Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 6.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,664 shares of the technology company's stock after purchasing an additional 1,844 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Veeva Systems were worth $6,027,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VEEV. Principal Financial Group Inc. raised its position in shares of Veeva Systems by 138.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the last quarter. Smith Group Asset Management LLC increased its position in Veeva Systems by 2.2% during the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company's stock worth $17,360,000 after buying an additional 1,749 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Veeva Systems in the fourth quarter worth $816,000. Venturi Wealth Management LLC lifted its position in shares of Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after acquiring an additional 163 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Veeva Systems by 21.6% during the fourth quarter. Nordea Investment Management AB now owns 261,131 shares of the technology company's stock valued at $55,073,000 after acquiring an additional 46,440 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Up 2.7 %

VEEV opened at $215.85 on Wednesday. The firm's 50 day moving average is $226.48 and its 200-day moving average is $223.57. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The firm has a market capitalization of $35.12 billion, a P/E ratio of 53.30, a P/E/G ratio of 1.89 and a beta of 1.05.

Insider Buying and Selling

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total value of $841,734.06. Following the transaction, the director now directly owns 5,500 shares of the company's stock, valued at $1,192,565. This represents a 41.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now directly owns 8,668 shares of the company's stock, valued at $1,960,701.60. The trade was a 8.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock valued at $1,284,917 in the last quarter. Company insiders own 10.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on VEEV shares. The Goldman Sachs Group downgraded shares of Veeva Systems from a "buy" rating to a "sell" rating and cut their target price for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Stephens reaffirmed an "overweight" rating and issued a $280.00 target price on shares of Veeva Systems in a research note on Thursday, March 6th. Morgan Stanley increased their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research note on Thursday, March 6th. Finally, Robert W. Baird lifted their price objective on Veeva Systems from $283.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $256.32.

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.

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