Oppenheimer & Co. Inc. lowered its holdings in shares of Veeva Systems Inc. (NYSE:VEEV – Get Rating) by 51.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,515 shares of the technology company’s stock after selling 5,795 shares during the period. Oppenheimer & Co. Inc.’s holdings in Veeva Systems were worth $890,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in VEEV. Wellington Management Group LLP grew its stake in Veeva Systems by 1,578.4% during the first quarter. Wellington Management Group LLP now owns 1,504,355 shares of the technology company’s stock worth $319,616,000 after purchasing an additional 1,414,726 shares during the period. Alliancebernstein L.P. grew its stake in Veeva Systems by 19.1% during the third quarter. Alliancebernstein L.P. now owns 5,922,651 shares of the technology company’s stock worth $976,527,000 after purchasing an additional 951,240 shares during the period. Nuveen Asset Management LLC grew its stake in Veeva Systems by 36.3% in the third quarter. Nuveen Asset Management LLC now owns 2,148,210 shares of the technology company’s stock valued at $354,196,000 after acquiring an additional 572,197 shares during the period. Artisan Partners Limited Partnership grew its stake in Veeva Systems by 6.4% in the third quarter. Artisan Partners Limited Partnership now owns 9,393,531 shares of the technology company’s stock valued at $1,548,805,000 after acquiring an additional 563,361 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Veeva Systems in the third quarter valued at approximately $86,681,000. Institutional investors and hedge funds own 78.76% of the company’s stock.
Veeva Systems Trading Down 3.1 %
VEEV stock opened at $173.28 on Friday. The stock’s fifty day simple moving average is $177.39 and its two-hundred day simple moving average is $173.30. Veeva Systems Inc. has a 1-year low of $151.02 and a 1-year high of $232.26. The stock has a market cap of $27.69 billion, a P/E ratio of 57.57, a P/E/G ratio of 3.03 and a beta of 0.92.
Insiders Place Their Bets
In other news, Director Matthew J. Wallach sold 10,000 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $178.56, for a total transaction of $1,785,600.00. Following the transaction, the director now owns 3,145 shares of the company’s stock, valued at approximately $561,571.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Matthew J. Wallach sold 10,000 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $178.56, for a total transaction of $1,785,600.00. Following the transaction, the director now owns 3,145 shares of the company’s stock, valued at approximately $561,571.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Edward Chamberlain sold 160 shares of the company’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $169.42, for a total value of $27,107.20. Following the transaction, the director now directly owns 16,776 shares in the company, valued at approximately $2,842,189.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,818 shares of company stock valued at $2,296,277. Insiders own 13.23% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Guggenheim cut Veeva Systems from a “buy” rating to a “neutral” rating in a research note on Thursday, February 23rd. Barclays reduced their price objective on Veeva Systems from $205.00 to $197.00 and set an “overweight” rating for the company in a research note on Thursday, March 2nd. TD Cowen raised their price objective on Veeva Systems from $184.00 to $189.00 and gave the company a “market perform” rating in a research note on Monday, March 6th. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective on shares of Veeva Systems in a research note on Tuesday, March 21st. Finally, KeyCorp reduced their price objective on Veeva Systems from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 3rd. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Veeva Systems currently has an average rating of “Moderate Buy” and a consensus price target of $204.39.
Veeva Systems Company Profile
Veeva Systems, Inc engages in the provision of industry cloud solutions for the global life sciences industry. Its solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.
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