Capital Investment Services of America Inc. Buys 663 Shares of Veeva Systems Inc. (NYSE:VEEV)

Capital Investment Services of America Inc. raised its stake in Veeva Systems Inc. (NYSE:VEEV) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 79,737 shares of the technology company’s stock after buying an additional 663 shares during the period. Veeva Systems comprises about 1.9% of Capital Investment Services of America Inc.’s portfolio, making the stock its 24th biggest position. Capital Investment Services of America Inc.’s holdings in Veeva Systems were worth $18,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cardinal Capital Management boosted its position in shares of Veeva Systems by 0.3% during the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company’s stock valued at $3,307,000 after purchasing an additional 44 shares in the last quarter. Johnson Financial Group Inc. boosted its position in shares of Veeva Systems by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company’s stock valued at $56,000 after purchasing an additional 44 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of Veeva Systems by 30.3% during the 4th quarter. Colonial Trust Co SC now owns 241 shares of the technology company’s stock valued at $51,000 after purchasing an additional 56 shares in the last quarter. Twin City Private Wealth LLC boosted its position in shares of Veeva Systems by 2.9% during the 4th quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company’s stock valued at $428,000 after purchasing an additional 58 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its position in shares of Veeva Systems by 31.7% during the 4th quarter. CoreCap Advisors LLC now owns 249 shares of the technology company’s stock valued at $52,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of several research analyst reports. Truist Financial upped their target price on Veeva Systems from $217.00 to $230.00 and gave the company a “hold” rating in a research report on Thursday, May 29th. JPMorgan Chase & Co. increased their price target on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. UBS Group increased their price target on Veeva Systems from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. Robert W. Baird increased their price target on Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Finally, Wells Fargo & Company increased their price target on Veeva Systems from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $269.80.

Insider Transactions at Veeva Systems

In related news, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction on Monday, April 14th. The stock was sold at an average price of $220.97, for a total transaction of $265,164.00. Following the completion of the sale, the insider now owns 25,889 shares of the company’s stock, valued at approximately $5,720,692.33. This trade represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy S. Cabral sold 315 shares of Veeva Systems stock in a transaction on Friday, June 6th. The shares were sold at an average price of $289.72, for a total value of $91,261.80. Following the sale, the director now directly owns 5,500 shares of the company’s stock, valued at $1,593,460. This represents a 5.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,184 shares of company stock valued at $1,376,179 over the last three months. Company insiders own 10.30% of the company’s stock.

Veeva Systems Trading Down 0.1%

Shares of VEEV opened at $281.82 on Friday. The company has a market capitalization of $45.85 billion, a price-to-earnings ratio of 69.59, a PEG ratio of 1.89 and a beta of 0.99. The stock has a 50 day moving average of $242.24 and a 200 day moving average of $232.31. Veeva Systems Inc. has a 12 month low of $176.41 and a 12 month high of $291.69.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Wednesday, May 28th. The technology company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.23. Veeva Systems had a return on equity of 13.56% and a net margin of 25.07%. The company had revenue of $759.04 million during the quarter, compared to the consensus estimate of $728.38 million. During the same period last year, the business posted $1.50 earnings per share. Veeva Systems’s revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

About Veeva Systems

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.