New York State Common Retirement Fund Sells 93,789 Shares of Veeva Systems Inc. (NYSE:VEEV)

New York State Common Retirement Fund decreased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 24.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,696 shares of the technology company’s stock after selling 93,789 shares during the quarter. New York State Common Retirement Fund owned approximately 0.18% of Veeva Systems worth $61,428,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems in the 3rd quarter valued at about $26,000. Advisors Asset Management Inc. bought a new stake in shares of Veeva Systems in the 1st quarter valued at about $28,000. Blue Trust Inc. raised its holdings in shares of Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC bought a new stake in shares of Veeva Systems in the 2nd quarter valued at about $35,000. Finally, Larson Financial Group LLC raised its holdings in shares of Veeva Systems by 1,153.8% in the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VEEV shares. BTIG Research began coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price target for the company. Citigroup lifted their price objective on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. StockNews.com downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, BNP Paribas began coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $232.87.

Veeva Systems Trading Up 1.9 %

Shares of VEEV opened at $212.80 on Friday. The firm has a market cap of $34.46 billion, a PE ratio of 56.75, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81. The company’s 50 day simple moving average is $212.62 and its 200-day simple moving average is $199.04. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. The company had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. As a group, equities research analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

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.