ClearBridge Investments: “Veeva (VEEV) can Continue to Sustain 20% Top-Line Growth”

ClearBridge Investments, an investment management firm, published its “Mid Cap Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the ClearBridge Mid Cap Growth Strategy outperformed its Russell Midcap Growth benchmark. On an absolute basis, the Strategy had gains across eight of the 10 sectors in which it was invested during the quarter (out of 11 sectors total), with the IT sector the leading contributor, while the consumer discretionary sector was the primary detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Mid Cap Growth Strategy, in its Q4 2021 investor letter, mentioned  Veeva Systems Inc. (NYSE:VEEV) and discussed its stance on the firm. Founded in 2007, Veeva Systems Inc. (NYSE:VEEV) is a Pleasanton, California-based computer software company with a $32.7 billion market capitalization, and is currently spearheaded by its CEO, Peter Gassner. Veeva Systems Inc. (NYSE:VEEV) delivered a -16.87% return since the beginning of the year, while its 12-month returns are down  by -18.43%. The stock closed at $212.39 per share on April 05, 2022.

Here is what ClearBridge Investments Mid Cap Growth Strategy has to say about Veeva Systems Inc. (NYSE:VEEV) in its Q4 2021 investor letter:

“Veeva Systems is a software provider to the life sciences industry focused on commercial tools as well as software to automate clinical trials, manufacturing quality control, and drug safety events. We believe that with an innovative track record of organic product development and exceptional vertical software profitability, Veeva can continue to sustain 20% top-line growth, while maintaining high profitability, as the life science industry belatedly digitizes its R&D and sales and marketing.”

Our calculations show that Veeva Systems Inc. (NYSE:VEEV) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Veeva Systems Inc. (NYSE:VEEV) was in 45 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 44 funds in the previous quarter. Veeva Systems Inc. (NYSE:VEEV) delivered a -12.08% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on Veeva Systems Inc. (NYSE:VEEV) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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