Teacher Retirement System of Texas Raises Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Teacher Retirement System of Texas increased its position in Veeva Systems Inc. (NYSE:VEEV) by 143.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 142,395 shares of the technology company’s stock after purchasing an additional 83,826 shares during the period. Teacher Retirement System of Texas’ holdings in Veeva Systems were worth $29,939,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VEEV. Principal Financial Group Inc. grew its stake in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after purchasing an additional 1,267,061 shares during the period. OneDigital Investment Advisors LLC grew its stake in shares of Veeva Systems by 7.3% in the third quarter. OneDigital Investment Advisors LLC now owns 1,909 shares of the technology company’s stock worth $401,000 after acquiring an additional 130 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Veeva Systems by 5.5% in the third quarter. CIBC Asset Management Inc now owns 5,641 shares of the technology company’s stock worth $1,184,000 after acquiring an additional 294 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Veeva Systems by 2.2% in the third quarter. Empowered Funds LLC now owns 4,170 shares of the technology company’s stock worth $875,000 after acquiring an additional 91 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in shares of Veeva Systems by 51.3% in the third quarter. Mutual of America Capital Management LLC now owns 3,432 shares of the technology company’s stock worth $720,000 after acquiring an additional 1,163 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Veeva Systems Stock Down 0.6 %

NYSE VEEV opened at $235.71 on Friday. The stock’s 50-day moving average price is $228.86 and its 200-day moving average price is $222.03. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The company has a market capitalization of $38.27 billion, a P/E ratio of 58.20, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VEEV shares. Wells Fargo & Company increased their target price on Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and cut their target price for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Robert W. Baird increased their target price on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. KeyCorp dropped their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Stephens reaffirmed an “overweight” rating and set a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and a consensus price target 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.