California State Teachers Retirement System Decreases Stock Position in Veeva Systems Inc. (NYSE:VEEV)

California State Teachers Retirement System lessened its holdings in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 250,138 shares of the technology company's stock after selling 6,816 shares during the period. California State Teachers Retirement System owned 0.15% of Veeva Systems worth $52,592,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Centricity Wealth Management LLC bought a new position in Veeva Systems during the fourth quarter worth about $25,000. Smithfield Trust Co raised its position in Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after buying an additional 80 shares during the last quarter. Avion Wealth raised its position in Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company's stock valued at $30,000 after buying an additional 127 shares during the last quarter. Venturi Wealth Management LLC raised its position in Veeva Systems by 2,716.7% in the 4th quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company's stock valued at $36,000 after buying an additional 163 shares during the last quarter. Finally, Promus Capital LLC acquired a new position in shares of Veeva Systems during the 4th quarter worth approximately $36,000. Institutional investors own 88.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stephens reaffirmed an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Wall Street Zen upgraded Veeva Systems from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Piper Sandler lifted their price objective on Veeva Systems from $255.00 to $325.00 and gave the company an "overweight" rating in a report on Thursday. 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 report on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their price objective on Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, Veeva Systems presently has a consensus rating of "Moderate Buy" and an average price target of $269.00.

Insiders Place Their Bets

In other news, Director Timothy S. Cabral sold 3,882 shares of the firm'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 owns 5,500 shares in the company, valued at $1,192,565. This trade represents a 41.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,869 shares of company stock worth $1,284,917. Corporate insiders own 10.30% of the company's stock.

Veeva Systems Stock Performance

Shares of VEEV stock traded up $0.99 on Friday, hitting $280.03. The company had a trading volume of 3,578,987 shares, compared to its average volume of 1,147,282. The stock's 50-day moving average is $229.69 and its two-hundred day moving average is $227.56. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $285.70. The firm has a market cap of $45.56 billion, a P/E ratio of 69.14, a P/E/G ratio of 1.89 and a beta of 0.96.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The business had revenue of $759.04 million during the quarter, compared to analysts' expectations of $728.38 million. During the same quarter last year, the firm posted $1.50 earnings per share. The firm's revenue was up 16.7% on a year-over-year basis. Equities research analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current year.

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.