Oppenheimer Asset Management Inc. purchased a new position in shares of Veeva Systems Inc. (NYSE:VEEV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 56,186 shares of the technology company’s stock, valued at approximately $2,882,000.
A number of other large investors have also added to or reduced their stakes in the stock. A.R.T. Advisors LLC increased its stake in Veeva Systems by 618.1% in the fourth quarter. A.R.T. Advisors LLC now owns 46,007 shares of the technology company’s stock worth $1,872,000 after buying an additional 39,600 shares during the last quarter. Folger Hill Asset Management LP acquired a new stake in Veeva Systems during the fourth quarter worth about $341,000. Cantab Capital Partners LLP increased its stake in Veeva Systems by 15.6% in the fourth quarter. Cantab Capital Partners LLP now owns 14,870 shares of the technology company’s stock worth $605,000 after buying an additional 2,011 shares during the last quarter. Advisory Research Inc. acquired a new stake in Veeva Systems during the fourth quarter worth about $1,217,000. Finally, Allianz Asset Management AG increased its stake in Veeva Systems by 71.0% in the fourth quarter. Allianz Asset Management AG now owns 227,171 shares of the technology company’s stock worth $9,246,000 after buying an additional 94,331 shares during the last quarter. 80.68% of the stock is currently owned by institutional investors.
Veeva Systems Inc. (NYSE VEEV) traded up 0.29% on Friday, hitting $59.63. 1,490,385 shares of the stock were exchanged. The firm has a market cap of $8.33 billion, a PE ratio of 96.02 and a beta of 1.63. Veeva Systems Inc. has a 52-week low of $32.61 and a 52-week high of $68.07. The stock’s 50 day moving average price is $59.53 and its 200 day moving average price is $49.07.
Veeva Systems (NYSE:VEEV) last issued its quarterly earnings data on Thursday, May 25th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.04. The company had revenue of $157.90 million during the quarter, compared to analysts’ expectations of $151.82 million. Veeva Systems had a net margin of 15.86% and a return on equity of 12.28%. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. Equities research analysts forecast that Veeva Systems Inc. will post $0.83 earnings per share for the current year.
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A number of research firms have weighed in on VEEV. Deutsche Bank AG reiterated a “hold” rating and set a $55.00 price objective on shares of Veeva Systems in a research report on Tuesday, May 30th. Citigroup Inc. boosted their price objective on shares of Veeva Systems from $61.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price objective (up previously from $48.00) on shares of Veeva Systems in a research report on Sunday, May 28th. Pacific Crest reiterated an “overweight” rating and set a $70.00 price objective (up previously from $61.00) on shares of Veeva Systems in a research report on Sunday, May 28th. Finally, Stifel Nicolaus boosted their price objective on shares of Veeva Systems from $60.00 to $67.00 and gave the company a “buy” rating in a research report on Saturday, May 27th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Veeva Systems has an average rating of “Buy” and an average price target of $62.00.
In related news, SVP Frederic Lequient sold 1,088 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $65.06, for a total value of $70,785.28. Following the sale, the senior vice president now directly owns 2,875 shares in the company, valued at approximately $187,047.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alan Mateo sold 63,433 shares of the business’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $49.90, for a total transaction of $3,165,306.70. Following the completion of the sale, the executive vice president now owns 70,162 shares in the company, valued at $3,501,083.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 344,663 shares of company stock worth $19,555,373. 19.17% of the stock is owned by insiders.
About Veeva Systems
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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