Capital Investment Services of America Inc. grew its holdings in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 5.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,720 shares of the technology company’s stock after acquiring an additional 2,950 shares during the period. Capital Investment Services of America Inc.’s holdings in Veeva Systems were worth $11,413,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in VEEV. Pinnacle Bancorp Inc. bought a new stake in Veeva Systems in the first quarter worth approximately $26,000. Ahrens Investment Partners LLC bought a new stake in Veeva Systems in the first quarter worth approximately $27,000. Barrett & Company Inc. bought a new stake in Veeva Systems in the first quarter worth approximately $28,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Veeva Systems in the fourth quarter worth $33,000. Finally, New Hampshire Trust acquired a new stake in shares of Veeva Systems in the fourth quarter worth $36,000. 80.07% of the stock is owned by institutional investors.
Analysts Set New Price Targets
VEEV has been the subject of a number of analyst reports. Guggenheim upgraded shares of Veeva Systems from a “neutral” rating to a “buy” rating and set a $226.00 price objective for the company in a research note on Thursday, June 1st. Royal Bank of Canada restated an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a research note on Thursday, August 31st. Morgan Stanley cut shares of Veeva Systems from an “equal weight” rating to an “underweight” rating and set a $181.00 price objective for the company. in a research note on Wednesday, June 28th. Truist Financial boosted their price objective on shares of Veeva Systems from $204.00 to $227.00 and gave the stock a “hold” rating in a research note on Thursday, September 7th. Finally, Oppenheimer reiterated an “outperform” rating and set a $225.00 target price on shares of Veeva Systems in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and an average price target of $216.74.
Veeva Systems Price Performance
Shares of VEEV traded down $2.15 during trading hours on Friday, hitting $209.01. The stock had a trading volume of 1,486,128 shares, compared to its average volume of 1,090,421. The company’s fifty day moving average is $201.61 and its two-hundred day moving average is $188.27. Veeva Systems Inc. has a 52 week low of $151.02 and a 52 week high of $225.49. The stock has a market capitalization of $33.58 billion, a price-to-earnings ratio of 62.95, a P/E/G ratio of 3.88 and a beta of 0.92.
Veeva Systems (NYSE:VEEV – Get Free Report) last issued its quarterly earnings data on Wednesday, August 30th. The technology company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. Veeva Systems had a net margin of 24.20% and a return on equity of 10.89%. The firm had revenue of $590.23 million for the quarter, compared to analyst estimates of $582.28 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The company’s revenue was up 10.5% on a year-over-year basis. Equities analysts predict that Veeva Systems Inc. will post 2.72 EPS for the current fiscal year.
Insiders Place Their Bets
In other Veeva Systems news, COO Thomas D. Schwenger sold 1,238 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $220.00, for a total transaction of $272,360.00. Following the sale, the chief operating officer now owns 21,329 shares of the company’s stock, valued at approximately $4,692,380. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Paul J. Sekhri sold 2,500 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $224.85, for a total value of $562,125.00. Following the transaction, the director now owns 14,484 shares of the company’s stock, valued at approximately $3,256,727.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas D. Schwenger sold 1,238 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $220.00, for a total transaction of $272,360.00. Following the completion of the transaction, the chief operating officer now directly owns 21,329 shares in the company, valued at approximately $4,692,380. The disclosure for this sale can be found here. Insiders have sold a total of 3,830 shares of company stock valued at $853,547 in the last 90 days. 10.98% of the stock is currently owned by insiders.
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 data 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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