California State Teachers Retirement System raised its position in Veeva Systems Inc (NYSE:VEEV) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 201,029 shares of the technology company’s stock after acquiring an additional 9,106 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Veeva Systems worth $17,956,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of VEEV. BlackRock Inc. lifted its holdings in Veeva Systems by 18.6% in the third quarter. BlackRock Inc. now owns 7,710,493 shares of the technology company’s stock valued at $839,440,000 after acquiring an additional 1,207,291 shares during the period. Winslow Capital Management LLC raised its stake in shares of Veeva Systems by 25.1% in the third quarter. Winslow Capital Management LLC now owns 2,136,138 shares of the technology company’s stock worth $232,561,000 after buying an additional 428,945 shares during the period. Franklin Resources Inc. raised its stake in shares of Veeva Systems by 60.2% in the third quarter. Franklin Resources Inc. now owns 1,138,399 shares of the technology company’s stock worth $123,929,000 after buying an additional 427,677 shares during the period. FMR LLC raised its stake in shares of Veeva Systems by 10.8% in the third quarter. FMR LLC now owns 3,626,043 shares of the technology company’s stock worth $394,767,000 after buying an additional 352,026 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Veeva Systems by 238.9% in the third quarter. Canada Pension Plan Investment Board now owns 473,500 shares of the technology company’s stock worth $51,550,000 after buying an additional 333,800 shares during the period. 77.73% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on VEEV shares. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Saturday, February 9th. Barclays started coverage on Veeva Systems in a research note on Wednesday, February 20th. They issued an “equal weight” rating and a $130.00 price objective on the stock. DA Davidson raised their price objective on Veeva Systems to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Leerink Swann assumed coverage on Veeva Systems in a research note on Tuesday, December 4th. They issued an “outperform” rating and a $120.00 price objective on the stock. Finally, JMP Securities increased their target price on Veeva Systems from $108.00 to $122.00 and gave the stock a “market outperform” rating in a research report on Wednesday, February 27th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $117.65.

NYSE VEEV opened at $122.36 on Friday. The company has a market cap of $17.78 billion, a price-to-earnings ratio of 98.68, a PEG ratio of 5.24 and a beta of 1.72. Veeva Systems Inc has a 1-year low of $68.11 and a 1-year high of $124.00.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Tuesday, February 26th. The technology company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The business had revenue of $232.32 million during the quarter, compared to analysts’ expectations of $227.15 million. Veeva Systems had a return on equity of 17.65% and a net margin of 26.66%. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. As a group, equities research analysts expect that Veeva Systems Inc will post 1.54 earnings per share for the current fiscal year.

In other news, EVP Alan Mateo sold 1,768 shares of Veeva Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $120.00, for a total value of $212,160.00. Following the completion of the transaction, the executive vice president now owns 23,478 shares in the company, valued at approximately $2,817,360. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Timothy S. Cabral sold 48,765 shares of Veeva Systems stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $113.91, for a total value of $5,554,821.15. Following the completion of the transaction, the chief financial officer now owns 23,074 shares of the company’s stock, valued at approximately $2,628,359.34. The disclosure for this sale can be found here. Insiders have sold a total of 164,925 shares of company stock valued at $17,164,996 in the last 90 days. 15.97% of the stock is currently owned by company insiders.

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Veeva Systems Profile

Veeva Systems, Inc engages in the provision of industry-specific, cloud-based software solutions for the life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

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

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