Circle Wealth Management LLC Has $1.60 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Circle Wealth Management LLC increased its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 131.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,613 shares of the technology company’s stock after purchasing an additional 4,325 shares during the quarter. Circle Wealth Management LLC’s holdings in Veeva Systems were worth $1,598,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VEEV. Advisors Asset Management Inc. acquired a new position in Veeva Systems in the 1st quarter worth about $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Veeva Systems during the third quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in Veeva Systems by 3,460.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the technology company’s stock valued at $33,000 after acquiring an additional 173 shares during the last quarter. DT Investment Partners LLC bought a new stake in Veeva Systems in the second quarter worth approximately $35,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Veeva Systems during the 3rd quarter valued at $49,000. 88.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Veeva Systems

In other news, insider Thomas D. Schwenger sold 1,126 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.01, for a total transaction of $270,251.26. Following the completion of the transaction, the insider now directly owns 27,013 shares in the company, valued at approximately $6,483,390.13. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.50% of the company’s stock.

Veeva Systems Price Performance

NYSE VEEV opened at $227.94 on Friday. The stock’s 50 day simple moving average is $215.71 and its 200 day simple moving average is $202.00. Veeva Systems Inc. has a one year low of $165.12 and a one year high of $240.68. The firm has a market cap of $36.91 billion, a PE ratio of 60.78, a price-to-earnings-growth ratio of 2.20 and a beta of 0.81.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Truist Financial upped their price target on Veeva Systems from $197.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, September 3rd. BNP Paribas initiated coverage on shares of Veeva Systems in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $286.00 price objective for the company. Robert W. Baird lowered their target price on shares of Veeva Systems from $251.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, October 28th. Royal Bank of Canada lifted their price objective on Veeva Systems from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, StockNews.com upgraded Veeva Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $236.92.

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.