Oberndorf William E Has $9.29 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Oberndorf William E increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 22.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,780 shares of the technology company’s stock after acquiring an additional 9,171 shares during the quarter. Veeva Systems makes up 16.3% of Oberndorf William E’s investment portfolio, making the stock its 4th largest position. Oberndorf William E’s holdings in Veeva Systems were worth $9,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Veeva Systems by 7.5% in the first quarter. Vanguard Group Inc. now owns 14,150,070 shares of the technology company’s stock worth $3,278,430,000 after purchasing an additional 991,208 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Veeva Systems by 9.0% in the 1st quarter. Van ECK Associates Corp now owns 1,934,150 shares of the technology company’s stock worth $448,123,000 after buying an additional 159,085 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Veeva Systems by 17.5% during the first quarter. TD Asset Management Inc now owns 1,227,223 shares of the technology company’s stock valued at $284,335,000 after buying an additional 182,762 shares during the period. Swedbank AB raised its holdings in shares of Veeva Systems by 4.9% during the second quarter. Swedbank AB now owns 1,031,064 shares of the technology company’s stock valued at $188,695,000 after acquiring an additional 48,402 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Veeva Systems by 1,122.3% in the second quarter. Principal Financial Group Inc. now owns 912,223 shares of the technology company’s stock worth $166,946,000 after acquiring an additional 837,593 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Veeva Systems news, SVP Jonathan Faddis sold 2,353 shares of Veeva Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $200.00, for a total value of $470,600.00. Following the completion of the sale, the senior vice president now owns 9,035 shares of the company’s stock, valued at approximately $1,807,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 10.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

VEEV has been the subject of several research reports. UBS Group upped their price objective on shares of Veeva Systems from $185.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Veeva Systems in a research report on Thursday, August 29th. Canaccord Genuity Group decreased their target price on Veeva Systems from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, May 31st. Citigroup upped their price target on Veeva Systems from $256.00 to $273.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Finally, Stifel Nicolaus lowered their price objective on Veeva Systems from $250.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Veeva Systems presently has a consensus rating of “Moderate Buy” and an average price target of $229.96.

Veeva Systems Stock Performance

Shares of NYSE:VEEV opened at $214.42 on Friday. The business has a 50-day simple moving average of $198.72 and a two-hundred day simple moving average of $201.80. The firm has a market cap of $34.72 billion, a price-to-earnings ratio of 63.25, a price-to-earnings-growth ratio of 2.12 and a beta of 0.81. Veeva Systems Inc. has a fifty-two week low of $162.72 and a fifty-two week high of $236.90.

About Veeva Systems

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.