Public Employees Retirement System of Ohio Sells 11,015 Shares of Veeva Systems Inc. (NYSE:VEEV)

Public Employees Retirement System of Ohio trimmed its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 17.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,857 shares of the technology company's stock after selling 11,015 shares during the period. Public Employees Retirement System of Ohio's holdings in Veeva Systems were worth $11,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Veeva Systems during the 3rd quarter valued at about $26,000. True Wealth Design LLC boosted its holdings in shares of Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company's stock worth $29,000 after purchasing an additional 135 shares during the period. Blue Trust Inc. grew its position in Veeva Systems by 3,460.0% during 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 in the last quarter. DT Investment Partners LLC acquired a new position in Veeva Systems in the 2nd quarter valued at approximately $35,000. Finally, Fairscale Capital LLC acquired a new position in Veeva Systems in the 2nd quarter valued at approximately $46,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the sale, the insider now directly owns 27,013 shares of the company's stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares of the company's stock, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VEEV. Truist Financial reissued a "hold" rating and set a $261.00 target price (up previously from $207.00) on shares of Veeva Systems in a research note on Friday, December 6th. Barclays boosted their target price on Veeva Systems from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Needham & Company LLC boosted their target price on shares of Veeva Systems from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Stifel Nicolaus raised their price target on Veeva Systems from $240.00 to $272.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Veeva Systems from $203.00 to $208.00 and gave the stock a "neutral" rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen 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 target price of $255.35.

Veeva Systems Stock Down 0.6 %

VEEV traded down $1.37 during midday trading on Thursday, reaching $232.48. 1,090,086 shares of the company's stock were exchanged, compared to its average volume of 983,861. The business has a 50-day simple moving average of $220.31 and a two-hundred day simple moving average of $203.63. The firm has a market capitalization of $37.65 billion, a price-to-earnings ratio of 57.82, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

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.