Is Veeva Systems (VEEV) a Good Investment Bet?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Focus Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. Global equity markets closed out 2023 with their highest quarterly returns this year, following a period of weakness. In the fourth quarter, the strategy returned 14.87% (gross) and 14.59% (net) compared to 14.55% for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital Management U.S. Focus Growth Strategy featured stocks like Veeva Systems Inc. (NYSE:VEEV) in the Q4 2023 investor letter. Headquartered in Pleasanton, California, Veeva Systems Inc. (NYSE:VEEV) is a cloud-based software provider for the life sciences industry. On April 2, 2024, Veeva Systems Inc. (NYSE:VEEV) stock closed at $216.41 per share. One-month return of Veeva Systems Inc. (NYSE:VEEV) was -3.63%, and its shares gained 20.18% of their value over the last 52 weeks. Veeva Systems Inc. (NYSE:VEEV) has a market capitalization of $34.911 billion.

TimesSquare Capital Management U.S. Focus Growth Strategy stated the following regarding Veeva Systems Inc. (NYSE:VEEV) in its fourth quarter 2023 investor letter:

“New to the portfolio this quarter was Veeva Systems Inc. (NYSE:VEEV), a provider of cloud-based software for the life sciences industry. Its customer relationship management solutions enable pharmaceutical and life sciences companies to increase productivity and compliance of their sales and marketing functions. We used near-term weakness as an entry point.”

A team of IT experts monitoring a network of computers managing the medical content and communications.

Veeva Systems Inc. (NYSE:VEEV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Veeva Systems Inc. (NYSE:VEEV) was held by 48 hedge fund portfolios, compared to 41 in the previous quarter, according to our database.

We discussed Veeva Systems Inc. (NYSE:VEEV) in another article and shared the list of biggest software companies in the US. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.