Cornercap Investment Counsel Inc. Takes $2.06 Million Position in Veeva Systems Inc. (NYSE:VEEV)

Cornercap Investment Counsel Inc. bought a new position in Veeva Systems Inc. (NYSE:VEEV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,228 shares of the technology company’s stock, valued at approximately $2,055,000.

A number of other institutional investors and hedge funds also recently modified their holdings of VEEV. Linscomb & Williams Inc. acquired a new stake in Veeva Systems during the 4th quarter worth about $1,479,000. Robeco Institutional Asset Management B.V. increased its position in shares of Veeva Systems by 32.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 206,220 shares of the technology company’s stock worth $365,000 after acquiring an additional 50,868 shares in the last quarter. APG Asset Management US Inc. acquired a new stake in shares of Veeva Systems during the fourth quarter valued at approximately $5,756,000. Quantum Capital Management LLC NJ lifted its position in shares of Veeva Systems by 9.8% in the 4th quarter. Quantum Capital Management LLC NJ now owns 329,867 shares of the technology company’s stock valued at $63,506,000 after acquiring an additional 29,525 shares in the last quarter. Finally, Eisler Capital UK Ltd. acquired a new position in Veeva Systems in the 4th quarter worth approximately $1,408,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Stock Up 0.9 %

Shares of Veeva Systems stock opened at $223.90 on Thursday. Veeva Systems Inc. has a 12-month low of $162.72 and a 12-month high of $236.90. The stock has a 50 day moving average price of $194.68 and a two-hundred day moving average price of $201.95. The stock has a market capitalization of $36.19 billion, a P/E ratio of 66.05, a PEG ratio of 2.11 and a beta of 0.81.

Insider Transactions at Veeva Systems

In related news, SVP Jonathan Faddis sold 2,353 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the transaction, the senior vice president now directly owns 9,035 shares in the company, valued at approximately $1,807,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on VEEV. Citigroup boosted their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. increased their price objective on Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research note on Monday. BTIG Research began coverage on Veeva Systems in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective for the company. Bank of America upped their target price on Veeva Systems from $204.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, TD Cowen raised their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.96.

Veeva Systems Company 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.