Veeva Systems Inc. (NYSE:VEEV) Shares Sold by Oppenheimer & Co. Inc.

Posted by Defense World Staff on Aug 28th, 2023

Oppenheimer & Co. Inc. reduced its stake in Veeva Systems Inc. (NYSE:VEEV – Free Report) by 23.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,229 shares of the technology company’s stock after selling 1,286 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Veeva Systems were worth $777,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in VEEV. Penserra Capital Management LLC lifted its holdings in Veeva Systems by 9.3% during the 4th quarter. Penserra Capital Management LLC now owns 729 shares of the technology company’s stock worth $117,000 after buying an additional 62 shares in the last quarter. Toroso Investments LLC lifted its holdings in Veeva Systems by 4.9% during the 3rd quarter. Toroso Investments LLC now owns 1,318 shares of the technology company’s stock worth $217,000 after buying an additional 62 shares in the last quarter. Forum Financial Management LP lifted its holdings in Veeva Systems by 6.6% during the 1st quarter. Forum Financial Management LP now owns 1,038 shares of the technology company’s stock worth $220,000 after buying an additional 64 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Veeva Systems by 1.9% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 3,511 shares of the technology company’s stock worth $645,000 after buying an additional 65 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its holdings in Veeva Systems by 2.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 2,426 shares of the technology company’s stock worth $446,000 after buying an additional 69 shares in the last quarter. 80.07% of the stock is currently owned by institutional investors and hedge funds.

Veeva Systems Stock Performance

Shares of Veeva Systems stock opened at $189.13 on Monday. Veeva Systems Inc. has a 1 year low of $151.02 and a 1 year high of $218.33. The company has a market capitalization of $30.30 billion, a P/E ratio of 59.10, a PEG ratio of 3.46 and a beta of 0.96. The company’s fifty day moving average is $197.58 and its two-hundred day moving average is $183.94.

Veeva Systems (NYSE:VEEV – Get Free Report) last issued its quarterly earnings data on Wednesday, May 31st. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.09. Veeva Systems had a net margin of 23.85% and a return on equity of 10.88%. The company had revenue of $526.33 million for the quarter, compared to the consensus estimate of $515.47 million. As a group, equities analysts expect that Veeva Systems Inc. will post 2.7 earnings per share for the current year.

Insider Transactions at Veeva Systems

In other news, Director Paul Edward Chamberlain sold 160 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $189.22, for a total value of $30,275.20. Following the completion of the sale, the director now owns 16,942 shares in the company, valued at approximately $3,205,765.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Timothy S. Cabral sold 12,036 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $200.05, for a total value of $2,407,801.80. Following the completion of the sale, the director now owns 71,078 shares in the company, valued at approximately $14,219,153.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Edward Chamberlain sold 160 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $189.22, for a total transaction of $30,275.20. Following the completion of the sale, the director now owns 16,942 shares of the company’s stock, valued at approximately $3,205,765.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,425 shares of company stock worth $3,078,109. Company insiders own 10.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on VEEV. Guggenheim upgraded shares of Veeva Systems from a “neutral” rating to a “buy” rating and set a $226.00 target price on the stock in a report on Thursday, June 1st. Barclays increased their price objective on shares of Veeva Systems from $203.00 to $225.00 in a research report on Friday, June 23rd. Robert W. Baird reissued an “outperform” rating and issued a $235.00 price objective on shares of Veeva Systems in a research report on Friday, June 30th. KeyCorp increased their price objective on shares of Veeva Systems from $185.00 to $210.00 in a research report on Friday, June 2nd. Finally, StockNews.com assumed coverage on shares of Veeva Systems in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Veeva Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.86.

Get Our Latest Research Report on Veeva Systems

Veeva Systems Company Profile

(Free Report)

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and data 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.