Rating Action: Veeva Systems (NYSE:VEEV) Stock Rating Maintained at Canaccord Genuity; The $48 Target Indicates 9.84% Potential

November 23, 2016 - By Michael Collier

Rating Action: Veeva Systems (NYSE:VEEV) Stock Rating Maintained at Canaccord Genuity; The $48 Target Indicates 9.84% Potential

Veeva Systems (NYSE:VEEV) Rating

In an analyst report shared with investors on today, Canaccord Genuity maintained their Buy rating on Veeva Systems (NYSE:VEEV)‘s stock. The TP indicates a potential upside of 9.84% from firm’s close price.

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. $45 is the highest target while $24 is the lowest. The $36.30 average target is -16.93% below today’s ($43.7) stock price. Veeva Systems has been the topic of 24 analyst reports since August 28, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained the shares of VEEV in a report on Wednesday, August 31 with “Buy” rating. The rating was initiated by Raymond James with “Market Perform” on Wednesday, August 24. The rating was maintained by JP Morgan on Friday, May 27 with “Overweight”. On Friday, June 17 the stock rating was initiated by Bank of America with “Neutral”. The company was maintained on Wednesday, November 25 by Canaccord Genuity. On Wednesday, March 2 the stock rating was maintained by Morgan Stanley with “Overweight”. Needham maintained the shares of VEEV in a report on Wednesday, August 31 with “Buy” rating. Citigroup maintained Veeva Systems Inc (NYSE:VEEV) on Friday, May 27 with “Neutral” rating. Citigroup initiated the shares of VEEV in a report on Friday, October 30 with “Neutral” rating. The rating was maintained by Leerink Swann with “Market Perform” on Wednesday, November 25.

About 7,784 shares traded hands. 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.

Insitutional Activity: The institutional sentiment decreased to 1.74 in Q2 2016. Its down 0.05, from 1.79 in 2016Q1. The ratio dropped, 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.

Gam Holding Ag last reported 0.05% of its portfolio in the stock. Bnp Paribas Arbitrage Sa reported 479 shares or 0% of all its holdings. Artisan Prtn Lp has 811,016 shares for 0.06% of their US portfolio. The United Kingdom-based Legal General Group Pcl has invested 0% in Veeva Systems Inc (NYSE:VEEV). Invesco has 561,979 shares for 0.01% of their US portfolio. Clinton Inc, a New York-based fund reported 44,899 shares. Tiaa Cref Management Ltd Liability Co last reported 394,846 shares in the company. Fiera holds 826,087 shares or 0.16% of its portfolio. Finemark Bancorporation Trust holds 0.01% of its portfolio in Veeva Systems Inc (NYSE:VEEV) for 3,060 shares. Blackrock accumulated 34,999 shares or 0% of the stock. Paloma Prns Management has invested 0.02% of its portfolio in Veeva Systems Inc (NYSE:VEEV). Bancorporation Of Montreal Can last reported 33,977 shares in the company. Ibm Retirement Fund holds 0.01% of its portfolio in Veeva Systems Inc (NYSE:VEEV) for 9,698 shares. Deutsche Natl Bank Ag owns 878,650 shares or 0.02% of their US portfolio. Tygh reported 118,278 shares or 1.14% of all its holdings.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 37 sales for $35.72 million net activity. Faddis Jonathan also sold $20,155 worth of Veeva Systems Inc (NYSE:VEEV) on Wednesday, October 5. Mateo Alan sold $108,368 worth of stock or 2,716 shares. Zuppas Eleni Nitsa had sold 937 shares worth $37,949 on Thursday, September 1. Wallach Matthew J sold $3.19 million worth of stock. $57,066 worth of shares were sold by Lequient Frederic on Wednesday, September 7. $81,000 worth of shares were sold by CODD RONALD E F on Tuesday, September 6. Ritter Gordon sold $735,422 worth of stock.

Veeva Systems Inc. is a provider of cloud software solutions for the global life sciences industry. The company has a market cap of $5.63 billion. 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. It has a 107.34 P/E ratio.

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.”

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.

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. Zacks.com‘s article titled: “Can Veeva Systems (VEEV) Pull a Surprise in Q3 Earnings?” and published on November 17, 2016 is yet another important article.

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