Oppenheimer Asset Management Inc. Buys 2,733 Shares of Veeva Systems Inc. (NYSE:VEEV)

Oppenheimer Asset Management Inc. lifted its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 3.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 78,000 shares of the technology company’s stock after acquiring an additional 2,733 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Veeva Systems were worth $16,370,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new position in shares of Veeva Systems during the 1st quarter worth about $28,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Veeva Systems during the 3rd quarter worth about $26,000. Blue Trust Inc. increased its position in shares of Veeva Systems by 3,460.0% during 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. DT Investment Partners LLC acquired a new stake in shares of Veeva Systems during the 2nd quarter worth about $35,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Veeva Systems during the 2nd quarter worth about $46,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $233.37 on Thursday. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68. The company has a 50 day moving average of $214.81 and a 200-day moving average of $200.26. The stock has a market cap of $37.79 billion, a price-to-earnings ratio of 62.23, a P/E/G ratio of 2.28 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last issued 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 during the quarter, compared to analysts’ expectations of $667.21 million. Equities research analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction that occurred 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 transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction that occurred 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 transaction, the senior vice president now owns 9,035 shares of the company’s stock, valued at $1,807,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas D. Schwenger sold 1,126 shares of Veeva Systems 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 transaction, the insider now directly owns 27,013 shares in the company, valued at $6,483,390.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.

Analysts Set New Price Targets

VEEV has been the subject of a number of recent analyst reports. Piper Sandler increased their target price on shares of Veeva Systems from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. BNP Paribas initiated coverage on shares of Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 target price for the company. JPMorgan Chase & Co. increased their target price 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. Finally, Citigroup increased their target price on shares of Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently 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.