Westpac Banking Corp Sells 5,372 Shares of Veeva Systems Inc. $VEEV

Westpac Banking Corp lowered its stake in shares of Veeva Systems Inc. (NYSE:VEEV) by 82.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,177 shares of the technology company’s stock after selling 5,372 shares during the quarter. Westpac Banking Corp’s holdings in Veeva Systems were worth $263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new position in shares of Veeva Systems during the 4th quarter valued at about $27,000. Raiffeisen Bank International AG purchased a new stake in Veeva Systems during the 3rd quarter valued at about $28,000. Newbridge Financial Services Group Inc. grew its position in Veeva Systems by 322.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Activest Wealth Management grew its position in Veeva Systems by 3,175.0% during the 4th quarter. Activest Wealth Management now owns 131 shares of the technology company’s stock worth $29,000 after acquiring an additional 127 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. purchased a new position in Veeva Systems in the 4th quarter worth approximately $33,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Veeva Systems

In other Veeva Systems news, Director Priscilla Hung sold 750 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were 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 in the company, valued at approximately $506,296.92. This represents a 18.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on VEEV shares. TD Cowen reiterated a “buy” rating on shares of Veeva Systems in a research report on Thursday. Mizuho decreased their target price on shares of Veeva Systems from $295.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday. Citigroup upped their price target on shares of Veeva Systems from $176.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday. Barclays dropped their price target on shares of Veeva Systems from $250.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their price target on shares of Veeva Systems from $330.00 to $296.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Eighteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Veeva Systems presently has an average rating of “Moderate Buy” and a consensus target price of $250.96.

Veeva Systems Trading Down 0.1%

Shares of NYSE VEEV opened at $178.56 on Friday. The firm has a fifty day simple moving average of $166.27 and a two-hundred day simple moving average of $195.90. Veeva Systems Inc. has a 12 month low of $148.05 and a 12 month high of $310.50. The firm has a market capitalization 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 (NYSE:VEEV) last announced its earnings results on Wednesday, June 3rd. The technology company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.10. Veeva Systems had a net margin of 28.37% and a return on equity of 13.89%. The firm had revenue of $882.95 million for the quarter, compared to analyst estimates of $857.73 million. During the same quarter in the previous year, the firm posted $1.97 EPS. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. 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. On average, sell-side analysts predict that Veeva Systems Inc. will post 6.45 earnings per share for the current year.

Key Headlines Impacting Veeva Systems

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.

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.