National Pension Service Sells 9,112 Shares of Veeva Systems Inc. (NYSE:VEEV)

National Pension Service trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 213,658 shares of the technology company’s stock after selling 9,112 shares during the quarter. National Pension Service’s holdings in Veeva Systems were worth $44,840,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems in the first quarter worth about $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Veeva Systems in the 3rd quarter worth about $26,000. Larson Financial Group LLC raised its stake in shares of Veeva Systems by 1,153.8% during the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the period. Finally, DT Investment Partners LLC bought a new position in Veeva Systems in the second quarter worth approximately $35,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.50% of the company’s stock.

Veeva Systems Stock Up 1.8 %

Veeva Systems stock opened at $216.45 on Thursday. Veeva Systems Inc. has a 52 week low of $162.72 and a 52 week high of $236.90. The company has a market capitalization of $35.05 billion, a price-to-earnings ratio of 57.72, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81. The stock has a 50-day moving average price of $213.48 and a 200 day moving average price of $199.34.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. Research analysts anticipate that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BNP Paribas initiated coverage on Veeva Systems in a report on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 target price for the company. Bank of America upped their price objective on shares of Veeva Systems from $204.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Barclays raised their target price on shares of Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. StockNews.com downgraded shares of Veeva Systems from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, TD Cowen raised their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $232.87.

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.