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IPO Report: Veeva Systems (VEEV)

By  +Follow October 14, 2013 6:37PM
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Veeva Systems (VEEV)is a leading global provider of industry-specific, cloud-based software solutions for the life sciences industry.

Five IPOs are scheduled for this week. The full IPO calendar can be found at IPOpremium.

VEEV is based in Pleasanton, CA,  and scheduled a $223 million IPO with a market capitalization of $2 billion at a price range mid-point of $17, for Wednesday, October 16, 2013.

The S-1 was filed October 11, 2013.  Manager, Joint Managers:  Morgan Stanley; Deutsche Bank Securities.  Co-Managers:  Pacific Crest Securities; Stifel; BMO Capital; Canaccord Genuity

Summary

Veeva is a leading global provider of industry-specific, cloud-based software solutions for the life sciences industry.

VEEV is a profitable cloud company with 67% of revenue from subscriptions,  with a 70% increase in top line revenue increase for the six months ended July 31, ’13 vs July 31, ’12, to $92 million from $54 million.

Valuation

October 11, 2013 VEEV raised the price range mid-point to $17 from $13.

Valuation Ratios

IPO Mrkt

Price /

Price /

Price /

Price /

% offered

annualizing July 6 mos

Cap (mm)

Sls

Erngs

BkVlue

TanBV

in IPO

Veeva Systems (VEEV) @ $17

$2,079

11.3

94.5

10.5

11.2

11%

 

 

 

 

 

 

 

Veeva Systems (VEEV) @ $13

$1,590

8.6

72.3

9.8

10.7

11%

Glossary

Conclusion

Buy VEEV on the IPO based on subscription-based profitability in the cloud sector and top line revenue growth of 70% for the six months ended July 30 ’13 vs July 30 ’12.

Business

Veeva is a leading global provider of industry-specific, cloud-based software solutions for the life sciences industry.

VEEV’s solutions enable pharmaceutical and other life sciences companies to realize the benefits of modern cloud-based architectures and mobile applications for their most critical business functions, without compromising industry-specific functionality or regulatory compliance.

VEEV’s customer relationship management solutions enable customers to increase the productivity and compliance of their sales and marketing functions.

Products

VEEV’s regulated content management and collaboration solutions enable customers to more efficiently manage a range of highly regulated, content-centric processes across the enterprise.

The customer master solution, including VEEV’s proprietary database of healthcare provider and healthcare organization data, enables customers to more effectively create and maintain accurate customer data.

Competition

VEEV competes offerings from large global enterprise software vendors, such as Oracle Corporation, and also compete with life sciences-specific customer relationship management providers, such as Cegedim SA.  A number of vendors of cloud-based and on-premise customer relationship management applications that address only a portion of VEEV’s customer relationship management solutions.

 VEEV’s regulated content management and collaboration solutions compete with offerings from large global content management platform vendors such as EMC Corporation, Microsoft Corporation and OpenText Corporation.

VEEV alsos competes with professional services companies that provide solutions on these platforms, such as Computer Sciences Corporation, and with other life sciences specific providers.

In the future, providers of horizontal cloud-based storage products may seek to compete with VEEV’s  regulated content management and collaboration solutions.

VEEV also expects continued consolidation among cloud-based technology companies that could lead to significantly increased competition.

5% stockholders pre-IPO

Emergence Capital Partners II, L.P., 31%
Craig Ramsey, 5.8%
Maja Ramsey, 5.8%

Use of proceeds

VEEV expects to net $151 million from its IPO from selling 9.7 million shares.  Shareholders intend to sell 3.3 million shares.

Proceeds are allocated for working capital and general corporate purposes.

 

