Capital Investment Counsel Inc Acquires 2,705 Shares of Veeva Systems Inc. (NYSE:VEEV)

Capital Investment Counsel Inc grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 82.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,970 shares of the technology company’s stock after purchasing an additional 2,705 shares during the period. Capital Investment Counsel Inc’s holdings in Veeva Systems were worth $1,149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in VEEV. OFI Invest Asset Management purchased a new stake in shares of Veeva Systems in the 3rd quarter worth $25,000. Operose Advisors LLC bought a new position in Veeva Systems during the 3rd quarter worth about $29,000. Parkside Financial Bank & Trust raised its holdings in shares of Veeva Systems by 81.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 171 shares of the technology company’s stock valued at $35,000 after purchasing an additional 77 shares in the last quarter. Atticus Wealth Management LLC lifted its position in shares of Veeva Systems by 500.0% in the 3rd quarter. Atticus Wealth Management LLC now owns 180 shares of the technology company’s stock worth $37,000 after purchasing an additional 150 shares during the period. Finally, Nkcfo LLC boosted its stake in shares of Veeva Systems by 54.7% during the third quarter. Nkcfo LLC now owns 232 shares of the technology company’s stock valued at $47,000 after purchasing an additional 82 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the sale, the director now owns 23,391 shares of the company’s stock, valued at approximately $5,287,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Veeva Systems news, Director Timothy S. Cabral sold 15,000 shares of Veeva Systems stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.04, for a total transaction of $3,390,600.00. Following the sale, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Faddis sold 3,598 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $207.42, for a total value of $746,297.16. Following the completion of the transaction, the senior vice president now directly owns 10,668 shares in the company, valued at $2,212,756.56. The disclosure for this sale can be found here. Insiders have sold 21,989 shares of company stock worth $4,818,013 over the last 90 days. Company insiders own 10.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on VEEV. Jefferies Financial Group increased their target price on shares of Veeva Systems from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Raymond James restated an “outperform” rating and set a $260.00 price target on shares of Veeva Systems in a research note on Tuesday, March 26th. Robert W. Baird increased their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. lifted their price objective on shares of Veeva Systems from $183.00 to $222.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Finally, Oppenheimer reissued an “outperform” rating and set a $225.00 price objective on shares of Veeva Systems in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.90.

Veeva Systems Stock Performance

Veeva Systems stock traded up $0.69 during midday trading on Monday, reaching $201.60. The stock had a trading volume of 59,698 shares, compared to its average volume of 959,292. The stock has a market capitalization of $32.52 billion, a PE ratio of 62.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.74. The stock’s 50-day simple moving average is $219.27 and its 200 day simple moving average is $202.45. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.11. Veeva Systems had a net margin of 22.24% and a return on equity of 11.26%. The company had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. Equities analysts predict that Veeva Systems Inc. will post 4.11 earnings per share for the current fiscal year.

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.