Oppenheimer & Co. Inc. Decreases Holdings in Veeva Systems Inc. (NYSE:VEEV)

Oppenheimer & Co. Inc. reduced its position in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 13.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 15,245 shares of the technology company's stock after selling 2,429 shares during the period. Oppenheimer & Co. Inc.'s holdings in Veeva Systems were worth $3,531,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Johnson Financial Group Inc. lifted its stake in Veeva Systems by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 238 shares of the technology company's stock valued at $56,000 after buying an additional 44 shares during the last quarter. Colonial Trust Co SC boosted its stake in Veeva Systems by 30.3% during the 4th quarter. Colonial Trust Co SC now owns 241 shares of the technology company's stock worth $51,000 after purchasing an additional 56 shares during the period. Twin City Private Wealth LLC boosted its stake in Veeva Systems by 2.9% during the 4th quarter. Twin City Private Wealth LLC now owns 2,036 shares of the technology company's stock worth $428,000 after purchasing an additional 58 shares during the period. CoreCap Advisors LLC grew its position in Veeva Systems by 31.7% during the 4th quarter. CoreCap Advisors LLC now owns 249 shares of the technology company's stock worth $52,000 after purchasing an additional 60 shares during the last quarter. Finally, True Wealth Design LLC increased its stake in Veeva Systems by 46.0% in the fourth quarter. True Wealth Design LLC now owns 203 shares of the technology company's stock valued at $43,000 after purchasing an additional 64 shares during the period. 88.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VEEV has been the topic of several recent research reports. Scotiabank boosted their price target on Veeva Systems from $240.00 to $245.00 and gave the company a "sector perform" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. raised their target price on shares of Veeva Systems from $218.00 to $249.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Stifel Nicolaus boosted their price target on shares of Veeva Systems from $272.00 to $295.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Stephens reissued an "overweight" rating and set a $280.00 price target on shares of Veeva Systems in a report on Thursday, March 6th. Finally, Morgan Stanley lifted their price objective on Veeva Systems from $201.00 to $210.00 and gave the company an "underweight" rating in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $269.80.

Veeva Systems Trading Up 0.7%

Shares of NYSE:VEEV traded up $1.90 on Thursday, hitting $281.40. The company had a trading volume of 1,231,088 shares, compared to its average volume of 1,151,061. The company has a market cap of $45.98 billion, a PE ratio of 59.62, a PEG ratio of 2.19 and a beta of 0.99. The business has a 50 day moving average of $252.45 and a 200 day moving average of $235.03. Veeva Systems Inc. has a 52-week low of $177.41 and a 52-week high of $291.69.

Veeva Systems (NYSE:VEEV - Get Free Report) last announced its earnings results on Wednesday, May 28th. The technology company reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.23. The firm had revenue of $759.04 million for the quarter, compared to analyst estimates of $728.38 million. Veeva Systems had a net margin of 27.34% and a return on equity of 13.96%. Veeva Systems's revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.50 earnings per share. As a group, equities analysts predict that Veeva Systems Inc. will post 4.35 EPS for the current year.

Insider Buying and Selling

In other news, Director Timothy S. Cabral sold 315 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $289.72, for a total transaction of $91,261.80. Following the completion of the sale, the director now directly owns 5,500 shares of the company's stock, valued at $1,593,460. The trade was a 5.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas D. Schwenger sold 1,200 shares of Veeva Systems stock in a transaction on Monday, April 14th. The shares were sold at an average price of $220.97, for a total value of $265,164.00. Following the completion of the transaction, the insider now owns 25,889 shares in the company, valued at $5,720,692.33. The trade was a 4.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,184 shares of company stock worth $1,376,179. 10.30% of the stock is owned by company insiders.

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.