Circle Wealth Management LLC Acquires 4,325 Shares of Veeva Systems Inc. (NYSE:VEEV)

Circle Wealth Management LLC grew its stake in Veeva Systems Inc. (NYSE:VEEV) by 131.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,613 shares of the technology company’s stock after buying an additional 4,325 shares during the quarter. Circle Wealth Management LLC’s holdings in Veeva Systems were worth $1,598,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. General American Investors Co. Inc. acquired a new stake in shares of Veeva Systems in the 3rd quarter valued at about $5,133,000. Procyon Advisors LLC acquired a new position in Veeva Systems during the 3rd quarter worth approximately $712,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Veeva Systems by 44.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 29,782 shares of the technology company’s stock valued at $5,450,000 after purchasing an additional 9,232 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Veeva Systems by 138.9% during the 3rd 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. Finally, Oppenheimer Asset Management Inc. boosted its position in Veeva Systems by 3.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 78,000 shares of the technology company’s stock valued at $16,370,000 after purchasing an additional 2,733 shares during the last quarter. Institutional investors own 88.20% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the topic of several analyst reports. Robert W. Baird dropped their price target on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. TD Cowen upped their price objective on shares of Veeva Systems from $180.00 to $192.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Barclays raised their price objective on shares of Veeva Systems from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. BNP Paribas initiated coverage on Veeva Systems in a research report on Tuesday, October 8th. They set an “outperform” rating and a $286.00 price objective on the stock. Finally, Scotiabank initiated coverage on shares of Veeva Systems in a research report on Monday, November 18th. They issued a “sector perform” rating and a $235.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus price target of $236.92.

Insider Buying and Selling at Veeva Systems

In other Veeva Systems news, insider Thomas D. Schwenger sold 1,126 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.01, for a total transaction of $270,251.26. Following the transaction, the insider now owns 27,013 shares in the company, valued at approximately $6,483,390.13. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

Shares of NYSE:VEEV opened at $227.94 on Friday. Veeva Systems Inc. has a 1 year low of $165.12 and a 1 year high of $240.68. The business’s 50-day moving average is $215.71 and its 200-day moving average is $202.00. The company has a market capitalization of $36.91 billion, a price-to-earnings ratio of 60.78, a P/E/G ratio of 2.20 and a beta of 0.81.

Veeva Systems (NYSE:VEEV) last issued its earnings results on Wednesday, August 28th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.04 by $0.03. The company had revenue of $676.18 million during the quarter, compared to the consensus estimate of $667.21 million. Veeva Systems had a return on equity of 13.30% and a net margin of 23.91%. Analysts anticipate that Veeva Systems Inc. will post 4.19 EPS for the current year.

Veeva Systems 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.