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for veev
The Legacy News
18 Dec 14 04:44:59
Insider Selling: Young A. Sohn Sells 25,000 Shares of Veeva Systems Stock $VEEV http://t.co/fon2SYOjrP
Sleek Money
18 Dec 14 04:40:28
Insider Selling: Veeva Systems major shareholder Unloads 55,000 Shares of Stock $VEEV http://t.co/A1QsWQENPh
Michael Seneadza
18 Dec 14 04:15:24
"Scans picked up tons of Stochastic Buy Signals today $GE $AAPL $GG $TSLA $GOOGL $CYBR $TIF $VEEV $AKAM $BITA $AN http://t.co/Z5df0NNjEw"
Dakota Financial
17 Dec 14 19:43:31
Insider Selling: Veeva Systems major shareholder Sells 55,000 Shares of Stock $VEEV http://t.co/uynUicomeK
ProVesting
17 Dec 14 19:38:15
$VEEV: Veeva Systems major shareholder Sells $679250 in Stock (VEEV) http://t.co/8h0VqECwOX http://t.co/Eldcut8ElI
US Banking News
17 Dec 14 19:29:16
Insider Selling: Young A. Sohn Unloads 25,000 Shares of Veeva Systems Stock $VEEV http://t.co/Rm0kreOpWr
ProTradersNews
17 Dec 14 19:28:06
$VEEV: Insider Selling: Young A. Sohn Unloads 25000 Shares of Veeva ... http://t.co/LBb9Y9pTjP http://t.co/K2nBf0Unwc
StockNewsWires
17 Dec 14 18:25:03
$VEEV: Veeva Systems major shareholder Young A. Sohn Sells 55000 ... http://t.co/Hg8R8yDPW5 http://t.co/3xbhqRtiqN
US Banking News
17 Dec 14 17:50:55
Insider Selling: Veeva Systems major shareholder Sells 55,000 Shares of Stock $VEEV http://t.co/rj97oP5HZ2
StockNewsWires
17 Dec 14 17:42:03
$VEEV: Insider Selling: Veeva Systems major shareholder Sells 55000 ... http://t.co/rrouRqwGtg http://t.co/E9lDiTUUet
4th Quarter Capital
17 Dec 14 17:02:31
Bought $VEEV $SGEN $RALY
SwingTradeBot
17 Dec 14 16:56:12
Scans picked up tons of Stochastic Buy Signals today $GE $AAPL $GG $TSLA $GOOGL $CYBR $TIF $VEEV $AKAM $BITA $AN http://t.co/0ekm1lr2pG
NASDAQ
17 Dec 14 15:16:21
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/QBEanUh0JN
john smith
17 Dec 14 15:16:08
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/JMQeCWwEY8
InsiderTradingWire
17 Dec 14 15:15:34
Young Sohn A, of Veeva Systems Inc Sells $1,478,557 Worth of $VEEV - #Form4 #InsiderTrading - http://t.co/Ttq2bUm96c
Insider Filings
17 Dec 14 15:15:07
$VEEV: Sohn Young A sold a net $1,478,557 in VEEVA SYSTEMS INC. http://t.co/mggJpQVlK9
InsiderTradingWire
17 Dec 14 09:30:55
$VEEV | Veeva Systems Inc is down 17% since we reported $2,102,520 of insider selling on 09/12/2014. Did you ... - http://t.co/nxABg309dG
The Motley Fool
17 Dec 14 07:55:38
@steveshields31 Ask the Fools at @TMFRuleBreakers, who've been keeping a close eye on $VEEV.
Scott Smith
17 Dec 14 07:23:44
Beware of weak stocks $SCTY $RWLK $JASO $CSIQ $VEEV when action on so many other stocks is strong. Setups I DO like http://t.co/YlonVw73Ny
Top Gun Financial
16 Dec 14 19:38:13
Doing some work on $VEEV. Could be a good one.
Sleek Money
16 Dec 14 10:22:58
Insider Selling: Timothy S. Cabral Sells 36,000 Shares of Veeva Systems Stock $VEEV http://t.co/rZCqIlsFKO
VanTrader
16 Dec 14 08:36:21
$VEEV 26.60 SWING
VanTrader
16 Dec 14 08:16:21
$VEEV bidding for some. Almost always use limit order on low vol stocks. Play it mm style
Ken Perrone
16 Dec 14 07:57:24
Covered 1/2 $VEEV short position. 20.5% gain from $33.5/sh basis. Will consider re-entering above $30/sh.
Irma Doucet
16 Dec 14 05:01:26
