Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its position in Veeva Systems Inc. (NYSE:VEEV) by 55.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,476 shares of the technology company’s stock after selling 4,265 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Veeva Systems were worth $731,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of VEEV. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Veeva Systems by 72.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after purchasing an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems during the fourth quarter valued at about $25,000. Smithfield Trust Co increased its position in shares of Veeva Systems by 145.5% during the fourth quarter. Smithfield Trust Co now owns 135 shares of the technology company’s stock valued at $27,000 after acquiring an additional 80 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Veeva Systems by 3,375.0% in the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares during the period. Finally, Avion Wealth lifted its holdings in shares of Veeva Systems by 635.0% in the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock worth $30,000 after acquiring an additional 127 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Veeva Systems from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Needham & Company LLC restated a “buy” rating and set a $270.00 target price on shares of Veeva Systems in a report on Thursday, March 6th. Mizuho started coverage on Veeva Systems in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 target price for the company. Barclays increased their price target on shares of Veeva Systems from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Veeva Systems from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $256.52.

Veeva Systems Stock Down 1.4 %

VEEV opened at $234.10 on Friday. The firm has a market cap of $38.01 billion, a price-to-earnings ratio of 57.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. Veeva Systems Inc. has a 52 week low of $170.25 and a 52 week high of $258.93. The business’s 50 day moving average is $231.62 and its two-hundred day moving average is $222.87.

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.