Veeva Systems (VEEV) : Traders are bullish on Veeva Systems (VEEV) as it has outperformed the S&P 500 by a wide margin of 7.15% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.09%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.15% in the last 1 week, and is up 8.25% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 5.08% and the 50-Day Moving Average is 9.75%. Veeva Systems (NYSE:VEEV): stock turned positive on Friday. Though the stock opened at $38.99, the bulls momentum made the stock top out at $39.43 level for the day. The stock recorded a low of $38.81 and closed the trading day at $39.35, in the green by 1.26%. The total traded volume for the day was 905,723. The stock had closed at $38.86 in the previous days trading.
The company Insiders own 19.17% of Veeva Systems shares according to the proxy statements. Institutional Investors own 65.95% of Veeva Systems shares. During last six month period, the net percent change held by insiders has seen a change of -86.21%. Also, Bank of America initiates coverage on Veeva Systems (NYSE:VEEV). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm announces the price target at $40 per share. The rating by the firm was issued on June 17, 2016.
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.