National Pension Service Has $42.19 Million Holdings in Veeva Systems Inc. (NYSE:VEEV)

National Pension Service lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,641 shares of the technology company’s stock after selling 13,017 shares during the quarter. National Pension Service’s holdings in Veeva Systems were worth $42,185,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its stake in Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after acquiring an additional 50 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in Veeva Systems during the fourth quarter worth about $25,000. True Wealth Design LLC raised its stake in Veeva Systems by 3,375.0% during the third quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock worth $29,000 after acquiring an additional 135 shares in the last quarter. Avion Wealth raised its stake in Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after acquiring an additional 127 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Veeva Systems during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VEEV shares. Stephens started coverage on Veeva Systems in a research note on Friday, December 20th. They set an “overweight” rating and a $280.00 target price for the company. Scotiabank boosted their target price on Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. Citigroup upped their price objective on Veeva Systems from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Stifel Nicolaus upped their price objective on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Barclays upped their price objective on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems has a consensus rating of “Moderate Buy” and an average price target of $255.08.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.50% of the company’s stock.

Veeva Systems Stock Performance

Veeva Systems stock opened at $224.33 on Friday. The stock has a market capitalization of $36.42 billion, a price-to-earnings ratio of 55.39, a PEG ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 52-week low of $170.25 and a 52-week high of $258.93. The stock’s 50 day moving average price is $223.85 and its two-hundred day moving average price is $218.75.

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.