Veeva Systems Inc (NYSE:VEEV) Shares Acquired by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System boosted its holdings in shares of Veeva Systems Inc (NYSE:VEEV) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,198 shares of the technology company’s stock after purchasing an additional 11,284 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.12% of Veeva Systems worth $29,050,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lyell Wealth Management LP lifted its stake in Veeva Systems by 4.1% during the first quarter. Lyell Wealth Management LP now owns 44,550 shares of the technology company’s stock valued at $5,652,000 after purchasing an additional 1,753 shares during the last quarter. First Command Financial Services Inc. acquired a new stake in Veeva Systems during the second quarter valued at approximately $32,000. Victory Capital Management Inc. lifted its stake in Veeva Systems by 82.1% during the first quarter. Victory Capital Management Inc. now owns 605,422 shares of the technology company’s stock valued at $76,804,000 after purchasing an additional 272,909 shares during the last quarter. Davy Asset Management Ltd acquired a new stake in Veeva Systems during the second quarter valued at approximately $263,000. Finally, Swiss National Bank lifted its stake in Veeva Systems by 6.5% during the first quarter. Swiss National Bank now owns 417,800 shares of the technology company’s stock valued at $53,002,000 after purchasing an additional 25,400 shares during the last quarter. 75.99% of the stock is owned by institutional investors and hedge funds.

In other Veeva Systems news, EVP Alan Mateo sold 4,026 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $165.52, for a total value of $666,383.52. Following the completion of the sale, the executive vice president now owns 21,744 shares in the company, valued at approximately $3,599,066.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eleni Nitsa Zuppas sold 3,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $161.08, for a total transaction of $483,240.00. Following the completion of the sale, the insider now owns 13,498 shares of the company’s stock, valued at approximately $2,174,257.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,839 shares of company stock valued at $12,607,413. Insiders own 14.38% of the company’s stock.

Several analysts recently commented on the stock. Morgan Stanley lowered shares of Veeva Systems from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $126.00 to $144.00 in a research note on Friday, May 24th. JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $103.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. DA Davidson upped their price target on shares of Veeva Systems to $165.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Deutsche Bank upped their price target on shares of Veeva Systems from $115.00 to $135.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Finally, KeyCorp upped their price target on shares of Veeva Systems from $133.00 to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $151.50.

Shares of NYSE:VEEV traded up $2.71 during mid-day trading on Friday, hitting $162.23. The stock had a trading volume of 98,301 shares, compared to its average volume of 1,272,754. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.73 and a current ratio of 3.73. The company has a market cap of $23.22 billion, a PE ratio of 130.83, a P/E/G ratio of 7.96 and a beta of 1.39. Veeva Systems Inc has a 12-month low of $79.26 and a 12-month high of $176.90. The company’s 50 day moving average is $166.03 and its 200-day moving average is $143.75.

Veeva Systems (NYSE:VEEV) last released its earnings results on Wednesday, May 29th. The technology company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). Veeva Systems had a return on equity of 17.61% and a net margin of 28.41%. The company had revenue of $244.75 million during the quarter, compared to analysts’ expectations of $238.69 million. During the same quarter in the previous year, the company earned $0.33 EPS. The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. On average, equities research analysts predict that Veeva Systems Inc will post 1.6 EPS for the current fiscal year.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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