Cornercap Investment Counsel Inc. lessened its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 55.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,476 shares of the technology company's stock after selling 4,265 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Veeva Systems were worth $731,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Veeva Systems during the 4th quarter valued at about $25,000. Smithfield Trust Co boosted its stake in shares of Veeva Systems by 145.5% in the 4th quarter. Smithfield Trust Co now owns 135 shares of the technology company's stock valued at $27,000 after purchasing an additional 80 shares during the last quarter. True Wealth Design LLC grew 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 worth $29,000 after buying an additional 135 shares during the period. Finally, Avion Wealth raised its stake in shares of Veeva Systems by 635.0% during the fourth quarter. Avion Wealth now owns 147 shares of the technology company's stock worth $30,000 after buying an additional 127 shares during the last quarter. 88.20% of the stock is owned by institutional investors.
Insider Transactions at Veeva Systems
In related news, SVP Jonathan Faddis sold 787 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total transaction of $178,019.40. Following the sale, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This represents a 8.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on VEEV shares. Scotiabank raised their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research note on Thursday, March 6th. Morgan Stanley upped their price objective on Veeva Systems from $195.00 to $201.00 and gave the company an "underweight" rating in a report on Thursday, March 6th. Evercore ISI raised their target price on Veeva Systems from $220.00 to $245.00 and gave the stock an "in-line" rating in a report on Friday, December 6th. Royal Bank of Canada upped their price target on Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Finally, Citigroup lifted their price objective on shares of Veeva Systems from $281.00 to $307.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Veeva Systems currently has an average rating of "Moderate Buy" and an average price target of $256.52.
Get Our Latest Analysis on Veeva Systems
Veeva Systems Stock Down 2.8 %
VEEV traded down $6.28 during trading hours on Thursday, hitting $220.26. 710,421 shares of the company's stock were exchanged, compared to its average volume of 1,042,137. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The stock's 50-day moving average is $231.96 and its two-hundred day moving average is $223.04. The stock has a market cap of $35.84 billion, a price-to-earnings ratio of 54.39, a PEG ratio of 1.89 and a beta of 0.88.
Veeva Systems Profile
(
Free Report)
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.
See Also
Before you consider Veeva Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veeva Systems wasn't on the list.
While Veeva Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
