Treasurer of the State of North Carolina Purchases 310 Shares of Veeva Systems Inc. (NYSE:VEEV)

Treasurer of the State of North Carolina raised its position in Veeva Systems Inc. (NYSE:VEEV) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 66,602 shares of the technology company’s stock after purchasing an additional 310 shares during the period. Treasurer of the State of North Carolina’s holdings in Veeva Systems were worth $14,003,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Capital Fund Management S.A. increased its stake in Veeva Systems by 67.0% in the fourth quarter. Capital Fund Management S.A. now owns 59,316 shares of the technology company’s stock worth $12,471,000 after purchasing an additional 23,805 shares during the period. Scotia Capital Inc. grew its holdings in shares of Veeva Systems by 1.3% in the fourth quarter. Scotia Capital Inc. now owns 13,919 shares of the technology company’s stock worth $2,929,000 after purchasing an additional 182 shares during the last quarter. Bessemer Group Inc. increased its stake in Veeva Systems by 27.6% in the 4th quarter. Bessemer Group Inc. now owns 2,268 shares of the technology company’s stock worth $477,000 after buying an additional 491 shares during the period. Martingale Asset Management L P lifted its holdings in Veeva Systems by 11.9% during the 4th quarter. Martingale Asset Management L P now owns 4,840 shares of the technology company’s stock valued at $1,018,000 after buying an additional 515 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC boosted its position in Veeva Systems by 28.5% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 44,644 shares of the technology company’s stock valued at $9,386,000 after buying an additional 9,914 shares during the period. Institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Performance

Veeva Systems stock opened at $218.20 on Friday. The stock has a market cap of $35.50 billion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The stock has a 50-day moving average of $229.08 and a two-hundred day moving average of $223.09. Veeva Systems Inc. has a one year low of $170.25 and a one year high of $258.93.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $226.20, for a total transaction of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the sale, the director now owns 5,500 shares of the company’s stock, valued at $1,192,565. The trade was a 41.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the topic of a number of research analyst reports. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and dropped their target price for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Stephens restated an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a report on Thursday, March 6th. JPMorgan Chase & Co. upped their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. Truist Financial raised their price target on Veeva Systems from $210.00 to $217.00 and gave the company a “hold” rating in a research note on Thursday, March 6th. Finally, StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and an average target price of $256.52.

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.