Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its position in Veeva Systems Inc. (NYSE:VEEV) by 29.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,171 shares of the technology company’s stock after selling 1,720 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Veeva Systems were worth $875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Veeva Systems in the 3rd quarter valued at approximately $26,000. Advisors Asset Management Inc. acquired a new position in shares of Veeva Systems during the first quarter valued at $28,000. Blue Trust Inc. raised its stake in shares of Veeva Systems by 3,460.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after purchasing an additional 173 shares in the last quarter. DT Investment Partners LLC bought a new stake in shares of Veeva Systems during the second quarter valued at about $35,000. Finally, Mather Group LLC. lifted its holdings in Veeva Systems by 166.3% in the second quarter. Mather Group LLC. now owns 253 shares of the technology company’s stock worth $46,000 after purchasing an additional 158 shares during the period. Institutional investors own 88.20% of the company’s stock.

Insider Buying and Selling

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was 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 of the company’s stock, valued at $6,483,390.13. This represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Raymond James boosted 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. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Veeva Systems in a report on Friday, November 8th. Barclays upped their target price on Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. BNP Paribas initiated coverage on Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price target on the stock. Finally, Piper Sandler upped their price objective on Veeva Systems from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.92.

Veeva Systems Price Performance

NYSE:VEEV opened at $209.80 on Wednesday. The stock’s 50-day moving average is $214.95 and its two-hundred day moving average is $200.93. The stock has a market cap of $33.97 billion, a PE ratio of 55.95, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. Veeva Systems Inc. has a fifty-two week low of $165.12 and a fifty-two week high of $240.68.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported $1.07 earnings per share for the quarter, beating 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 firm had revenue of $676.18 million for the quarter, compared to analyst estimates of $667.21 million. On average, equities research analysts anticipate that Veeva Systems Inc. will post 4.21 earnings per share for the current year.

Veeva Systems 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.