Veeva Systems Inc (VEEV): Criterion Capital Among Top Winners as Stock Goes Up; Check Out Fund’s Other Top Picks

In ServiceNow Inc (NYSE:NOW), Criterion also initiated a stake during the last quarter of 2013 and within the last year, it surged its position  to 3.05 million shares, held as of the end of the fourth quarter, from 366,400 shares held initially. At the end of 2014, the fund’s stake in the provider of cloud-based solutions was valued at $207.18 million. Criterion is the largest shareholder of ServiceNow Inc (NYSE:NOW) among the funds that we track, followed by Christopher Lyle’s SCGE Management with 720,000 share. The stock, meanwhile, appreciated by 18% in the last 52 weeks, significantly outperforming the IT Services industry growth of 3%. ServiceNow Inc (NYSE:NOW) has been battling Hewlett-Packard Company (NYSE:HPQ) in court after the latter accused it of patent infringement. However, recently, a federal judge in California invalitated four of HP’s patents for being too abstract. The lawsuit will move on, however, as there are still four patents that have been left intact by the judge.

Finally there is Workday Inc (NYSE:WDAY), which represents Criterion’s third largest stake that is valued at $201.49 million. During the fourth quarter, the fund inched up its position by 4% to 2.47 million shares. Unlike the previous companies, Workday Inc (NYSE:WDAY)’s stock lost 17% in the last year, although the whole application software industry did not perform well, gaining only 0.60% during the same period. Workday provides enterprise cloud-based applications for human capital management and finance. On March 16, Brean Capital initiated coverage on Workday Inc (NYSE:WDAY) setting a ‘Hold’ rating with a price target of $86.00. Alan Fournier‘s Pennant Capital Management is also invested in Workday and owns 2.45 million shares as of the end of last year.

Disclosure: none