Oppenheimer Asset Management Inc. Raises Position in Veeva Systems Inc. (NYSE:VEEV)

Oppenheimer Asset Management Inc. grew its holdings in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 3.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,000 shares of the technology company's stock after purchasing an additional 2,733 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Veeva Systems were worth $16,370,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Veeva Systems in the third quarter valued at $26,000. Advisors Asset Management Inc. acquired a new stake in Veeva Systems during the first quarter worth approximately $28,000. Blue Trust Inc. boosted its holdings in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company's stock worth $33,000 after acquiring an additional 173 shares during the period. DT Investment Partners LLC acquired a new position in shares of Veeva Systems in the second quarter valued at approximately $35,000. Finally, Mather Group LLC. increased its stake in shares of Veeva Systems by 166.3% during the second quarter. Mather Group LLC. now owns 253 shares of the technology company's stock worth $46,000 after purchasing an additional 158 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.

Wall Street Analyst Weigh In

VEEV has been the subject of several recent research reports. BNP Paribas began coverage on Veeva Systems in a research note on Tuesday, October 8th. They issued an "outperform" rating and a $286.00 price target for the company. Robert W. Baird cut their price objective on shares of Veeva Systems from $251.00 to $245.00 and set an "outperform" rating for the company in a research report on Monday, October 28th. UBS Group raised their target price on shares of Veeva Systems from $185.00 to $215.00 and gave the company a "neutral" rating in a report on Monday, August 26th. JPMorgan Chase & Co. upped their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. Finally, Royal Bank of Canada boosted their price objective on shares of Veeva Systems from $250.00 to $275.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. One 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, Veeva Systems has a consensus rating of "Moderate Buy" and an average target price of $237.00.

Veeva Systems Stock Performance

VEEV stock traded down $3.48 during midday trading on Thursday, reaching $229.71. 1,017,207 shares of the company's stock traded hands, compared to its average volume of 943,497. The firm has a market capitalization of $37.20 billion, a PE ratio of 62.06, a price-to-earnings-growth ratio of 2.28 and a beta of 0.81. The company has a 50-day moving average price of $215.14 and a two-hundred day moving average price of $200.49. Veeva Systems Inc. has a 52 week low of $165.12 and a 52 week high of $240.68.

Veeva Systems (NYSE:VEEV - Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.03. Veeva Systems had a net margin of 23.91% and a return on equity of 13.30%. The company had revenue of $676.18 million during the quarter, compared to analyst estimates of $667.21 million. As a group, analysts predict that Veeva Systems Inc. will post 4.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction 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. This represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jonathan Faddis sold 2,353 shares of the business's stock in a transaction that occurred 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 $1,807,000. This trade represents a 20.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company's stock.

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.