Westpac Banking Corp Grows Stock Holdings in Veeva Systems Inc. $VEEV

Westpac Banking Corp boosted its position in Veeva Systems Inc. (NYSE:VEEV) by 643.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,770 shares of the technology company’s stock after purchasing an additional 6,725 shares during the period. Westpac Banking Corp’s holdings in Veeva Systems were worth $2,238,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Trust Co. of Toledo NA OH acquired a new position in Veeva Systems during the second quarter valued at approximately $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Veeva Systems in the 2nd quarter valued at approximately $32,000. Maseco LLP purchased a new position in shares of Veeva Systems during the 2nd quarter valued at $35,000. Ameritas Advisory Services LLC bought a new position in Veeva Systems during the second quarter valued at about $68,000. Finally, ORG Partners LLC lifted its position in Veeva Systems by 176.3% during the 2nd quarter. ORG Partners LLC now owns 315 shares of the technology company’s stock worth $89,000 after acquiring an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

Veeva Systems Price Performance

NYSE VEEV traded down $1.79 during mid-day trading on Monday, reaching $291.57. The stock had a trading volume of 23,347 shares, compared to its average volume of 1,273,182. The company has a fifty day moving average price of $288.89 and a 200 day moving average price of $277.98. The stock has a market cap of $47.79 billion, a PE ratio of 59.81, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98. Veeva Systems Inc. has a 1 year low of $201.54 and a 1 year high of $310.50.

Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Wednesday, August 27th. The technology company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.64). Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The company had revenue of $789.08 million for the quarter, compared to the consensus estimate of $768.49 million. During the same quarter last year, the firm posted $1.62 earnings per share. The company’s revenue was up 16.7% compared to the same quarter last year. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. As a group, equities research analysts expect that Veeva Systems Inc. will post 4.35 earnings per share for the current year.

Insider Buying and Selling at Veeva Systems

In other news, insider Eleni Nitsa Zuppas sold 6,000 shares of the business’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the transaction, the insider owned 25,325 shares of the company’s stock, valued at approximately $7,765,151.50. The trade was a 19.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jonathan Faddis sold 14,595 shares of Veeva Systems stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $300.00, for a total value of $4,378,500.00. Following the completion of the transaction, the senior vice president directly owned 8,588 shares of the company’s stock, valued at approximately $2,576,400. This represents a 62.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 24,665 shares of company stock valued at $7,438,000. Corporate insiders own 10.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wall Street Zen cut shares of Veeva Systems from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Stifel Nicolaus boosted their price target on Veeva Systems from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Truist Financial lifted their price target on Veeva Systems from $268.00 to $275.00 and gave the stock a “hold” rating in a report on Thursday, August 28th. TD Cowen upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $297.00 to $380.00 in a research report on Tuesday, October 7th. Finally, Raymond James Financial restated an “outperform” rating and issued a $340.00 price target (up previously from $310.00) on shares of Veeva Systems in a research report on Thursday, August 28th. Seventeen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems has an average rating of “Moderate Buy” and a consensus target price of $307.28.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.