Teacher Retirement System of Texas Buys 83,826 Shares of Veeva Systems Inc. (NYSE:VEEV)

Teacher Retirement System of Texas raised its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 143.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 142,395 shares of the technology company's stock after buying an additional 83,826 shares during the quarter. Teacher Retirement System of Texas owned 0.09% of Veeva Systems worth $29,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock worth $744,084,000 after acquiring an additional 1,392,256 shares during the last quarter. State Street Corp increased its position in Veeva Systems by 1.5% in the 3rd quarter. State Street Corp now owns 3,293,141 shares of the technology company's stock worth $691,132,000 after purchasing an additional 47,872 shares during the last quarter. FMR LLC raised its stake in shares of Veeva Systems by 25.7% during the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock worth $625,674,000 after purchasing an additional 610,021 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Veeva Systems by 36.0% during the 4th quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after buying an additional 784,741 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Veeva Systems by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,765,236 shares of the technology company's stock valued at $579,630,000 after buying an additional 149,807 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company's stock.

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Veeva Systems Trading Up 0.6 %

VEEV stock traded up $1.37 during trading on Tuesday, hitting $240.41. The company had a trading volume of 1,056,406 shares, compared to its average volume of 1,011,551. The company has a fifty day moving average price of $229.76 and a two-hundred day moving average price of $222.42. Veeva Systems Inc. has a fifty-two week low of $170.25 and a fifty-two week high of $258.93. The company has a market cap of $39.03 billion, a P/E ratio of 59.36, a P/E/G ratio of 1.89 and a beta of 0.88.

Wall Street Analysts Forecast Growth

VEEV has been the subject of a number of analyst reports. Stephens reiterated an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Evercore ISI increased their target price on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an "in-line" rating in a research report on Friday, December 6th. Mizuho began coverage on Veeva Systems in a report on Wednesday, December 4th. They set an "outperform" rating and a $275.00 target price on the stock. Scotiabank boosted their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company lifted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of "Moderate Buy" and an average price target of $256.52.

Veeva Systems 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.