Oppenheimer Asset Management Inc. Raises Holdings in Veeva Systems Inc (VEEV)

Oppenheimer Asset Management Inc. grew its stake in shares of Veeva Systems Inc (NYSE:VEEV) by 16.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 93,484 shares of the technology company’s stock after acquiring an additional 13,448 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.07% of Veeva Systems worth $5,274,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Veeva Systems by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 9,125,993 shares of the technology company’s stock valued at $559,515,000 after acquiring an additional 290,865 shares during the period. BlackRock Inc. lifted its position in shares of Veeva Systems by 44.9% during the 2nd quarter. BlackRock Inc. now owns 5,812,749 shares of the technology company’s stock valued at $356,379,000 after acquiring an additional 1,801,439 shares during the period. FMR LLC lifted its position in shares of Veeva Systems by 50.9% during the 2nd quarter. FMR LLC now owns 3,456,402 shares of the technology company’s stock valued at $211,912,000 after acquiring an additional 1,166,372 shares during the period. First Trust Advisors LP lifted its position in shares of Veeva Systems by 6.1% during the 3rd quarter. First Trust Advisors LP now owns 2,212,827 shares of the technology company’s stock valued at $124,826,000 after acquiring an additional 126,869 shares during the period. Finally, State Street Corp lifted its position in shares of Veeva Systems by 52.1% during the 2nd quarter. State Street Corp now owns 1,856,894 shares of the technology company’s stock valued at $113,851,000 after acquiring an additional 635,842 shares during the period. Hedge funds and other institutional investors own 72.38% of the company’s stock.

In other Veeva Systems news, SVP Frederic Lequient sold 2,875 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $57.32, for a total value of $164,795.00. Following the completion of the transaction, the senior vice president now owns 3,399 shares of the company’s stock, valued at approximately $194,830.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul J. Sekhri sold 10,971 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $53.83, for a total value of $590,568.93. Following the completion of the transaction, the director now directly owns 27,438 shares of the company’s stock, valued at approximately $1,476,987.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 242,403 shares of company stock valued at $13,988,571. Insiders own 19.17% of the company’s stock.

Shares of Veeva Systems Inc (NYSE:VEEV) traded up $0.53 during mid-day trading on Friday, hitting $56.06. The company had a trading volume of 1,225,840 shares, compared to its average volume of 1,323,071. Veeva Systems Inc has a twelve month low of $40.50 and a twelve month high of $68.07. The company has a market cap of $7,702.01, a P/E ratio of 94.12, a P/E/G ratio of 4.71 and a beta of 1.60.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Tuesday, December 5th. The technology company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.09. Veeva Systems had a return on equity of 12.21% and a net margin of 19.97%. The business had revenue of $176.10 million during the quarter, compared to the consensus estimate of $171.99 million. During the same period in the prior year, the company earned $0.22 EPS. Veeva Systems’s revenue for the quarter was up 23.3% on a year-over-year basis. sell-side analysts anticipate that Veeva Systems Inc will post 0.65 EPS for the current fiscal year.

Several analysts recently weighed in on the company. Canaccord Genuity restated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a research report on Wednesday. Needham & Company LLC restated a “buy” rating on shares of Veeva Systems in a research report on Thursday, October 12th. KeyCorp restated a “buy” rating and set a $70.00 price objective on shares of Veeva Systems in a research report on Friday, August 25th. Stifel Nicolaus restated a “buy” rating and set a $67.00 price objective on shares of Veeva Systems in a research report on Friday, October 13th. Finally, Zacks Investment Research upgraded Veeva Systems from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Wednesday, October 11th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $67.45.

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About Veeva Systems

Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.

Institutional Ownership by Quarter for Veeva Systems (NYSE:VEEV)

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