Oppenheimer Asset Management Inc. Decreases Position in Veeva Systems Inc. (NYSE:VEEV)

Oppenheimer Asset Management Inc. decreased its position in Veeva Systems Inc. (NYSE:VEEV) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 74,438 shares of the technology company’s stock after selling 3,562 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Veeva Systems were worth $15,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of VEEV. Massachusetts Financial Services Co. MA raised its stake in shares of Veeva Systems by 64.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock valued at $744,084,000 after buying an additional 1,392,256 shares during the period. Principal Financial Group Inc. increased its holdings in Veeva Systems by 138.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after acquiring an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Veeva Systems by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock valued at $536,972,000 after acquiring an additional 1,081,501 shares during the period. FMR LLC lifted its holdings in Veeva Systems by 25.7% during the third quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after purchasing an additional 610,021 shares during the last quarter. Finally, Seilern Investment Management Ltd purchased a new stake in Veeva Systems during the fourth quarter valued at about $94,957,000. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Stock Down 2.6 %

NYSE VEEV opened at $221.28 on Friday. The stock’s 50-day simple moving average is $223.85 and its two-hundred day simple moving average is $218.48. Veeva Systems Inc. has a twelve month low of $170.25 and a twelve month high of $258.93. The company has a market capitalization of $35.93 billion, a price-to-earnings ratio of 54.64, a PEG ratio of 1.89 and a beta of 0.85.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on VEEV shares. Wells Fargo & Company lifted their target price on shares of Veeva Systems from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on shares of Veeva Systems from $208.00 to $218.00 and gave the company a “neutral” rating in a report on Monday, December 16th. KeyCorp cut their price target on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Evercore ISI boosted their price objective on Veeva Systems from $220.00 to $245.00 and gave the company an “in-line” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus increased their price objective on Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $255.08.

Insider Activity

In other news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the sale, the senior vice president now owns 8,061 shares of the company’s stock, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.50% of the company’s stock.

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.