Maryland State Retirement & Pension System Lowers Holdings in Veeva Systems Inc. (NYSE:VEEV)

Maryland State Retirement & Pension System lessened its stake in Veeva Systems Inc. (NYSE:VEEV) by 6.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,875 shares of the technology company’s stock after selling 552 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Veeva Systems were worth $1,656,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of VEEV. Principal Financial Group Inc. increased its holdings in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after buying an additional 1,267,061 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in Veeva Systems by 7.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,909 shares of the technology company’s stock worth $401,000 after buying an additional 130 shares in the last quarter. Empowered Funds LLC increased its holdings in Veeva Systems by 2.2% in the 3rd quarter. Empowered Funds LLC now owns 4,170 shares of the technology company’s stock worth $875,000 after buying an additional 91 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Veeva Systems by 51.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 3,432 shares of the technology company’s stock worth $720,000 after buying an additional 1,163 shares in the last quarter. Finally, Pathstone Holdings LLC increased its holdings in Veeva Systems by 15.4% in the 3rd quarter. Pathstone Holdings LLC now owns 11,281 shares of the technology company’s stock worth $2,368,000 after buying an additional 1,508 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VEEV. Robert W. Baird lifted their price objective on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Bank of America boosted their price target on Veeva Systems from $280.00 to $290.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley boosted their price target on Veeva Systems from $195.00 to $201.00 and gave the company an “underweight” rating in a research note on Thursday, March 6th. Piper Sandler boosted their price target on Veeva Systems from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Stephens restated an “overweight” rating and set a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $256.52.

Veeva Systems Price Performance

Shares of VEEV opened at $236.98 on Friday. The stock has a market capitalization of $38.47 billion, a price-to-earnings ratio of 58.51, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The business’s 50 day simple moving average is $229.24 and its 200-day simple moving average is $222.17.

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.