Veeva Systems (VEEV) is Initiated by Needham to Buy, Price Target at $33

Veeva Systems (VEEV) is Initiated by Needham to Buy according to the research report released to the investors. The brokerage firm has set the Price Target of the shares at $33. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.

Veeva Systems Inc. is up 23.29% in the last 3-month period. Year-to-Date the stock performance stands at 9.24%.The company shares have rallied 10.37% from its 1 Year high price. On Mar 3, 2015, the shares registered one year high at $33.10 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $27.68 and the 200 Day Moving Average price is recorded at $26.46.

Veeva Systems Inc. (NYSE:VEEV) has dropped 0.14% during the past week, however, the bigger picture is still very bullish; the shares have posted positive gains of 4.91% in the last 4 weeks. In the past week, the shares have outperformed the S&P 500 by 0.69% and the outperformance increases to 7.36% for the last 4 weeks.

Shares of Veeva Systems Inc. (NYSE:VEEV) ended Thursday session in red amid volatile trading. The shares closed down 0.1 points or 0.35% at $28.85 with 432,103 shares getting traded. Post opening the session at $28.8, the shares hit an intraday low of $28.6601 and an intraday high of $29.02 and the price vacillated in this range throughout the day. The company has a market cap of $3,837 million and the number of outstanding shares have been calculated to be 132,995,576 shares. The 52-week high of Veeva Systems Inc. (NYSE:VEEV) is $33.1 and the 52-week low is $22.11.

Currently the company Insiders own 34.1% of Veeva Systems Inc. shares according to the proxy statements. Institutional Investors own 57.27% of Veeva Systems Inc. shares. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange,The officer (President) of Veeva Systems Inc, Wallach Matthew J sold 84,000 shares at $28.82 on December 28, 2015. The Insider selling transaction had a total value worth of $2,420,880. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Veeva Systems Inc. (Veeva) which provides industry-specific, cloud-based software solutions for the life sciences industry. Veeva delivers industry-specific cloud-based solutions including data, software, and services to the global life sciences industry. The Companys solutions enable pharmaceutical and other life sciences companies. As of January 31, 2013, it served 51, 95 and 134 life sciences customers, respectively. As of August 31, 2013, it served approximately 170 life sciences customers, including 33 of the 50 largest global pharmaceutical companies. The Companys solutions have been implemented in over 75 countries.