Notable Runner: Could Veeva Systems Inc Change Direction After Today’s Significant Increase?

Notable Runner: Could Veeva Systems Inc Change Direction After Today's Significant Increase?

The stock of Veeva Systems Inc (NYSE:VEEV) is a huge mover today! About 1.46M shares traded hands or 37.74% up from the average. Veeva Systems Inc (NYSE:VEEV) has risen 55.89% since April 21, 2016 and is uptrending. It has outperformed by 50.56% the S&P500.
The move comes after 7 months positive chart setup for the $6.08B company. It was reported on Nov, 23 by Barchart.com. We have $46.64 PT which if reached, will make NYSE:VEEV worth $243.20 million more.

Veeva Systems Inc (NYSE:VEEV) Ratings Coverage

Out of 13 analysts covering Veeva Systems (NYSE:VEEV), 6 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 46% are positive. Veeva Systems has been the topic of 26 analyst reports since August 28, 2015 according to StockzIntelligence Inc. The stock of Veeva Systems Inc (NYSE:VEEV) has “Buy” rating given on Wednesday, November 23 by Stifel Nicolaus. As per Wednesday, August 31, the company rating was maintained by Needham. The stock has “Buy” rating given by Canaccord Genuity on Friday, May 27. Deutsche Bank maintained the shares of VEEV in a report on Friday, May 27 with “Hold” rating. Bank of America initiated Veeva Systems Inc (NYSE:VEEV) on Friday, June 17 with “Neutral” rating. Raymond James initiated the stock with “Market Perform” rating in Wednesday, August 24 report. The stock of Veeva Systems Inc (NYSE:VEEV) has “Overweight” rating given on Wednesday, March 2 by Morgan Stanley. The stock has “Neutral” rating given by Citigroup on Friday, May 27. The company was maintained on Friday, May 27 by JP Morgan. On Wednesday, November 23 the stock rating was maintained by Canaccord Genuity with “Buy”.

According to Zacks Investment Research, “Veeva Systems Inc. operates as a provider of industry-specific, cloud-based software solutions for the life sciences industry. It offers enterprise applications, a multichannel platform, customer relationship management, and content management solutions. The Company provides its solutions to pharmaceutical, animal health, and biotechnology companies. Veeva Systems Inc. is headquartered in Pleasanton, California.”

Insitutional Activity: The institutional sentiment decreased to 1.74 in Q2 2016. Its down 0.05, from 1.79 in 2016Q1. The ratio dived, as 18 funds sold all Veeva Systems Inc shares owned while 50 reduced positions. 48 funds bought stakes while 74 increased positions. They now own 92.06 million shares or 3.74% more from 88.74 million shares in 2016Q1.
Allianz Asset Management Ag has 83,190 shares for 0% of their US portfolio. Fred Alger Mgmt Inc last reported 595,297 shares in the company. Wells Fargo And Com Mn reported 7.22M shares or 0.1% of all its holdings. The United Kingdom-based Ahl Partners Llp has invested 0.08% in Veeva Systems Inc (NYSE:VEEV). Profund Advsrs accumulated 28,910 shares or 0.05% of the stock. The New York-based Capstone Invest Advsr Limited Liability Corporation has invested 0.09% in Veeva Systems Inc (NYSE:VEEV). Pacad Investment reported 23,500 shares or 0.11% of all its holdings. Blair William And Il owns 1.10 million shares or 0.35% of their US portfolio. Qs Ltd Com accumulated 0% or 93 shares. California State Teachers Retirement holds 0.01% of its portfolio in Veeva Systems Inc (NYSE:VEEV) for 203,119 shares. The Georgia-based Invesco Limited has invested 0.01% in Veeva Systems Inc (NYSE:VEEV). Deutsche Comml Bank Ag holds 878,650 shares or 0.02% of its portfolio. Moreover, Carroll Fincl has 0% invested in Veeva Systems Inc (NYSE:VEEV) for 225 shares. Susquehanna Intl Group Ltd Liability Partnership accumulated 0% or 7,784 shares. Vanguard Gp owns 6.18M shares or 0.01% of their US portfolio.

Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 37 sales for $35.72 million net activity. $108,368 worth of shares were sold by Mateo Alan on Monday, November 14. Ritter Gordon also sold $718,297 worth of Veeva Systems Inc (NYSE:VEEV) shares. Shares for $3.19 million were sold by Wallach Matthew J. On Wednesday, November 2 Faddis Jonathan sold $19,135 worth of the stock or 500 shares. Shares for $80,620 were sold by CODD RONALD E F on Wednesday, October 5. The insider Lequient Frederic sold 1,408 shares worth $57,066. $1.76 million worth of Veeva Systems Inc (NYSE:VEEV) shares were sold by Cabral Timothy S.

More news for Veeva Systems Inc (NYSE:VEEV) were recently published by: Nasdaq.com, which released: “Earnings Reaction History: Veeva Systems Inc., 60.0% Follow-Through Indicator …” on November 22, 2016. Investorplace.com‘s article titled: “3 Stocks to Watch: Hewlett Packard Enterprise Co (HPE), HP Inc (HPQ) and Veeva …” and published on November 23, 2016 is yet another important article.

VEEV Company Profile

Veeva Systems Inc. (Veeva), incorporated on January 12, 2007, is a well-known provider of cloud software solutions for the global life sciences industry. The Firm offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data. The Firm offers solutions to areas, including the Veeva CRM family of applications for multichannel customer relationship management to enable coordinated and personalized customer engagement through multiple touch points; Veeva Vault for regulated content management and information management solutions to enable the management of content-centric processes; the Veeva Network master data management solutions for the management of customer master and product master data, and Veeva’s data and data services offerings, including Veeva OpenData for customer reference data and Veeva KOL Data for data.

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