Cornercap Investment Counsel Inc. Has $1.63 Million Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Cornercap Investment Counsel Inc. lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 31.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,741 shares of the technology company’s stock after selling 3,487 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Veeva Systems were worth $1,625,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new stake in Veeva Systems during the first quarter worth about $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Veeva Systems during the 3rd quarter valued at about $26,000. Blue Trust Inc. boosted its holdings in shares of Veeva Systems by 3,460.0% in the 2nd quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock worth $33,000 after acquiring an additional 173 shares in the last quarter. DT Investment Partners LLC acquired a new stake in Veeva Systems in the 2nd quarter valued at about $35,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Veeva Systems in the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 88.20% of the company’s stock.

Insider Activity

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.01, for a total value of $270,251.26. Following the completion of the transaction, the insider now owns 27,013 shares of the company’s stock, valued at $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jonathan Faddis sold 2,353 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. The trade was a 20.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.50% of the company’s stock.

Veeva Systems Trading Down 1.5 %

VEEV opened at $229.71 on Friday. The company has a fifty day moving average price of $215.14 and a two-hundred day moving average price of $200.49. The company has a market cap of $37.20 billion, a P/E ratio of 61.26, a price-to-earnings-growth ratio of 2.25 and a beta of 0.81. Veeva Systems Inc. has a 1-year low of $165.12 and a 1-year high of $240.68.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. The firm had revenue of $676.18 million for the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. On average, research analysts forecast that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on VEEV shares. Royal Bank of Canada boosted their price objective on Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. StockNews.com raised shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. JPMorgan Chase & Co. boosted their target price on Veeva Systems from $203.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. UBS Group lifted their target price on Veeva Systems from $185.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Truist Financial boosted their price target on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $237.00.

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.