Strs Ohio Invests $11.63 Million in Veeva Systems Inc. $VEEV

Key Points

• Strs Ohio has invested approximately $11.63 million in Veeva Systems Inc. by purchasing 50,200 shares during the first quarter.
• Veeva Systems' stock has experienced a range in the past year, with a 52-week low of $200.30 and a high of $296.72, and currently trades at around $276.21.
• Several equities analysts have recently upgraded their ratings for Veeva Systems, with targets ranging from $300 to $349, reflecting a generally positive outlook for the company.

Strs Ohio bought a new position in Veeva Systems Inc. (NYSE:VEEV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,200 shares of the technology company's stock, valued at approximately $11,628,000.

A number of other large investors have also recently bought and sold shares of VEEV. Abound Financial LLC bought a new stake in shares of Veeva Systems during the first quarter valued at approximately $25,000. ORG Partners LLC acquired a new position in Veeva Systems in the first quarter worth approximately $26,000. Golden State Wealth Management LLC grew its position in Veeva Systems by 152.9% in the first quarter. Golden State Wealth Management LLC now owns 129 shares of the technology company's stock worth $30,000 after buying an additional 78 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Veeva Systems in the 1st quarter worth approximately $32,000. Finally, Key Financial Inc boosted its stake in Veeva Systems by 161.0% in the 1st quarter. Key Financial Inc now owns 154 shares of the technology company's stock worth $36,000 after purchasing an additional 95 shares during the period. Institutional investors own 88.20% of the company's stock.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $276.21 on Friday. Veeva Systems Inc. has a 52 week low of $200.30 and a 52 week high of $296.72. The company has a market capitalization of $45.27 billion, a PE ratio of 56.72, a PEG ratio of 2.17 and a beta of 0.95. The company has a 50 day moving average price of $281.13 and a two-hundred day moving average price of $257.33.

Insider Buying and Selling at Veeva Systems

In other news, SVP Jonathan Faddis sold 720 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $285.62, for a total transaction of $205,646.40. Following the completion of the sale, the senior vice president owned 7,902 shares in the company, valued at approximately $2,256,969.24. This trade represents a 8.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Priscilla Hung sold 171 shares of Veeva Systems stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $284.40, for a total transaction of $48,632.40. Following the completion of the sale, the director owned 3,966 shares of the company's stock, valued at $1,127,930.40. This trade represents a 4.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,063 shares of company stock valued at $302,955 in the last three months. 10.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Canaccord Genuity Group boosted their price target on shares of Veeva Systems from $270.00 to $300.00 and gave the company a "hold" rating in a report on Thursday, August 28th. Stifel Nicolaus boosted their target price on shares of Veeva Systems from $295.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. Oppenheimer restated an "outperform" rating and set a $325.00 price objective on shares of Veeva Systems in a report on Thursday, August 28th. Wall Street Zen upgraded shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Citigroup upped their target price on shares of Veeva Systems from $329.00 to $349.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Veeva Systems presently has an average rating of "Moderate Buy" and a consensus target price of $301.48.

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.

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