Shares of Veeva Systems (VEEV) Sees Large Outflow of Money

Veeva Systems (VEEV): The stock had negative money flow to the tune of ($1.57 million) on Thursday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $13.18 million, whereas, the outflow of money on downticks was $14.74 million and the ratio between the two was 0.89. The block trade had a negative net money flow of ($4.9 million). The total block trade value undertaken on upticks was $0.8 million. On the other hand, downticks amounted to $5.7 million of the traded value, which shows distribution in the stock by traders. The ratio between uptick and downtick was 0.14. Veeva Systems (VEEV) closed with marginal gains of 145 cents to end the day at $36.33, an increase of 4.16% over the previous days close. The stock recorded 5.95% for the week.


Veeva Systems (VEEV) : The consensus price target for Veeva Systems (VEEV) is $36 for the short term with a standard deviation of $3.46. The most optimist securities analyst among the 7 who monitor the stock believes that the stock can reach $40, however, the pessimist price target for the company is $31. The stock has recorded a 20-day Moving Average of 7.01% and the 50-Day Moving Average is 16.91%.

Veeva Systems (NYSE:VEEV): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $35.21 and $35.21 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $36.79. The buying momentum continued till the end and the stock did not give up its gains. It closed at $36.57, notching a gain of 4.85% for the day. The total traded volume was 3,465,188 . The stock had closed at $34.88 on the previous day.

Veeva Systems Inc. (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Companys industry cloud for life sciences consists of the solution sets: Veeva CRM, its core customer relationship management solution and related solutions; Veeva Vault, its regulated content management and collaboration solutions; Veeva Network, its customer master data management solution, and Veeva OpenKey, its data and related services offerings. It provides updates to its software solutions three times per year. Updates are included in its subscription and are not subject to an additional fee. Upgrades are implemented by Veeva in its cloud computing environment such that when a new update is put into production, the prior version is replaced. Veeva OpenKey customer data is available in Australia, China, France, Italy, the United Kingdom and the United States.

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