Oppenheimer Asset Management Inc. Has $15.65 Million Stock Holdings in Veeva Systems Inc. (NYSE:VEEV)

Oppenheimer Asset Management Inc. reduced its stake in Veeva Systems Inc. (NYSE:VEEV) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,438 shares of the technology company’s stock after selling 3,562 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Veeva Systems were worth $15,651,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its position 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 worth $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% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after buying an additional 1,267,061 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in 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 period. FMR LLC boosted its position 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 acquiring an additional 610,021 shares during the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in Veeva Systems during the 4th quarter worth about $94,957,000. 88.20% of the stock is currently owned by institutional investors.

Veeva Systems Price Performance

NYSE VEEV opened at $221.28 on Friday. The company has a fifty day moving average price of $223.85 and a 200-day moving average price of $218.48. The firm has a market cap of $35.93 billion, a price-to-earnings ratio of 54.64, a PEG ratio of 1.89 and a beta of 0.85. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

Wall Street Analysts Forecast Growth

VEEV has been the topic of a number of recent analyst reports. KeyCorp dropped their price objective on Veeva Systems from $285.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus boosted their price target on Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $261.00 to $200.00 in a research report on Thursday, January 23rd. Robert W. Baird lifted their price objective on shares of Veeva Systems from $275.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Scotiabank increased their target price on shares of Veeva Systems from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Friday, December 6th. 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.08.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now owns 8,061 shares in the company, valued at $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 available through the SEC website. 10.50% of the stock is currently owned by insiders.

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.