Capital Investment Advisory Services LLC Buys 303 Shares of Veeva Systems Inc. (NYSE:VEEV)

Capital Investment Advisory Services LLC lifted its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,946 shares of the technology company’s stock after acquiring an additional 303 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Veeva Systems were worth $567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in VEEV. UMB Bank n.a. increased its holdings in Veeva Systems by 2.5% in the third quarter. UMB Bank n.a. now owns 2,103 shares of the technology company’s stock worth $428,000 after purchasing an additional 51 shares in the last quarter. NewEdge Wealth LLC increased its holdings in Veeva Systems by 0.6% in the third quarter. NewEdge Wealth LLC now owns 10,059 shares of the technology company’s stock worth $2,047,000 after purchasing an additional 60 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in shares of Veeva Systems by 5.9% during the third quarter. Personal CFO Solutions LLC now owns 1,091 shares of the technology company’s stock valued at $222,000 after acquiring an additional 61 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Veeva Systems by 3.4% during the third quarter. Sequoia Financial Advisors LLC now owns 1,940 shares of the technology company’s stock worth $395,000 after purchasing an additional 63 shares during the period. Finally, Cape Investment Advisory Inc. raised its position in shares of Veeva Systems by 3.0% during the third quarter. Cape Investment Advisory Inc. now owns 2,180 shares of the technology company’s stock worth $444,000 after purchasing an additional 64 shares during the period. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Stock Performance

VEEV stock opened at $199.16 on Tuesday. The company has a market capitalization of $32.13 billion, a price-to-earnings ratio of 61.85, a PEG ratio of 2.00 and a beta of 0.74. Veeva Systems Inc. has a fifty-two week low of $160.21 and a fifty-two week high of $236.90. The stock has a fifty day moving average of $220.78 and a 200-day moving average of $202.82.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. The company had revenue of $630.62 million during the quarter, compared to the consensus estimate of $620.75 million. Veeva Systems had a return on equity of 11.26% and a net margin of 22.24%. Equities analysts predict that Veeva Systems Inc. will post 4.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on VEEV shares. Stifel Nicolaus upped their target price on Veeva Systems from $205.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Jefferies Financial Group upped their target price on Veeva Systems from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Piper Sandler upped their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. StockNews.com raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, The Goldman Sachs Group upped their price target on Veeva Systems from $219.00 to $248.00 and gave the stock a “buy” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.90.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 3,598 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $207.42, for a total transaction of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Veeva Systems news, SVP Jonathan Faddis sold 3,598 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $207.42, for a total value of $746,297.16. Following the sale, the senior vice president now owns 10,668 shares of the company’s stock, valued at approximately $2,212,756.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Cabral sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 23,391 shares in the company, valued at approximately $5,287,301.64. The disclosure for this sale can be found here. 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 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.