Circle Wealth Management LLC Trims Stock Position in Veeva Systems Inc. (NYSE:VEEV)

Circle Wealth Management LLC cut its position in Veeva Systems Inc. (NYSE:VEEV) by 10.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,786 shares of the technology company’s stock after selling 827 shares during the quarter. Circle Wealth Management LLC’s holdings in Veeva Systems were worth $1,427,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Veeva Systems by 138.9% in 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 in the last quarter. Smith Group Asset Management LLC grew its position in Veeva Systems by 2.2% in the fourth quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock worth $17,360,000 after acquiring an additional 1,749 shares in the last quarter. Venturi Wealth Management LLC grew its position in Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after acquiring an additional 163 shares in the last quarter. Nordea Investment Management AB increased its stake in Veeva Systems by 21.6% in the fourth quarter. Nordea Investment Management AB now owns 261,131 shares of the technology company’s stock valued at $55,073,000 after acquiring an additional 46,440 shares during the last quarter. Finally, Clean Yield Group purchased a new stake in Veeva Systems during the fourth quarter valued at about $3,487,000. 88.20% of the stock is owned by institutional investors.

Veeva Systems Price Performance

Shares of Veeva Systems stock opened at $237.91 on Thursday. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93. The firm’s 50-day moving average is $227.22 and its 200 day moving average is $225.01. The stock has a market cap of $38.71 billion, a price-to-earnings ratio of 58.74, a PEG ratio of 1.89 and a beta of 0.96.

Insider Buying and Selling

In other Veeva Systems news, Director Timothy S. Cabral sold 3,882 shares of Veeva Systems stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $216.83, for a total value of $841,734.06. Following the completion of the sale, the director now owns 5,500 shares of the company’s stock, valued at approximately $1,192,565. The trade was a 41.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan Faddis sold 787 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the completion of the transaction, the senior vice president now owns 8,668 shares in the company, valued at approximately $1,960,701.60. This trade represents a 8.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,869 shares of company stock worth $1,284,917 in the last three months. Insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

VEEV has been the subject of a number of research reports. Truist Financial upped their price objective on Veeva Systems from $210.00 to $217.00 and gave the stock a “hold” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. upped their target price on Veeva Systems from $218.00 to $249.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Piper Sandler decreased their price target on shares of Veeva Systems from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Scotiabank upped their price objective on shares of Veeva Systems from $240.00 to $245.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Finally, Robert W. Baird lifted their target price on shares of Veeva Systems from $283.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.92.

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.