Public Employees Retirement System of Ohio Has $15.29 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

Public Employees Retirement System of Ohio trimmed its stake in Veeva Systems Inc. (NYSE:VEEV) by 10.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,007 shares of the technology company’s stock after selling 7,570 shares during the period. Public Employees Retirement System of Ohio’s holdings in Veeva Systems were worth $15,293,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of VEEV. Vanguard Group Inc. increased its stake in shares of Veeva Systems by 7.5% in the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock valued at $3,278,430,000 after buying an additional 991,208 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Veeva Systems by 6.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,167,960 shares of the technology company’s stock worth $417,376,000 after acquiring an additional 122,546 shares in the last quarter. Van ECK Associates Corp increased its holdings in Veeva Systems by 9.0% in the first quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock worth $448,123,000 after purchasing an additional 159,085 shares in the last quarter. Norges Bank acquired a new position in shares of Veeva Systems during the fourth quarter worth approximately $305,543,000. Finally, TD Asset Management Inc raised its holdings in shares of Veeva Systems by 17.5% in the 1st quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock worth $284,335,000 after acquiring an additional 182,762 shares during the last quarter. 88.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on VEEV. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Veeva Systems in a report on Monday, July 15th. Robert W. Baird increased their price target on Veeva Systems from $251.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, May 29th. Guggenheim raised their price objective on Veeva Systems from $211.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Stifel Nicolaus reduced their target price on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Finally, Truist Financial dropped their price target on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating on the stock in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $228.27.

Insider Activity

In related news, CFO Timothy S. Cabral sold 15,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $184.33, for a total value of $2,764,950.00. Following the sale, the chief financial officer now owns 8,391 shares in the company, valued at $1,546,713.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Up 1.5 %

VEEV traded up $2.83 during trading on Tuesday, reaching $194.50. 19,315 shares of the company were exchanged, compared to its average volume of 980,645. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The company’s 50-day moving average is $186.84 and its two-hundred day moving average is $204.65. The company has a market cap of $31.44 billion, a price-to-earnings ratio of 56.54, a P/E/G ratio of 1.89 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, May 30th. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.10. The company had revenue of $650.35 million during the quarter, compared to analyst estimates of $641.73 million. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. Equities analysts forecast that Veeva Systems Inc. will post 4.19 earnings per share for the current 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.