What’s Propelling Veeva Systems Inc. (VEEV) to Reach 52-Week High?

June 17, 2018 - By Henry Gaston

Veeva Systems Inc. (NYSE:VEEV) Logo

Investors sentiment increased to 1.4 in Q1 2018. Its up 0.34, from 1.06 in 2017Q4. It is positive, as 25 investors sold Veeva Systems Inc. shares while 104 reduced holdings. 79 funds opened positions while 102 raised stakes. 99.65 million shares or 1.56% more from 98.12 million shares in 2017Q4 were reported.
Amundi Pioneer Asset Mgmt reported 242,708 shares. Financial Svcs Corporation reported 0% in Veeva Systems Inc. (NYSE:VEEV). 38,935 were reported by Teachers Retirement Of The State Of Kentucky. Fred Alger Mngmt Inc holds 0.32% of its portfolio in Veeva Systems Inc. (NYSE:VEEV) for 954,312 shares. 289,912 are owned by Nomura Holdings Inc. 22 were accumulated by Department Mb Fin Bank & Trust N A. Metropolitan Life Insur Company New York stated it has 0% in Veeva Systems Inc. (NYSE:VEEV). Sg Americas Secs Limited owns 5,828 shares. Nomura Asset Management Limited, a Japan-based fund reported 14,100 shares. Vantage Advsr Lc stated it has 100 shares or 0% of all its holdings. Federated Invsts Pa accumulated 3.87 million shares. Pdts Partners Lc reported 166,051 shares. Champlain Investment Ptnrs Lc reported 1.11M shares. Invesco Ltd reported 34,834 shares. Bell Bank & Trust has 0.11% invested in Veeva Systems Inc. (NYSE:VEEV) for 4,735 shares.

Since December 18, 2017, it had 0 buys, and 28 sales for $22.14 million activity. $114,140 worth of Veeva Systems Inc. (NYSE:VEEV) shares were sold by CODD RONALD E F. Another trade for 2,462 shares valued at $186,571 was made by Faddis Jonathan on Wednesday, March 7. Cabral Timothy S sold 25,000 shares worth $1.91 million. $300,430 worth of Veeva Systems Inc. (NYSE:VEEV) shares were sold by SEKHRI PAUL J. Another trade for 2,875 shares valued at $206,202 was made by Lequient Frederic on Thursday, March 1. $3.85M worth of stock was sold by Zuppas Eleni Nitsa on Tuesday, March 6.

The stock of Veeva Systems Inc. (NYSE:VEEV) hit a new 52-week high and has $85.94 target or 3.00 % above today’s $83.44 share price. The 6 months bullish chart indicates low risk for the $11.97B company. The 1-year high was reported on Jun, 17 by Barchart.com. If the $85.94 price target is reached, the company will be worth $359.07 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.49% or $0.41 during the last trading session, reaching $83.44. About 1.61M shares traded or 54.93% up from the average. Veeva Systems Inc. (NYSE:VEEV) has risen 24.78% since June 17, 2017 and is uptrending. It has outperformed by 12.21% the S&P500.

Analysts await Veeva Systems Inc. (NYSE:VEEV) to report earnings on August, 23. They expect $0.25 earnings per share, up 66.67 % or $0.10 from last year’s $0.15 per share. VEEV’s profit will be $35.86 million for 83.44 P/E if the $0.25 EPS becomes a reality. After $0.23 actual earnings per share reported by Veeva Systems Inc. for the previous quarter, Wall Street now forecasts 8.70 % EPS growth.

Veeva Systems Inc. (NYSE:VEEV) Ratings Coverage

Among 9 analysts covering Veeva Systems (NYSE:VEEV), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. Veeva Systems had 13 analyst reports since January 30, 2018 according to SRatingsIntel. Stifel Nicolaus maintained Veeva Systems Inc. (NYSE:VEEV) on Wednesday, February 28 with “Buy” rating. JP Morgan downgraded the shares of VEEV in report on Friday, March 9 to “Neutral” rating. The stock of Veeva Systems Inc. (NYSE:VEEV) has “Market Outperform” rating given on Friday, March 23 by JMP Securities. J.P. Morgan downgraded Veeva Systems Inc. (NYSE:VEEV) rating on Friday, March 9. J.P. Morgan has “Hold” rating and $77.0 target. The rating was maintained by Morgan Stanley on Friday, May 25 with “Overweight”. The stock has “Overweight” rating by Morgan Stanley on Tuesday, January 30. The firm has “Hold” rating given on Friday, May 25 by Deutsche Bank. Canaccord Genuity maintained it with “Buy” rating and $8500 target in Friday, May 25 report. As per Friday, April 13, the company rating was maintained by Canaccord Genuity. KeyBanc Capital Markets maintained the stock with “Overweight” rating in Friday, March 2 report.

More news for Veeva Systems Inc. (NYSE:VEEV) were recently published by: Fool.com, which released: “4 Reasons to Buy Veeva Systems Stock” on May 30, 2018. Fool.com‘s article titled: “Better Buy: Veeva Systems Inc. vs. Cerner” and published on May 26, 2018 is yet another important article.

Veeva Systems Inc. provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, and internationally. The company has market cap of $11.97 billion. The firm offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, which allow pharmaceutical and biotechnology companies to target and support sales and marketing to physicians, other healthcare professionals, and healthcare organizations through various touch points, including in-person, email, and online; and Veeva Vault, a cloud enterprise content management platform and suite of applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, and quality. It has a 90.7 P/E ratio. It also provides Veeva Network master data management solutions for the management of customer master and product master data.

Veeva Systems Inc. (NYSE:VEEV) Institutional Positions Chart

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