Oppenheimer & Co. Inc. raised its stake in Veeva Systems Inc. (NYSE:VEEV - Free Report) by 323.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,674 shares of the technology company's stock after purchasing an additional 13,503 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Veeva Systems were worth $3,716,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in VEEV. Massachusetts Financial Services Co. MA raised its holdings in shares of Veeva Systems by 64.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company's stock valued at $744,084,000 after purchasing an additional 1,392,256 shares during the period. Principal Financial Group Inc. raised its stake in Veeva Systems by 138.9% in the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company's stock valued at $457,366,000 after buying an additional 1,267,061 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Veeva Systems by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company's stock valued at $536,972,000 after buying an additional 1,081,501 shares during the last quarter. FMR LLC lifted its position in shares of Veeva Systems by 25.7% in the third quarter. FMR LLC now owns 2,981,244 shares of the technology company's stock valued at $625,674,000 after buying an additional 610,021 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new position in shares of Veeva Systems during the 4th quarter worth approximately $94,957,000. Institutional investors and hedge funds own 88.20% of the company's stock.
Several brokerages have issued reports on VEEV. Wells Fargo & Company raised their price target on Veeva Systems from $275.00 to $285.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Robert W. Baird raised their target price on shares of Veeva Systems from $275.00 to $283.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. KeyCorp reduced their target price on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. StockNews.com raised shares of Veeva Systems from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, Stephens assumed coverage on Veeva Systems in a report on Friday, December 20th. They set an "overweight" rating and a $280.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.08.
Get Our Latest Stock Analysis on Veeva Systems
Shares of NYSE:VEEV opened at $224.33 on Friday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The stock has a market capitalization of $36.42 billion, a price-to-earnings ratio of 55.39, a price-to-earnings-growth ratio of 1.89 and a beta of 0.85. The company's 50 day simple moving average is $223.85 and its 200 day simple moving average is $218.95.
In other news, SVP Jonathan Faddis sold 1,694 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This trade represents a 17.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.50% of the company's stock.
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.
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