Veeva Systems Inc. (NYSE:VEEV) Shares Purchased by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,074 shares of the technology company’s stock after buying an additional 914 shares during the period. Veeva Systems accounts for 1.6% of Capital Investment Services of America Inc.’s investment portfolio, making the stock its 29th largest holding. Capital Investment Services of America Inc.’s holdings in Veeva Systems were worth $16,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of VEEV. Sanctuary Advisors LLC acquired a new position in Veeva Systems in the 2nd quarter valued at about $1,231,000. SG Americas Securities LLC raised its stake in shares of Veeva Systems by 667.4% during the third quarter. SG Americas Securities LLC now owns 5,594 shares of the technology company’s stock worth $1,174,000 after purchasing an additional 4,865 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Veeva Systems by 13.1% during the third quarter. GAMMA Investing LLC now owns 977 shares of the technology company’s stock worth $205,000 after purchasing an additional 113 shares during the period. Park Place Capital Corp increased its stake in Veeva Systems by 11.5% in the 3rd quarter. Park Place Capital Corp now owns 574 shares of the technology company’s stock valued at $120,000 after buying an additional 59 shares during the period. Finally, Atomi Financial Group Inc. raised its position in Veeva Systems by 23.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 3,716 shares of the technology company’s stock worth $780,000 after buying an additional 717 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Royal Bank of Canada lifted their price target on Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. KeyCorp reduced their target price on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Robert W. Baird increased their price target on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Bank of America upped their target price on shares of Veeva Systems from $280.00 to $290.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and an average target price of $253.96.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of Veeva Systems stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the sale, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Veeva Systems Trading Up 2.4 %

Shares of Veeva Systems stock opened at $238.94 on Thursday. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The stock has a market cap of $38.79 billion, a price-to-earnings ratio of 59.00, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. The company has a fifty day moving average price of $223.81 and a 200 day moving average price of $213.65.

Veeva Systems Company 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.