Analysts at Canaccord Genuity Reiterate their Past ‘”Buy”’ rating on Shares Veeva Systems (NYSE:VEEV), Set a $85.0000 PT

May 25, 2018 - By Vivian Park

Veeva Systems Inc. (NYSE:VEEV) Logo

Investors sentiment decreased to 1.06 in Q4 2017. Its down 0.57, from 1.63 in 2017Q3. It worsened, as 51 investors sold Veeva Systems Inc. shares while 91 reduced holdings. 54 funds opened positions while 96 raised stakes. 98.12 million shares or 2.33% more from 95.88 million shares in 2017Q3 were reported.

First Quadrant L P Ca reported 1,668 shares. Riverhead Mgmt Llc reported 0.01% of its portfolio in Veeva Systems Inc. (NYSE:VEEV). Exchange Cap Mgmt reported 0.44% stake. Daiwa Securities Gp Inc invested 0% in Veeva Systems Inc. (NYSE:VEEV). Hanseatic Svcs Inc accumulated 0.14% or 2,437 shares. Paloma Prtn Mgmt reported 0.02% in Veeva Systems Inc. (NYSE:VEEV). Nordea Inv Management holds 136,173 shares or 0.02% of its portfolio. Moreover, Alps Advsrs has 0% invested in Veeva Systems Inc. (NYSE:VEEV). Glynn Cap Management Limited Com has 290,602 shares. Morgan Stanley invested in 0.2% or 13.51 million shares. Shell Asset Mgmt accumulated 4,714 shares or 0.01% of the stock. Moreover, Meeder Asset Management has 0% invested in Veeva Systems Inc. (NYSE:VEEV) for 191 shares. Covington Cap has invested 0% of its portfolio in Veeva Systems Inc. (NYSE:VEEV). Twin Mgmt accumulated 27,290 shares. The Illinois-based North Star Investment Mgmt Corporation has invested 0% in Veeva Systems Inc. (NYSE:VEEV).

Since December 15, 2017, it had 0 buys, and 23 sales for $20.51 million activity. The insider Faddis Jonathan sold 677 shares worth $47,018. Shares for $3.84M were sold by Cabral Timothy S on Wednesday, March 7. 1,993 shares were sold by BARABE TIMOTHY C, worth $155,773. The insider MATEO ALAN sold 701 shares worth $41,254. 24,000 shares were sold by Wallach Matthew J, worth $1.38 million on Wednesday, February 14. Shares for $83,610 were sold by SEKHRI PAUL J.

Veeva Systems (NYSE:VEEV) Rating Reaffirmed

Veeva Systems (NYSE:VEEV) just had their share rating of a ‘”Buy”‘ issued by research analysts at Canaccord Genuity, who now has a $85.0000 target price per share on the $11.01 billion market cap company or a 10.49 % upside potential. This key information was disclosed in a note on Friday, 25 May.

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 has $81 highest and $70 lowest target. $76.29’s average target is -0.83% below currents $76.93 stock price. Veeva Systems had 12 analyst reports since December 5, 2017 according to SRatingsIntel. On Friday, March 23 the stock rating was maintained by JMP Securities with “Market Outperform”. The company was maintained on Wednesday, December 6 by Canaccord Genuity. The firm has “Hold” rating given on Tuesday, December 5 by Raymond James. The firm earned “Buy” rating on Friday, April 13 by Canaccord Genuity. The firm has “Hold” rating by J.P. Morgan given on Friday, March 9. Stifel Nicolaus maintained the shares of VEEV in report on Wednesday, February 28 with “Buy” rating. The stock of Veeva Systems Inc. (NYSE:VEEV) has “Overweight” rating given on Thursday, March 1 by Morgan Stanley. The firm has “Overweight” rating given on Friday, March 2 by KeyBanc Capital Markets. JP Morgan downgraded the stock to “Neutral” rating in Friday, March 9 report. The rating was upgraded by Morgan Stanley on Tuesday, January 30 to “Overweight”.

The stock decreased 0.31% or $0.24 during the last trading session, reaching $76.93. About 1.78M shares traded or 54.92% up from the average. Veeva Systems Inc. (NYSE:VEEV) has risen 42.88% since May 25, 2017 and is uptrending. It has outperformed by 31.33% the S&P500.

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 $11.01 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 83.62 P/E ratio. It also provides Veeva Network master data management solutions for the management of customer master and product master data.

More important recent Veeva Systems Inc. (NYSE:VEEV) news were published by: Seekingalpha.com which released: “Veeva Systems reports Q1 beats, upside guidance” on May 24, 2018, also Benzinga.com published article titled: “7 Biggest Price Target Changes For Friday”, Benzinga.com published: “Earnings Scheduled For May 24, 2018” on May 24, 2018. More interesting news about Veeva Systems Inc. (NYSE:VEEV) was released by: Streetinsider.com and their article: “Pre-Open Movers 05/25: (VTGN) (FL) (NWY) Higher; (ZOES) (RMTI) (HIBB) Lower (more…)” with publication date: May 25, 2018.

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

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