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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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for veev
Breaking News
28 Mar 15 10:00:03
$VEEV: Veeva Systems major shareholder Sells $1459700.00 in Stock (VEEV): http://t.co/fgjSknblVa
Capital Market Labs
28 Mar 15 01:32:14
$VEEV Assets are Growing. Chart: http://t.co/NdJdlAders https://t.co/jrG5B7BoI6
Capital Market Labs
27 Mar 15 18:50:47
$VEEV Research and Development is Rising. Chart: http://t.co/C3s2uOxKmO https://t.co/WBVhi8WI8o
john smith
27 Mar 15 13:22:07
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/oyWrECBp0G
NASDAQ
27 Mar 15 13:22:04
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/MdOGwtEOmv
NASDAQ
27 Mar 15 13:20:28
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/3d1Pi6PQys
john smith
27 Mar 15 13:20:27
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/do66kBFN2S
NASDAQ
27 Mar 15 13:20:05
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/3d1Pi6PQys
Sleek Money
27 Mar 15 05:20:24
Insider Selling: Young A. Sohn Sells 55,000 Shares of Veeva Systems Stock $VEEV http://t.co/ztBanGI4Tw
US Consumer News
27 Mar 15 05:04:42
Veeva Systems Major Shareholder Young Sohn Sells $1,459,700 in $VEEV http://t.co/9hCZGRnIZy
US Banking News
27 Mar 15 05:04:40
Veeva Systems Major Shareholder Young Sohn Sells $1,459,700 in $VEEV http://t.co/QyWfs1axfP
Breaking News
26 Mar 15 20:50:01
$VEEV: Insider Selling: Veeva Systems major shareholder Young A. Sohn ...: http://t.co/1nz9yp0eDh
WKRB News
26 Mar 15 20:44:30
Insider Selling: Veeva Systems major shareholder Young A. Sohn Sells 55,000 Shares of Stock $VEEV http://t.co/UgPR8iO316
US Banking News
26 Mar 15 19:36:27
Veeva Systems major shareholder Young A. Sohn Sells 55,000 Shares $VEEV http://t.co/SyBrjFDGN6
Dakota Financial
26 Mar 15 19:27:10
Veeva Systems major shareholder Young A. Sohn Sells 55,000 Shares $VEEV http://t.co/su9sF4bS7t
Ticker Report
26 Mar 15 19:26:38
Veeva Systems major shareholder Young A. Sohn Sells 55,000 Shares $VEEV http://t.co/ZgcW0cdF8s
Breaking News
26 Mar 15 19:25:02
$VEEV: Veeva Systems major shareholder Young A. Sohn Sells 55000 ...: http://t.co/ZgOPzXgoxr
BreakingStocksNews
26 Mar 15 14:55:02
$VEEV: Young Sohn just Unloaded 55000 shares of Veeva Systems Inc ...: http://t.co/1xVtzE2gV8
Breaking News
26 Mar 15 14:45:04
$VEEV: Veeva Systems Inc (NYSE:VEEV)'s Insider Young Sohn Sold 55000 ...: http://t.co/JqJYJBvtgv
Capital Market Labs
26 Mar 15 13:35:13
$VEEV Assets are Growing. Chart: http://t.co/NdJdlAders
InsiderTradingWire
26 Mar 15 13:20:47
Young Sohn A Sells $1,459,497 Worth of $VEEV Veeva Systems Inc. Class A Comm - #Form4 #InsiderTrading - http://t.co/2TEEHfIxVh
NASDAQ
26 Mar 15 13:19:21
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/HgNhc35jgU
john smith
26 Mar 15 13:19:16
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/TFB4oGyraG
Breaking News
26 Mar 15 13:19:02
$VEEV: New Insider Transaction on VEEV by 10%+ Owner: http://t.co/l2PUk8EOTR
Insider Alerts
26 Mar 15 13:18:16
NEW insider transaction on $VEEV reported a moment ago: http://t.co/qEVRi4m6Gm
Insider Filings
26 Mar 15 13:16:12
$VEEV: Sohn Young A sold a net $1,459,497 in VEEVA SYSTEMS INC. http://t.co/mggJpQDKC5
Capital Market Labs
26 Mar 15 12:31:06
$VEEV Earnings are Growing. Chart: http://t.co/KkB0rcinlG
InsiderTradingWire
26 Mar 15 11:00:18
$VEEV | Veeva Systems Inc is down 18% since we reported $1,657,401 of insider selling on 02/26/2015. Did you ... - http://t.co/H3o9nSrTry
US_proptrader
26 Mar 15 09:03:35
$ACAD $AKRX $ALNY $AMAG $AMBA $ARRY $GERN $VEEV $XON autocharts @ http://t.co/cLiki3R0GR
Seeking Alpha Alerts
26 Mar 15 01:37:12
@pentradnews Unsubscribed from $VEEV To subscribe, tweet: $SYMBOL @sa_alerts
pentradnewsletters
26 Mar 15 01:36:34
@sa_alerts unsubscribe: $VEEV $ZIOP $BMY $RDN $MRVL $CTAS $HZNP $HABT $STLD $BRKR $BRCD
Michael Sanzo
25 Mar 15 20:06:21
@TradeTexasBig $VEEV chart H&S pattern?
