Public Employees Retirement System of Ohio Has $13.21 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Public Employees Retirement System of Ohio increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV - Free Report) by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,804 shares of the technology company's stock after purchasing an additional 8,947 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Veeva Systems were worth $13,205,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of VEEV. Leigh Baldwin & CO. LLC acquired a new position in shares of Veeva Systems in the 4th quarter valued at about $685,355,000. Norges Bank purchased a new position in shares of Veeva Systems in the fourth quarter valued at approximately $294,785,000. JPMorgan Chase & Co. boosted its stake in Veeva Systems by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock worth $536,972,000 after purchasing an additional 1,081,501 shares during the last quarter. Wealthfront Advisers LLC grew its stake in Veeva Systems by 29,760.5% during the 4th quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company's stock valued at $220,489,000 after acquiring an additional 1,045,188 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Veeva Systems by 36.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,964,025 shares of the technology company's stock valued at $623,186,000 after purchasing an additional 784,741 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Thomas D. Schwenger sold 1,200 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the transaction, the insider now directly owns 25,889 shares of the company's stock, valued at $5,720,692.33. This represents a 4.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jonathan Faddis sold 787 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares of the company's stock, valued at $1,960,701.60. This represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,869 shares of company stock worth $1,284,917 over the last ninety days. Corporate insiders own 10.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. Piper Sandler lowered their price objective on Veeva Systems from $290.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley lifted their price target on Veeva Systems from $195.00 to $201.00 and gave the stock an "underweight" rating in a research report on Thursday, March 6th. Scotiabank raised their price target on Veeva Systems from $240.00 to $245.00 and gave the stock a "sector perform" rating in a report on Thursday, March 6th. Finally, KeyCorp lowered their target price on shares of Veeva Systems from $260.00 to $250.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Veeva Systems has an average rating of "Moderate Buy" and an average price target of $254.92.

Veeva Systems Stock Performance

Veeva Systems stock traded down $2.69 during trading on Wednesday, reaching $235.37. 2,193,241 shares of the company's stock were exchanged, compared to its average volume of 1,120,842. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $275.06. The company's 50-day moving average is $228.92 and its two-hundred day moving average is $227.22. The firm has a market cap of $38.29 billion, a price-to-earnings ratio of 58.12, a PEG ratio of 1.89 and a beta of 0.96.

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.