Large Inflow of Money Detected in Veeva Systems

Veeva Systems (VEEV) stock had a bullish inflow of $28.17 million worth of trades on uptick and an outflow of $22.4 million in downticks on Tuesday. The total uptick to downtick ratio stood at 1.26. The net money flow into the stock was $5.77 million. The money flow data, which is calculated as the dollar value of composite uptick minus the downtick trades indicated bullish. The block trades had a total money flow of $6.78 million. $6.78 million of block trade during Uptick was observed, which shows continued buying by the smart money on every weakness. However, Veeva Systems (VEEV) stock traded down $1.03 , and reached $37.64, a drop of -2.66% over the previous day. On a weekly basis, the stock is -3.01%, over the previous weeks close.


Also, Raymond James initiates coverage on Veeva Systems (NYSE:VEEV) The shares have been rated Market Perform. The rating by the firm was issued on August 24, 2016.

Veeva Systems Inc. has lost 5.21% in the last five trading days and dropped 1.65% in the last 4 weeks. Veeva Systems Inc. is up 11.96% in the last 3-month period. Year-to-Date the stock performance stands at 30.47%.

Veeva Systems (NYSE:VEEV): The stock opened at $38.70 on Tuesday but the bulls could not build on the opening and the stock topped out at $38.74 for the day. The stock traded down to $37.36 during the day, due to lack of any buying support eventually closed down at $37.64 with a loss of -2.66% for the day. The stock had closed at $38.67 on the previous day. The total traded volume was 3,319,794 shares.

In a related news, The Securities and Exchange Commission has divulged that Ritter Gordon, director of Veeva Systems Inc, had unloaded 19,200 shares at an average price of $38.3 in a transaction dated on August 8, 2016. The total value of the transaction was worth $735,360.

Veeva Systems Inc. (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Companys industry cloud for life sciences consists of the solution sets: Veeva CRM, its core customer relationship management solution and related solutions; Veeva Vault, its regulated content management and collaboration solutions; Veeva Network, its customer master data management solution, and Veeva OpenKey, its data and related services offerings. It provides updates to its software solutions three times per year. Updates are included in its subscription and are not subject to an additional fee. Upgrades are implemented by Veeva in its cloud computing environment such that when a new update is put into production, the prior version is replaced. Veeva OpenKey customer data is available in Australia, China, France, Italy, the United Kingdom and the United States.

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