Veeva Systems Inc. (VEEV) Could Help Your Portfolio. The Stock Formed Double Top Chart Pattern

May 16, 2018 - By Darrin Black

Veeva Systems Inc. (NYSE:VEEV) Logo

Investors sentiment decreased to 1.06 in 2017 Q4. Its down 0.57, from 1.63 in 2017Q3. It dropped, 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.
Toronto Dominion Fincl Bank invested 0% in Veeva Systems Inc. (NYSE:VEEV). Teacher Retirement Of Texas has 0.04% invested in Veeva Systems Inc. (NYSE:VEEV) for 106,543 shares. Prelude Management Limited Liability Corp holds 0.06% in Veeva Systems Inc. (NYSE:VEEV) or 13,062 shares. New York State Common Retirement Fund invested in 1.62M shares or 0.11% of the stock. Regions has invested 0% in Veeva Systems Inc. (NYSE:VEEV). Amalgamated National Bank reported 0.03% stake. 5.80M are owned by Brown Cap Mgmt Ltd Liability Co. Barbara Oil Communications stated it has 0.35% in Veeva Systems Inc. (NYSE:VEEV). Atlantic Group Ltd Com invested in 0.01% or 36,024 shares. Royal State Bank Of Canada has 0% invested in Veeva Systems Inc. (NYSE:VEEV). First American Bankshares holds 0.02% or 4,537 shares in its portfolio. Kbc Nv, Belgium-based fund reported 11,619 shares. New York-based Morgan Stanley has invested 0.2% in Veeva Systems Inc. (NYSE:VEEV). Principal Group has invested 0% in Veeva Systems Inc. (NYSE:VEEV). Moreover, Mark Sheptoff Financial Planning Limited Liability Corporation has 0.91% invested in Veeva Systems Inc. (NYSE:VEEV).

Since December 15, 2017, it had 0 insider purchases, and 22 selling transactions for $19.58 million activity. Lequient Frederic also sold $206,202 worth of Veeva Systems Inc. (NYSE:VEEV) shares. Zuppas Eleni Nitsa had sold 49,793 shares worth $3.85M on Tuesday, March 6. 25,000 shares valued at $1.91M were sold by Cabral Timothy S on Wednesday, March 14. MATEO ALAN had sold 603 shares worth $43,772. Wallach Matthew J also sold $927,409 worth of Veeva Systems Inc. (NYSE:VEEV) shares. Another trade for 2,462 shares valued at $186,571 was sold by Faddis Jonathan.

The chart of Veeva Systems Inc. (VEEV) shows a double top with $84.17 target or 9.00 % above today’s $77.22 share price. The 7 months chart pattern indicates low risk for the $11.06B company. It was reported on May, 16 by Finviz.com. If the $84.17 price target is reached, the company will be worth $995.04 million more. Double tops are rare but powerful chart patterns.

The stock increased 2.04% or $1.54 during the last trading session, reaching $77.22. About 341,133 shares traded. Veeva Systems Inc. (NYSE:VEEV) has risen 42.88% since May 16, 2017 and is uptrending. It has outperformed by 31.33% the S&P500.

Analysts await Veeva Systems Inc. (NYSE:VEEV) to report earnings on May, 24 after the close. They expect $0.23 EPS, up 64.29 % or $0.09 from last year’s $0.14 per share. VEEV’s profit will be $32.93M for 83.93 P/E if the $0.23 EPS becomes a reality. After $0.17 actual EPS reported by Veeva Systems Inc. for the previous quarter, Wall Street now forecasts 35.29 % 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 12 analyst reports since December 5, 2017 according to SRatingsIntel. The firm has “Buy” rating given on Friday, April 13 by Canaccord Genuity. Morgan Stanley maintained it with “Overweight” rating and $76 target in Thursday, March 1 report. On Wednesday, December 6 the stock rating was maintained by Canaccord Genuity with “Buy”. The firm has “Hold” rating given on Tuesday, December 5 by Raymond James. As per Tuesday, January 30, the company rating was upgraded by Morgan Stanley. The rating was downgraded by JP Morgan to “Neutral” on Friday, March 9. The firm has “Buy” rating by Canaccord Genuity given on Wednesday, February 28. The rating was maintained by Stifel Nicolaus on Wednesday, February 28 with “Buy”. The stock of Veeva Systems Inc. (NYSE:VEEV) earned “Market Outperform” rating by JMP Securities on Friday, March 23. KeyBanc Capital Markets maintained the stock with “Overweight” rating in Friday, March 2 report.

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 $11.06 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 83.94 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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