Westpac Banking Corp Lowers Position in Veeva Systems Inc. $VEEV

Westpac Banking Corp lessened its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 82.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,177 shares of the technology company’s stock after selling 5,372 shares during the period. Westpac Banking Corp’s holdings in Veeva Systems were worth $263,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Board of the Pension Protection Fund purchased a new stake in Veeva Systems in the 4th quarter worth approximately $27,000. Raiffeisen Bank International AG purchased a new stake in shares of Veeva Systems in the third quarter worth $28,000. Newbridge Financial Services Group Inc. raised its position in shares of Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Activest Wealth Management lifted its stake in shares of Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock valued at $29,000 after buying an additional 127 shares in the last quarter. Finally, BOK Financial Private Wealth Inc. bought a new position in Veeva Systems in the 4th quarter worth $33,000. Institutional investors own 88.20% of the company’s stock.

Veeva Systems News Summary

Here are the key news stories impacting Veeva Systems this week:

• Positive Sentiment: Veeva beat first-quarter estimates, with EPS of $2.24 and revenue of $882.9 million, while Q2 revenue guidance also came in above expectations, supporting the case for continued growth. Article Title
• Positive Sentiment: Management raised fiscal 2027 outlook and highlighted AI initiatives, including Falcon AI agents and new platform expansion, which could improve investor sentiment around product innovation and future monetization. Article Title
• Positive Sentiment: Several brokers remain constructive, with firms like Oppenheimer, RBC, Needham, BTIG, and Baird reiterating bullish ratings and high price targets, suggesting some analysts see meaningful upside despite the recent pullback.
• Neutral Sentiment: Other analysts turned more cautious, including Goldman Sachs, UBS, BMO, and Citigroup, which lowered price targets, adding to the mixed read-through from the earnings report.
• Negative Sentiment: Some commentary pointed to concerns about the legacy CRM business and customer migration dynamics, which may be tempering enthusiasm around the AI story and weighing on the shares.

Insider Activity

In other news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $155.64, for a total transaction of $116,730.00. Following the transaction, the director owned 3,253 shares of the company’s stock, valued at approximately $506,296.92. This represents a 18.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Veeva Systems Price Performance

Shares of VEEV stock opened at $178.56 on Friday. The company has a market cap of $29.16 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 0.79 and a beta of 0.95. Veeva Systems Inc. has a 1 year low of $148.05 and a 1 year high of $310.50. The stock’s 50 day simple moving average is $166.27 and its two-hundred day simple moving average is $195.90.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.10. The company had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. Veeva Systems had a return on equity of 13.89% and a net margin of 28.37%.Veeva Systems’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.97 EPS. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. Equities research analysts expect that Veeva Systems Inc. will post 6.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen cut Veeva Systems from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. The Goldman Sachs Group decreased their target price on Veeva Systems from $190.00 to $165.00 and set a “sell” rating on the stock in a research note on Thursday. Wells Fargo & Company upped their price target on Veeva Systems from $317.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday. Zacks Research lowered shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, Robert W. Baird lifted their price objective on shares of Veeva Systems from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday. Eighteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.96.

Veeva Systems Profile

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.