Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Capital Investment Counsel Inc

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

Several other large investors have also modified their holdings of the stock. Sequoia Financial Advisors LLC grew its position in shares of Veeva Systems by 703.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,594 shares of the technology company’s stock worth $3,002,000 after acquiring an additional 13,654 shares during the last quarter. Nordea Investment Management AB grew its position in Veeva Systems by 5.2% during the 4th quarter. Nordea Investment Management AB now owns 163,247 shares of the technology company’s stock worth $31,730,000 after purchasing an additional 8,007 shares during the last quarter. ICICI Prudential Asset Management Co Ltd raised its holdings in shares of Veeva Systems by 13.1% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 49,140 shares of the technology company’s stock valued at $9,460,000 after buying an additional 5,674 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Veeva Systems during the fourth quarter worth about $2,668,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Veeva Systems by 26.3% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 98,377 shares of the technology company’s stock worth $18,953,000 after buying an additional 20,488 shares during the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Trading Up 0.3 %

VEEV traded up $0.69 on Monday, hitting $201.60. 59,698 shares of the company’s stock were exchanged, compared to its average volume of 959,292. The stock has a fifty day moving average of $219.27 and a two-hundred day moving average of $202.45. Veeva Systems Inc. has a twelve month low of $160.21 and a twelve month high of $236.90. The firm has a market cap of $32.52 billion, a PE ratio of 62.39, a P/E/G ratio of 2.03 and a beta of 0.74.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $620.75 million. On average, analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current year.

Insider Transactions at Veeva Systems

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on VEEV shares. Barclays lifted their target price on Veeva Systems from $240.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Citigroup raised their target price on shares of Veeva Systems from $240.00 to $264.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. The Goldman Sachs Group increased their price target on shares of Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, March 1st. JPMorgan Chase & Co. raised their price target on Veeva Systems from $183.00 to $222.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Finally, UBS Group raised their target price on shares of Veeva Systems from $185.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $234.90.

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.