State of New Jersey Common Pension Fund D Raises Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

State of New Jersey Common Pension Fund D boosted its holdings in Veeva Systems Inc. (NYSE:VEEV) by 5.1% in the fourth quarter, HoldingsChannel reports. The firm owned 87,095 shares of the technology company’s stock after purchasing an additional 4,218 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Veeva Systems were worth $16,768,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in Veeva Systems during the 3rd quarter worth approximately $25,000. Operose Advisors LLC bought a new position in Veeva Systems during the 3rd quarter worth approximately $29,000. Parkside Financial Bank & Trust lifted its holdings in Veeva Systems by 81.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock worth $35,000 after buying an additional 77 shares during the last quarter. Atticus Wealth Management LLC lifted its holdings in Veeva Systems by 500.0% during the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after buying an additional 150 shares during the last quarter. Finally, Nkcfo LLC lifted its holdings in Veeva Systems by 54.7% during the 3rd quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock worth $47,000 after buying an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now owns 21,983 shares in the company, valued at $4,415,505.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Veeva Systems news, EVP Alan Mateo sold 3,391 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.86, for a total value of $681,116.26. Following the transaction, the executive vice president now owns 21,983 shares in the company, valued at $4,415,505.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $226.04, for a total value of $3,390,600.00. Following the completion of the sale, the director now directly owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock worth $4,818,013 over the last 90 days. 10.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VEEV. KeyCorp increased their target price on Veeva Systems from $232.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Barclays increased their price target on Veeva Systems from $240.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Stifel Nicolaus increased their price target on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. increased their price target on Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Finally, Robert W. Baird increased their price target on Veeva Systems from $245.00 to $251.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

Veeva Systems Stock Down 0.7 %

Shares of Veeva Systems stock traded down $1.42 during midday trading on Thursday, hitting $199.10. The company’s stock had a trading volume of 715,279 shares, compared to its average volume of 972,336. The firm has a market capitalization of $32.12 billion, a P/E ratio of 62.29, a PEG ratio of 2.03 and a beta of 0.74. The stock has a 50-day simple moving average of $220.12 and a 200-day simple moving average of $202.74. Veeva Systems Inc. has a 1-year low of $160.21 and a 1-year high of $236.90.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.81 by $0.11. The business 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%. As a group, sell-side analysts predict that Veeva Systems Inc. will post 4.11 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.