Veeva Systems Inc. (NYSE:VEEV) Position Cut by National Pension Service

National Pension Service reduced its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,658 shares of the technology company's stock after selling 9,112 shares during the period. National Pension Service owned 0.13% of Veeva Systems worth $44,840,000 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 stock. Advisors Asset Management Inc. purchased a new position in shares of Veeva Systems during the first quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems during the 3rd quarter worth $26,000. Larson Financial Group LLC boosted its holdings in shares of Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company's stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Blue Trust Inc. grew its position in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock valued at $33,000 after purchasing an additional 173 shares during the period. Finally, DT Investment Partners LLC acquired a new position in Veeva Systems in the second quarter valued at $35,000. Hedge funds and other institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VEEV. StockNews.com lowered Veeva Systems from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Raymond James raised their target price on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $260.00 price target on shares of Veeva Systems in a research report on Thursday, August 29th. Bank of America increased their price target on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday, August 29th. Finally, Piper Sandler boosted their price objective on shares of Veeva Systems from $225.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Veeva Systems currently has an average rating of "Moderate Buy" and an average price target of $232.87.

Insider Transactions at Veeva Systems

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction on Wednesday, August 21st. The shares were 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 of the company's stock, valued at $1,807,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 10.50% of the company's stock.

Veeva Systems Price Performance

Shares of NYSE:VEEV traded up $6.94 during midday trading on Thursday, reaching $223.39. The company had a trading volume of 1,188,290 shares, compared to its average volume of 936,503. The stock has a market capitalization of $36.17 billion, a P/E ratio of 59.39, a PEG ratio of 2.07 and a beta of 0.81. The stock's fifty day moving average price is $213.48 and its 200-day moving average price is $199.34. Veeva Systems Inc. has a one year low of $162.72 and a one year high of $236.90.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. As a group, sell-side analysts forecast that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

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.