Oppenheimer & Co. Inc. acquired a new position in shares of Veeva Systems Inc (NYSE:VEEV) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 10,515 shares of the technology company’s stock, valued at approximately $808,000.
A number of other institutional investors also recently bought and sold shares of the business. Champlain Investment Partners LLC raised its stake in shares of Veeva Systems by 154.0% during the 1st quarter. Champlain Investment Partners LLC now owns 1,109,730 shares of the technology company’s stock worth $81,032,000 after buying an additional 672,790 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Veeva Systems by 24.2% during the 2nd quarter. First Trust Advisors LP now owns 2,553,247 shares of the technology company’s stock worth $196,243,000 after buying an additional 497,318 shares in the last quarter. BlackRock Inc. raised its stake in shares of Veeva Systems by 5.4% during the 2nd quarter. BlackRock Inc. now owns 6,503,202 shares of the technology company’s stock worth $499,836,000 after buying an additional 330,441 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Veeva Systems during the 1st quarter worth approximately $22,161,000. Finally, Chicago Capital LLC purchased a new position in shares of Veeva Systems during the 1st quarter worth approximately $17,732,000. 76.02% of the stock is owned by institutional investors.
NYSE VEEV opened at $101.71 on Friday. Veeva Systems Inc has a 1-year low of $52.17 and a 1-year high of $105.04. The company has a market capitalization of $14.49 billion, a P/E ratio of 110.55, a PEG ratio of 4.77 and a beta of 1.54.
A number of brokerages have recently issued reports on VEEV. Deutsche Bank increased their target price on Veeva Systems from $55.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, May 25th. Morgan Stanley increased their target price on Veeva Systems from $85.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, August 16th. Zacks Investment Research raised Veeva Systems from a “hold” rating to a “strong-buy” rating and set a $117.00 target price for the company in a research note on Wednesday, August 29th. Guggenheim began coverage on Veeva Systems in a research note on Tuesday, August 7th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, KeyCorp reaffirmed a “buy” rating on shares of Veeva Systems in a research note on Thursday, August 23rd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $94.29.
In other Veeva Systems news, CFO Timothy S. Cabral sold 25,000 shares of the firm’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $81.50, for a total transaction of $2,037,500.00. Following the completion of the transaction, the chief financial officer now owns 25,000 shares of the company’s stock, valued at $2,037,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jonathan Faddis sold 3,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $101.48, for a total value of $304,440.00. Following the transaction, the senior vice president now directly owns 5,211 shares of the company’s stock, valued at approximately $528,812.28. The disclosure for this sale can be found here. Insiders sold a total of 148,403 shares of company stock valued at $12,448,984 over the last ninety days. 15.97% of the stock is currently owned by company insiders.
Veeva Systems Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, data solutions, and master data management solutions; and Veeva Vault, a cloud-based enterprise content management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
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