5 Industrial Stocks To Buy According To Billionaire Ray Dalio

2. Veeva Systems Inc. (NYSE:VEEV)

Bridgewater Associates’ Stake Value: $85.4 million

Percentage of Bridgewater Associates’ 13F Portfolio: 0.46%

Number of Hedge Fund Holders: 44

Veeva Systems Inc. (NYSE:VEEV) is a software provider for the life sciences industry in the United States. It provides products that allow its customers to manage their commercial functions, research and development, and communication.

In its third fiscal quarter, Veeva Systems Inc. (NYSE:VEEV) brought in $476 million in revenue and $0.97 in non-GAAP EPS, topping analyst estimates on both counts. In December 2021, Baird reduced the company’s price target to $310 from $349. It based the decision on worrying margins that might hamper growth.

As the third quarter of this year came to an end, Mr. Dalio’s Bridgewater Associates held 296,451 Veeva Systems Inc. (NYSE:VEEV) shares. These were worth $85 million and represented 0.46% of its multi-billion dollar portfolio. 44 of the 867 hedge funds held the company’s shares in Q3 2021 according to Insider Monkey’s research.

Veeva Systems Inc. (NYSE:VEEV)’s largest shareholders is Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital who owns 981,523 shares worth $282 million.