Veeva Systems Inc. (NYSE:VEEV) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its position in Veeva Systems Inc. (NYSE:VEEV) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,000 shares of the technology company’s stock after purchasing an additional 2,733 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Veeva Systems were worth $16,370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Empowered Funds LLC acquired a new position in shares of Veeva Systems during the first quarter valued at approximately $1,083,000. Concurrent Investment Advisors LLC acquired a new position in shares of Veeva Systems during the first quarter valued at approximately $228,000. Headlands Technologies LLC acquired a new position in shares of Veeva Systems during the first quarter valued at approximately $94,000. Avantax Advisory Services Inc. acquired a new position in shares of Veeva Systems during the first quarter valued at approximately $369,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Veeva Systems by 23.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 85,122 shares of the technology company’s stock valued at $19,722,000 after acquiring an additional 15,904 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.

Veeva Systems Stock Down 1.3 %

Shares of VEEV opened at $233.37 on Thursday. The company’s fifty day moving average is $214.81 and its 200-day moving average is $200.26. Veeva Systems Inc. has a 12 month low of $165.12 and a 12 month high of $240.68. The firm has a market cap of $37.79 billion, a price-to-earnings ratio of 62.23, a price-to-earnings-growth ratio of 2.28 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $667.21 million. As a group, research analysts predict that Veeva Systems Inc. will post 4.21 earnings per share for the current fiscal year.

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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Thomas D. Schwenger sold 1,126 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $470,600.00. Following the completion of the transaction, the senior vice president now owns 9,035 shares in the company, valued at $1,807,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. TD Cowen lifted their price target on shares of Veeva Systems from $180.00 to $192.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Raymond James lifted their price target on shares of Veeva Systems from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Truist Financial lifted their price target on shares of Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Veeva Systems from $203.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus target price of $237.00.

About Veeva Systems

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.