Capital Investment Counsel Inc Increases Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Capital Investment Counsel Inc lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 5.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,646 shares of the technology company’s stock after buying an additional 1,384 shares during the quarter. Veeva Systems comprises about 0.8% of Capital Investment Counsel Inc’s holdings, making the stock its 24th biggest holding. Capital Investment Counsel Inc’s holdings in Veeva Systems were worth $5,592,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Advisors Asset Management Inc. acquired a new position in Veeva Systems during the first quarter worth approximately $28,000. First Financial Corp IN acquired a new position in shares of Veeva Systems in the 1st quarter valued at $35,000. Larson Financial Group LLC raised its position in Veeva Systems by 1,153.8% in the 1st quarter. Larson Financial Group LLC now owns 163 shares of the technology company’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Blue Trust Inc. raised its position in Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares during the last quarter. Finally, DT Investment Partners LLC acquired a new stake in Veeva Systems during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Price Performance

VEEV stock opened at $217.68 on Thursday. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90. The firm has a market capitalization of $35.25 billion, a PE ratio of 58.05, a P/E/G ratio of 2.13 and a beta of 0.81. The company’s 50 day simple moving average is $210.29 and its 200-day simple moving average is $198.85.

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

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total transaction of $470,600.00. Following the sale, the senior vice president now owns 9,035 shares in the company, valued at approximately $1,807,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

VEEV has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price objective on shares of Veeva Systems in a research note on Thursday, August 29th. Barclays lifted their target price on Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Guggenheim upped their price target on Veeva Systems from $233.00 to $249.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Raymond James increased their price target on Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Robert W. Baird boosted their price objective on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $232.96.

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.