Criterion Capital Bullish On Veeva Systems Inc (VEEV), Further Raises Stake To Nearly 20%

Christopher Lord’s Criterion Capital further increased its position in Veeva Systems Inc (NYSE:VEEV). According to an amended filing, Criterion Capital currently owns 5.81 million shares, equivalent to 19.9% of the company’s total Class A common stock outstanding. Previously, the fund reported owning 4.40 million shares of the company, equal to 15.80% of the class.

Veeva Systems Inc (NYSE:VEEV) is a global provider of cloud-based software solutions, and customer relationship & regulated content management products. Founded in 2007, the company has a market cap of $5.3 billion, and has more than 190 customers in more than 75 countries.

At the end of March, Veeva Systems Inc. (NYSE: VEEV) announced that it closed its underwritten public offering of 13.80 million shares of its Class A common stock at a price to the public of $26.35 per share. The offering included 1.80 million shares issued upon the exercise in full of the underwriters’ option to purchase additional shares.

In its latest 13F, Scott Fine and Peter Richards’ Empire Capital Management disclosed ownership of 911,400 shares of Veeva Systems Inc (NYSE:VEEV). Joe Dimenna’s Zweig Dimenna Partners held 319,610 shares of the company. Citadel Investment Group, managed by Ken Griffin, revealed a $7.7 million stake, which contains 239,254 shares.

With the portfolio value of $3.2 billion, Criterion Capital is a long/short investment fund that focuses on technology, media, and telecommunications investments. The fund makes fundamentals-driven investments in quality businesses, utilizing the diversity inherent in the various technology industries to diversify its portfolio, and also takes short positions to help provide absolute returns.

As at the end of 2013, Criterion Capital disclosed holding a $243.1 million stake in Palo Alto Networks Inc (NYSE:PANW), which amounts to 4.23 million shares. In Baidu Inc (ADR) (NASDAQ:BIDU), the fund held 976,699 shares, worth $173.7 million. Another important is Amazon.com, Inc. (NASDAQ:AMZN), in which the fund revealed holding 354,291 shares.

Disclosure: None

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