Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,095 shares of the technology company’s stock after acquiring an additional 4,218 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Veeva Systems worth $16,768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VEEV. OFI Invest Asset Management acquired a new stake in shares of Veeva Systems in the 3rd quarter worth $25,000. Operose Advisors LLC acquired a new stake in shares of Veeva Systems in the 3rd quarter worth $29,000. Parkside Financial Bank & Trust increased its stake in shares of Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after acquiring an additional 77 shares during the last quarter. Atticus Wealth Management LLC increased its stake in shares of Veeva Systems by 500.0% in the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after acquiring an additional 150 shares during the last quarter. Finally, Nkcfo LLC increased its stake in shares of Veeva Systems by 54.7% in the 3rd quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock worth $47,000 after acquiring an additional 82 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VEEV shares. Citigroup raised their price objective on Veeva Systems from $240.00 to $264.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a research report on Wednesday, March 27th. Oppenheimer reissued an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a research report on Thursday, February 22nd. Barclays raised their price objective on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Finally, Raymond James reissued an “outperform” rating and set a $260.00 price objective on shares of Veeva Systems in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $234.90.

Veeva Systems Trading Down 0.7 %

VEEV stock traded down $1.42 during trading on Thursday, hitting $199.10. 715,279 shares of the company’s stock were exchanged, compared to its average volume of 972,336. The business has a 50-day moving average price of $220.12 and a two-hundred day moving average price of $202.74. The stock has a market capitalization of $32.12 billion, a price-to-earnings ratio of 62.29, a PEG ratio of 2.03 and a beta of 0.74. Veeva Systems Inc. has a 52-week low of $160.21 and a 52-week high of $236.90.

Veeva Systems (NYSE:VEEV) last posted its earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. The firm had revenue of $630.62 million during the quarter, compared to analysts’ expectations of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. On average, equities research analysts anticipate that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of Veeva Systems stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total transaction of $681,116.26. Following the transaction, the executive vice president now owns 21,983 shares of the company’s stock, valued at $4,415,505.38. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Jonathan Faddis sold 3,598 shares of the business’s stock in a transaction that occurred on 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 owns 10,668 shares of the company’s stock, valued at $2,212,756.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $200.86, for a total value of $681,116.26. Following the completion of the transaction, the executive vice president now directly owns 21,983 shares in the company, valued at approximately $4,415,505.38. The disclosure for this sale can be found here. Insiders have sold a total of 21,989 shares of company stock valued at $4,818,013 over the last quarter. Company insiders own 10.98% of the company’s stock.

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.