Veeva Systems Inc. (NYSE:VEEV) Stake Lowered by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lessened its holdings in Veeva Systems Inc. (NYSE:VEEV) by 1.2% in the 1st quarter, Holdings Channel reports. The firm owned 21,900 shares of the technology company’s stock after selling 255 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Veeva Systems were worth $5,074,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems during the first quarter worth approximately $28,000. DSM Capital Partners LLC bought a new position in Veeva Systems in the fourth quarter valued at $29,000. First Financial Corp IN bought a new position in Veeva Systems in the first quarter valued at $35,000. Larson Financial Group LLC grew its position in Veeva Systems by 1,153.8% in the first 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. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of Veeva Systems in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VEEV. Guggenheim lifted their price objective on shares of Veeva Systems from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. BTIG Research started coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price objective for the company. Evercore ISI cut their price objective on shares of Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a report on Friday, May 31st. Truist Financial cut their price objective on shares of Veeva Systems from $203.00 to $197.00 and set a “hold” rating for the company in a report on Friday, June 14th. Finally, Stifel Nicolaus cut their price target on shares of Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $228.27.

Insider Buying and Selling at Veeva Systems

In other news, CFO Timothy S. Cabral sold 15,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were 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 directly owns 8,391 shares of the company’s stock, valued at approximately $1,546,713.03. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 10.50% of the company’s stock.

Veeva Systems Stock Down 0.9 %

NYSE VEEV traded down $1.75 on Monday, hitting $190.68. The company’s stock had a trading volume of 375,119 shares, compared to its average volume of 985,563. Veeva Systems Inc. has a 1-year low of $162.72 and a 1-year high of $236.90. The company’s 50-day moving average is $187.20 and its 200 day moving average is $204.73. The firm has a market cap of $30.82 billion, a PE ratio of 56.76, a PEG ratio of 1.89 and a beta of 0.80.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, May 30th. The technology company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.10. Veeva Systems had a net margin of 22.34% and a return on equity of 12.74%. The firm had revenue of $650.35 million during the quarter, compared to analysts’ expectations of $641.73 million. On average, equities analysts expect that Veeva Systems Inc. will post 4.19 EPS 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.