Michael Sanzo
25 Mar 15 17:52:24
Does anyone see the H&S pattern on the chart of $VEEV, with a neckline break of around $25- measure move down to $17 #BEARISH
ProVesting
25 Mar 15 16:30:02
$VEEV: Insider Selling: Mark Armenante Sells 60000 Shares of Veeva ...: http://t.co/IMIy8PaRut
The Legacy News
25 Mar 15 15:59:24
Insider Selling: Mark Armenante Sells 60,000 Shares of Veeva Systems Stock $VEEV http://t.co/CBsbuEvopH
Clark Joseph Kent
25 Mar 15 13:59:10
Major tech decliners $BRCM $PMCS $AMAT $FNSR $SSNI $CMCM $ARRS $SMCI $FNJN $VEEV http://t.co/dp1nXxX2Cn
US Banking News
25 Mar 15 07:55:23
Veeva Systems Receives Average Recommendation of “Buy” from Analysts $VEEV http://t.co/mMxUV97IZu
Stockguy22
25 Mar 15 05:57:02
A few other movers in #premarket Up $LQ $FXCM Down $BIDU $NSM $VEEV $ENLK $TSLA
john smith
24 Mar 15 12:57:01
$VEEV - ビーバ・システムズがVeeva OpenKeyを発表 http://t.co/uckxAFeyAF
NASDAQ
24 Mar 15 12:57:01
$VEEV - ビーバ・システムズがVeeva OpenKeyを発表 http://t.co/Zseqkw7w6d
Lee Renrut
24 Mar 15 11:08:22
$VEEV pushing
WKRB News
24 Mar 15 11:01:15
Recent Investment Analysts’ Ratings Changes for Veeva Systems $VEEV http://t.co/UIREzloRqI
Breaking News Now
24 Mar 15 10:55:02
$VEEV: Recent Investment Analysts' Ratings Changes for Veeva Systems ...: http://t.co/8ULgJp6qxG
US Banking News
24 Mar 15 10:52:14
Recent Investment Analysts’ Ratings Changes for Veeva Systems $VEEV http://t.co/ecXzGjub4a
4-traders.com
24 Mar 15 10:24:09
#Veeva Systems : PharmiWeb Solutions: Veeva Web Approved Partner; Leading inde... http://t.co/WQzWEtWiBE $VEEV
Peter Bardens
24 Mar 15 07:01:41
$VEEV Why Veeva Systems Inc. Shares Are Soaring http://t.co/7nKTqpMnka
Capital Market Labs
24 Mar 15 05:24:00
$VEEV, $MDSO, $INOV, $MDRX, $ATHN Revenue Trend Comparison http://t.co/jzLjtPOEnO https://t.co/O7J0gCDLXd
Breaking News Now
24 Mar 15 05:00:03
$VEEV: Mark Armenante Sells 60000 Shares of Veeva Systems Stock (VEEV): http://t.co/WrfmV5x17L
ProVesting
24 Mar 15 03:40:02
$VEEV: Veeva Systems (VEEV) Debuts Healthcare-Focused Platform ...: http://t.co/kxLtW88e0T
Sleek Money
24 Mar 15 01:35:09
Veeva Systems Shares Down 3.3% on Insider Selling $VEEV http://t.co/y6KZXKu8hX
				
				
By  +Follow October 14, 2013 6:37PM
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