Public Employees Retirement System of Ohio Has $19.59 Million Holdings in Veeva Systems Inc. $VEEV

Public Employees Retirement System of Ohio lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,038 shares of the technology company’s stock after selling 2,244 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Veeva Systems were worth $19,594,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Sowell Financial Services LLC acquired a new stake in shares of Veeva Systems in the 1st quarter valued at $274,000. Crossmark Global Holdings Inc. bought a new position in Veeva Systems during the 1st quarter valued at about $299,000. GAMMA Investing LLC boosted its position in Veeva Systems by 13.8% in the first quarter. GAMMA Investing LLC now owns 1,823 shares of the technology company’s stock valued at $422,000 after buying an additional 221 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Veeva Systems during the first quarter worth about $5,876,000. Finally, Private Trust Co. NA increased its holdings in shares of Veeva Systems by 35.0% during the first quarter. Private Trust Co. NA now owns 247 shares of the technology company’s stock worth $57,000 after buying an additional 64 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Transactions at Veeva Systems

In other news, Director Priscilla Hung sold 172 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $283.00, for a total value of $48,676.00. Following the transaction, the director owned 4,137 shares of the company’s stock, valued at approximately $1,170,771. This trade represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $285.62, for a total transaction of $205,646.40. Following the sale, the senior vice president directly owned 7,902 shares of the company’s stock, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,063 shares of company stock worth $302,955. Corporate insiders own 10.30% of the company’s stock.

Veeva Systems Stock Up 0.8%

Veeva Systems stock opened at $280.08 on Friday. The business’s 50-day simple moving average is $280.59 and its 200 day simple moving average is $260.19. The stock has a market cap of $45.91 billion, a price-to-earnings ratio of 57.51, a P/E/G ratio of 2.15 and a beta of 0.95. Veeva Systems Inc. has a 12-month low of $200.30 and a 12-month high of $296.72.

Analyst Upgrades and Downgrades

VEEV has been the topic of several recent analyst reports. KeyCorp boosted their target price on Veeva Systems from $285.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. JPMorgan Chase & Co. upgraded Veeva Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $290.00 to $330.00 in a research report on Monday, September 8th. Canaccord Genuity Group increased their target price on Veeva Systems from $270.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, August 28th. Raymond James Financial reaffirmed an “outperform” rating and issued a $340.00 price target (up from $310.00) on shares of Veeva Systems in a report on Thursday, August 28th. Finally, Needham & Company LLC upped their price target on shares of Veeva Systems from $300.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Seventeen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.48.

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.