SouthState Corp Sells 58 Shares of Veeva Systems Inc. (NYSE:VEEV)

SouthState Corp lowered its stake in Veeva Systems Inc. (NYSE:VEEV) by 13.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 361 shares of the technology company’s stock after selling 58 shares during the period. SouthState Corp’s holdings in Veeva Systems were worth $66,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems in the 1st quarter worth about $28,000. DSM Capital Partners LLC bought a new position in shares of Veeva Systems during the fourth quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Veeva Systems during the fourth quarter valued at approximately $32,000. Blue Trust Inc. boosted its position 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 purchasing an additional 173 shares in the last quarter. Finally, First Financial Corp IN bought a new position in shares of Veeva Systems during the first quarter valued at $35,000. 88.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VEEV shares. Robert W. Baird raised their price target on shares of Veeva Systems from $245.00 to $251.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Barclays upped their price target on Veeva Systems from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Evercore ISI reduced their price objective on Veeva Systems from $230.00 to $200.00 and set an “in-line” rating for the company in a report on Friday, May 31st. Truist Financial upped their target price on shares of Veeva Systems from $197.00 to $207.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, BTIG Research started coverage on shares of Veeva Systems in a report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $230.57.

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 completion of the transaction, the senior vice president now directly owns 9,035 shares of the company’s stock, valued at $1,807,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 10.50% of the company’s stock.

Veeva Systems Trading Up 0.3 %

Shares of Veeva Systems stock opened at $215.97 on Friday. The firm has a market cap of $34.91 billion, a PE ratio of 63.71, a PEG ratio of 2.12 and a beta of 0.81. The stock has a 50 day moving average of $192.22 and a 200 day moving average of $202.00. Veeva Systems Inc. has a 12 month low of $162.72 and a 12 month high of $236.90.

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.