Veeva Systems Inc’s recent filing unveils that its Director Cabral Timothy S unloaded Company’s shares for reported $3.39 million on Mar 07 ’24. In the deal valued at $226.04 per share,15,000 shares were sold. As a result of this transaction, Cabral Timothy S now holds 23,391 shares worth roughly $5.03 million.
Then, Wallach Matthew J sold 5,000 shares, generating $1,017,147 in total proceeds. Upon selling the shares at $203.43, the Director now owns 104,025 shares.
Before that, Schwenger Thomas D. sold 1,238 shares. Veeva Systems Inc shares valued at $260,001 were divested by the President and COO at a price of $210.02 per share. As a result of the transaction, Schwenger Thomas D. now holds 24,342 shares, worth roughly $5.23 million.
Wells Fargo upgraded its Veeva Systems Inc [VEEV] rating to an Overweight from a an Equal weight in a research note published on October 25, 2023; the price target was increased to $229 from $211. A number of analysts have revised their coverage, including Jefferies’s analysts, who began to cover the stock in mid October with a ‘”a Buy”‘ rating. Morgan Stanley also remained covering VEEV and has decreased its forecast on June 28, 2023 with a “an Underweight” recommendation from previously “an Equal-weight” rating. Guggenheim revised its rating on June 01, 2023. It rated VEEV as “a Buy” which previously was an “a Neutral”.
Price Performance Review of VEEV
On Monday, Veeva Systems Inc [NYSE:VEEV] saw its stock jump 0.11% to $214.97. Over the last five days, the stock has lost -6.69%. Veeva Systems Inc shares have risen nearly 11.66% since the year began. Nevertheless, the stocks have risen 19.38% over the past one year. While a 52-week high of $236.90 was reached on 03/14/24, a 52-week low of $160.21 was recorded on 01/08/24. SMA at 50 days reached $221.52, while 200 days put it at $202.13. A total of 0.62 million shares were traded, compared to the trading of 1.16 million shares in the previous session.
Levels Of Support And Resistance For VEEV Stock
The 24-hour chart illustrates a support level at 213.74, which if violated will result in even more drops to 212.51. On the upside, there is a resistance level at 216.37. A further resistance level may holdings at 217.76. The Relative Strength Index (RSI) on the 14-day chart is 36.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -10.75, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.24%. Stochastics %K at 11.07% indicates the stock is a buying.
How much short interest is there in Veeva Systems Inc?
A steep rise in short interest was recorded in Veeva Systems Inc stocks on Mar 15, 2024, growing by 0.24 million shares to a total of 2.47 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 2.23 million shares. There was a rise of 9.72%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.54% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.31.
