Oppenheimer & Co. Inc. increased its position in shares of Veeva Systems Inc (NYSE:VEEV) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,253 shares of the technology company’s stock after purchasing an additional 738 shares during the period. Oppenheimer & Co. Inc.’s holdings in Veeva Systems were worth $1,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. United Services Automobile Association raised its holdings in Veeva Systems by 2.9% in the 2nd quarter. United Services Automobile Association now owns 18,516 shares of the technology company’s stock valued at $1,423,000 after acquiring an additional 529 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Veeva Systems by 13.7% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,400 shares of the technology company’s stock valued at $415,000 after acquiring an additional 650 shares in the last quarter. Twin Capital Management Inc. raised its holdings in Veeva Systems by 3.0% in the 2nd quarter. Twin Capital Management Inc. now owns 29,080 shares of the technology company’s stock valued at $2,235,000 after acquiring an additional 840 shares in the last quarter. Exchange Capital Management Inc. raised its holdings in Veeva Systems by 2.8% in the 3rd quarter. Exchange Capital Management Inc. now owns 31,738 shares of the technology company’s stock valued at $3,455,000 after acquiring an additional 865 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Veeva Systems by 5.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,417 shares of the technology company’s stock valued at $1,339,000 after acquiring an additional 901 shares in the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on VEEV. Canaccord Genuity cut Veeva Systems from a “buy” rating to a “hold” rating and lifted their price objective for the company from $98.00 to $105.00 in a report on Monday, October 1st. Zacks Investment Research upgraded Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $117.00 price target on the stock in a research note on Wednesday, August 29th. ValuEngine upgraded Veeva Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. Bank of America lifted their price target on Veeva Systems from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Finally, Needham & Company LLC lifted their price target on Veeva Systems from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $99.07.

In related news, SVP Jonathan Faddis sold 3,000 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $101.48, for a total transaction of $304,440.00. Following the sale, the senior vice president now owns 5,211 shares in the company, valued at approximately $528,812.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alan Mateo sold 555 shares of the business’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $103.52, for a total value of $57,453.60. Following the sale, the executive vice president now owns 13,147 shares in the company, valued at approximately $1,360,977.44. The disclosure for this sale can be found here. Insiders have sold a total of 172,476 shares of company stock worth $16,528,424 in the last 90 days. 15.97% of the stock is currently owned by corporate insiders.

Shares of VEEV opened at $92.23 on Friday. Veeva Systems Inc has a 52-week low of $52.17 and a 52-week high of $109.05. The firm has a market capitalization of $13.23 billion, a PE ratio of 100.25, a price-to-earnings-growth ratio of 4.34 and a beta of 1.64.

Veeva Systems (NYSE:VEEV) last issued its quarterly earnings results on Thursday, August 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.05. Veeva Systems had a return on equity of 13.58% and a net margin of 21.23%. The company had revenue of $209.60 million for the quarter, compared to analyst estimates of $203.50 million. During the same quarter last year, the company posted $0.23 EPS. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, sell-side analysts expect that Veeva Systems Inc will post 1.1 earnings per share for the current year.

Veeva Systems Company Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

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

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