$VEEV Commit To Purchase Veeva Systems At $23, Earn 7.2% Using Options http://t.co/0lycZZkJOy
John Ablemann
16 Dec 14 05:01:24
$VEEV Will Veeva Systems Inc. Pop Or Drop in 2014? http://t.co/rTLBZFLq0S
ProTradersNews
15 Dec 14 22:28:02
$VEEV: Veeva Systems Trading Down 7% Following Insider Selling (VEEV) http://t.co/Awq4jIgZ19 http://t.co/d7QFAMY8YT
TradeTexasBig
15 Dec 14 20:11:40
$data looks good . $splk lost its mojo . $veev too ..
SwingTradeBot
15 Dec 14 15:01:35
Scan results - Fell Below 50 DMA today: $ICON $PNM $SIR $VEEV $LXP $SCS $IRE $PL $CSLT $BPFH ... http://t.co/mF3fj5tZIa
eldad nahmany
15 Dec 14 14:07:43
Short list for tmw: $adbe<72.8$, $aes<12.85$, $acad<30.25$, $veev<26.4$, 2nd: $aapl<106.35$, $eca<11.5$, $gild<102.4$, $twtr<26.7$, $apa<55$
James P Worthy
15 Dec 14 13:02:21
$VEEV Will Veeva Systems Inc. Pop Or Drop in 2014? http://t.co/cvxo2RUmLZ
Jeffrey Blake
15 Dec 14 12:33:17
$VEEV Veeva Systems Trading Down 7% on Insider Selling (VEEV) http://t.co/fF0hqIZvki
Harry Walkman
15 Dec 14 12:33:15
$VEEV Will Veeva Systems Inc. Pop Or Drop in 2014? http://t.co/cgZzMs3IqI
WKRB News
15 Dec 14 11:22:16
Veeva Systems Trading Down 7% on Insider Selling $VEEV http://t.co/KsT9BmXlHK
US Banking News
15 Dec 14 11:13:10
Veeva Systems Trading Down 7% on Insider Selling $VEEV http://t.co/m1swlFypo3
Ug Nd
15 Dec 14 05:41:47
I OWN $CRM, $LNKD $FB $AER $C AND I AM SHORT $WDAY (CLOSING THAT TODAY) AND $VEEV. STRICTLY OPTION STRATEGIES.
Instrumental Data
15 Dec 14 02:06:18
VEEVA SYSTEMS INC $VEEV 10-Q now available
Cameron
14 Dec 14 11:12:59
RT @PaulJSingh: Let's review my current positions are $Z, $VEEV and $CYBR http://t.co/3UGWVig2cn
Kunal Desai
14 Dec 14 11:01:59
RT @PaulJSingh: Let's review my current positions are $Z, $VEEV and $CYBR http://t.co/3UGWVig2cn
Jeremy Hahn
14 Dec 14 10:59:32
@PaulJSingh If you weren't already in, would $VEEV seem like a decent entry here (depending on how it opens mon) with a stop around $27.20?
the fernando
14 Dec 14 08:44:56
RT @PaulJSingh: Let's review my current positions are $Z, $VEEV and $CYBR http://t.co/3UGWVig2cn
Paul J. Singh
14 Dec 14 08:04:33
Let's review my current positions are $Z, $VEEV and $CYBR http://t.co/3UGWVig2cn
News Box
12 Dec 14 19:07:07
$VEEV: Veeva Systems CFO Timothy S. Cabral Sells 36000 Shares (VEEV) http://t.co/ZFokOIFCh4 http://t.co/5UM0VEeNmD
US Banking News
12 Dec 14 18:24:27
Veeva Systems CFO Sells $1,081,080 in Stock $VEEV http://t.co/vCB5dwxx0h
Ticker Report
12 Dec 14 18:20:34
Veeva Systems CFO Sells $1,081,080 in Stock $VEEV http://t.co/CDNjwPlZgC
StockNewsWires
12 Dec 14 18:18:03
$VEEV: Veeva Systems CFO Sells $1081080 in Stock (VEEV) http://t.co/BPOYezK5I4 http://t.co/hu7mQDGNsT
Kirk Kornegay
12 Dec 14 17:16:49
Anyone have thoughts on $VEEV - just don't get why no sponsorship - 2 great quarters, solid positive earnings growth and ideal industry...
john smith
12 Dec 14 14:50:33
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/13M9OKOZOp
Insider Filings
12 Dec 14 14:41:07
$VEEV: Cabral Timothy S sold a net $1,080,908 in VEEVA SYSTEMS INC. http://t.co/mggJpQVlK9
InsiderTradingWire
12 Dec 14 14:40:10
Timothy Cabral S, Chief Financial Officer of Veeva Systems Inc Sells $1,080,908 Worth of $VEEV - #Form4 ... - http://t.co/dbpJUVSFq9
				
				
By  +Follow October 14, 2013 6:37PM
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