Capital Investment Counsel Inc Sells 612 Shares of Veeva Systems Inc. (NYSE:VEEV)

Capital Investment Counsel Inc lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,034 shares of the technology company’s stock after selling 612 shares during the quarter. Veeva Systems makes up approximately 0.8% of Capital Investment Counsel Inc’s holdings, making the stock its 23rd biggest holding. Capital Investment Counsel Inc’s holdings in Veeva Systems were worth $5,474,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VEEV. Blue Trust Inc. grew its holdings in Veeva Systems by 453.9% during the 3rd quarter. Blue Trust Inc. now owns 986 shares of the technology company’s stock worth $207,000 after acquiring an additional 808 shares during the last quarter. Raymond James & Associates grew its holdings in Veeva Systems by 9.1% during the 3rd quarter. Raymond James & Associates now owns 115,954 shares of the technology company’s stock worth $24,335,000 after acquiring an additional 9,713 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Veeva Systems by 3.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 16,449 shares of the technology company’s stock worth $3,452,000 after acquiring an additional 550 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Veeva Systems by 19,189.0% during the 3rd quarter. International Assets Investment Management LLC now owns 119,206 shares of the technology company’s stock worth $25,018,000 after acquiring an additional 118,588 shares during the last quarter. Finally, Spectrum Asset Management Inc. NB CA bought a new stake in Veeva Systems during the 3rd quarter worth about $276,000. Institutional investors own 88.20% of the company’s stock.

Insider Activity

In related news, SVP Jonathan Faddis sold 1,694 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.50% of the stock is owned by corporate insiders.

Veeva Systems Stock Down 0.2 %

NYSE VEEV opened at $228.73 on Friday. Veeva Systems Inc. has a 12-month low of $170.25 and a 12-month high of $258.93. The company has a market capitalization of $37.13 billion, a PE ratio of 56.48, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The firm’s 50 day moving average is $223.89 and its 200-day moving average is $217.03.

Analysts Set New Price Targets

VEEV has been the topic of a number of research analyst reports. Evercore ISI increased their price objective on shares of Veeva Systems from $220.00 to $245.00 and gave the stock an “in-line” rating in a report on Friday, December 6th. Stifel Nicolaus raised their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Canaccord Genuity Group raised their target price on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Barclays raised their target price on shares of Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.