shares of Veeva Systems in a report on Thursday, February 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a research report on Wednesday, March 27th. Truist Financial upped their price target on shares of Veeva Systems from $187.00 to $203.00 and gave the company a “hold” rating in a research report on Friday, March 1st. Stifel Nicolaus upped their price objective on shares of Veeva Systems from $205.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, The Goldman Sachs Group upped their price objective on shares of Veeva Systems from $219.00 to $248.00 and gave the company a “buy” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $234.90.

Insider Buying and Selling

In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the company’s 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 transaction, the senior vice president now directly owns 10,668 shares in the company, valued at approximately $2,212,756.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of the company’s 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 transaction, the director now directly owns 23,391 shares in the company, 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, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the transaction, the senior vice president now owns 10,668 shares in the company, valued at $2,212,756.56. The disclosure for this sale can be found here. 10.98% of the stock is currently owned by insiders.

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.