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Stock impact report

Veeva Systems (VEEV) Stock Trades Up, Here Is Why [Yahoo! Finance]

Veeva Systems Inc. Class A (VEEV) 
Last veeva systems inc. class a earnings: 3/3 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
approved a share repurchase program, authorizing the purchase of up to $2 billion of its stock. The program represented approximately 5.5% of the company's market value at the time. Share buybacks are often viewed by investors as a sign of confidence from a company's leadership, suggesting they believe the stock is a good investment and are optimistic about future growth. Veeva's announcement stated the program reflected confidence in its long-term trajectory. The positive market reaction occurred even as an analyst at Morgan Stanley maintained a Sell rating on the stock, pointing to competitive pressure, customer transition risk, and a high valuation. Is now the time to buy Veeva Systems? Access our full analysis report here Veeva Systems's shares are not very volatile and have only had 5 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change Show less Read more
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