Veeva Systems Inc. (NYSE:VEEV) Stake Raised by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,845 shares of the technology company’s stock after purchasing an additional 128 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Veeva Systems were worth $11,741,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. General American Investors Co. Inc. purchased a new position in Veeva Systems during the third quarter valued at approximately $5,133,000. Toronto Dominion Bank grew its holdings in shares of Veeva Systems by 39.1% during the 3rd quarter. Toronto Dominion Bank now owns 20,180 shares of the technology company’s stock valued at $4,235,000 after acquiring an additional 5,673 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Veeva Systems by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock worth $16,370,000 after acquiring an additional 2,733 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Veeva Systems by 46.4% during the third quarter. Assetmark Inc. now owns 48,205 shares of the technology company’s stock valued at $10,117,000 after purchasing an additional 15,289 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity

In other news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction that occurred 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 in the company, valued at approximately $1,856,448.30. The trade was a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group lowered 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 report on Thursday, January 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 target price on shares of Veeva Systems in a research note on Friday, January 17th. Stifel Nicolaus boosted their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Evercore ISI boosted their price objective on Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $253.96.

Veeva Systems Price Performance

Shares of VEEV stock opened at $234.09 on Tuesday. The stock’s fifty day simple moving average is $224.48 and its 200 day simple moving average is $216.29. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93. The firm has a market cap of $38.00 billion, a price-to-earnings ratio of 57.80, a P/E/G ratio of 1.97 and a beta of 0.85.

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.