Capital Investment Services of America Inc. Buys 914 Shares of Veeva Systems Inc. (NYSE:VEEV)

Capital Investment Services of America Inc. grew its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,074 shares of the technology company’s stock after buying an additional 914 shares during the period. Veeva Systems accounts for 1.6% of Capital Investment Services of America Inc.’s portfolio, making the stock its 29th biggest holding. Capital Investment Services of America Inc.’s holdings in Veeva Systems were worth $16,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Veeva Systems in the 3rd quarter worth $26,000. True Wealth Design LLC increased its position in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Veeva Systems during the 4th quarter valued at $31,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Veeva Systems during the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $238.94 on Thursday. The business’s 50 day moving average price is $223.81 and its 200-day moving average price is $213.65. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm has a market capitalization of $38.79 billion, a PE ratio of 59.00, a P/E/G ratio of 2.05 and a beta of 0.85.

Insider Activity

In other news, insider Thomas D. Schwenger sold 1,126 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan Faddis sold 1,694 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total transaction of $390,128.20. Following the transaction, the senior vice president now directly owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on VEEV. Scotiabank boosted their target price on Veeva Systems from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. The Goldman Sachs Group lowered Veeva Systems from a “buy” rating to a “sell” rating and reduced their target price for the stock from $261.00 to $200.00 in a research note on Thursday, January 23rd. Piper Sandler upped their price target on shares of Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Morgan Stanley boosted their price objective on shares of Veeva Systems from $183.00 to $195.00 and gave the company an “underweight” rating in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $253.96.

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.