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

by · The Markets Daily

Capital Investment Services of America Inc. trimmed its position in shares of Veeva Systems Inc. (NYSE:VEEV – Free Report) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,160 shares of the technology company’s stock after selling 6,228 shares during the period. Capital Investment Services of America Inc.’s holdings in Veeva Systems were worth $16,403,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems in the 1st quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Veeva Systems in the third quarter worth $26,000. Larson Financial Group LLC raised its holdings in Veeva Systems by 1,153.8% in the first quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Blue Trust Inc. boosted its stake in Veeva Systems by 3,460.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new position in Veeva Systems during the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 0.1 %

Veeva Systems stock traded down $0.31 during midday trading on Monday, hitting $212.47. The company’s stock had a trading volume of 88,050 shares, compared to its average volume of 934,136. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The stock’s 50-day moving average price is $212.62 and its 200-day moving average price is $199.03. The company has a market capitalization of $34.41 billion, a PE ratio of 56.81, a price-to-earnings-growth ratio of 2.03 and a beta of 0.81.

Veeva Systems (NYSE:VEEV – Get Free Report) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The firm had revenue of $676.18 million during the quarter, compared to analysts’ expectations of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. As a group, equities analysts anticipate that Veeva Systems Inc. will post 4.21 EPS for the current year.

Insider Buying and Selling

In other news, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total transaction of $470,600.00. Following the completion of the sale, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. upped their price objective on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. TD Cowen increased their target price on Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Bank of America boosted their price target on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, StockNews.com cut Veeva Systems from a “buy” rating to a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $232.87.

View Our Latest Research Report on Veeva Systems

Veeva Systems Company Profile

(Free Report)

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.

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