Oppenheimer & Co. Inc. Acquires 5,478 Shares of Veeva Systems Inc. (VEEV)

Oppenheimer & Co. Inc. grew its holdings in shares of Veeva Systems Inc. (NYSE:VEEV) by 62.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,214 shares of the technology company’s stock after purchasing an additional 5,478 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Veeva Systems were worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. raised its holdings in shares of Veeva Systems by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 10,387 shares of the technology company’s stock valued at $637,000 after purchasing an additional 27 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Veeva Systems by 2.9% during the 1st quarter. Teacher Retirement System of Texas now owns 7,125 shares of the technology company’s stock valued at $365,000 after purchasing an additional 204 shares in the last quarter. Creative Planning raised its holdings in shares of Veeva Systems by 1.5% during the 2nd quarter. Creative Planning now owns 15,422 shares of the technology company’s stock valued at $946,000 after purchasing an additional 232 shares in the last quarter. Huntington National Bank raised its holdings in shares of Veeva Systems by 10.6% during the 2nd quarter. Huntington National Bank now owns 2,668 shares of the technology company’s stock valued at $164,000 after purchasing an additional 256 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of Veeva Systems by 1.6% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 20,863 shares of the technology company’s stock valued at $1,279,000 after purchasing an additional 326 shares in the last quarter. Institutional investors and hedge funds own 71.51% of the company’s stock.

In related news, CFO Timothy S. Cabral sold 4,375 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $57.86, for a total value of $253,137.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alan Mateo sold 8,025 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $59.75, for a total transaction of $479,493.75. Following the completion of the transaction, the executive vice president now owns 14,264 shares in the company, valued at $852,274. The disclosure for this sale can be found here. Insiders have sold 233,716 shares of company stock worth $14,326,005 over the last ninety days. Insiders own 17.50% of the company’s stock.

Veeva Systems Inc. (NYSE:VEEV) opened at 56.96 on Monday. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 72.84 and a beta of 1.65. Veeva Systems Inc. has a 1-year low of $36.55 and a 1-year high of $68.07. The company has a 50-day moving average of $61.83 and a 200-day moving average of $56.97.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings results on Thursday, August 24th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Veeva Systems had a net margin of 18.98% and a return on equity of 12.77%. The firm had revenue of $166.59 million for the quarter, compared to analyst estimates of $164.26 million. During the same period in the prior year, the firm posted $0.15 earnings per share. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. On average, equities analysts predict that Veeva Systems Inc. will post $0.87 earnings per share for the current year.

A number of research firms have recently weighed in on VEEV. Needham & Company LLC restated a “buy” rating and set a $75.00 price target (up previously from $48.00) on shares of Veeva Systems in a report on Sunday, May 28th. Pacific Crest reiterated an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Veeva Systems in a research note on Sunday, May 28th. Stifel Nicolaus raised their target price on shares of Veeva Systems from $60.00 to $67.00 and gave the company a “buy” rating in a research note on Saturday, May 27th. Canaccord Genuity reiterated a “buy” rating and issued a $70.00 target price (up from $48.00) on shares of Veeva Systems in a research note on Friday, May 26th. Finally, Citigroup Inc. raised their target price on shares of Veeva Systems from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, May 30th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Veeva Systems presently has a consensus rating of “Buy” and a consensus price target of $64.77.

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Veeva Systems Company Profile

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.

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

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