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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
Lior Ronen
19 Oct 14 07:33:48
Introducing Finro Q314 Big Data Market Earnings Calendar http://t.co/XPy2rrOEsq $QLIK $INFA $MSTR $DATA $TDC $VRNS $CRM $SPLK $VEEV #bigdata
FonsieTrader
18 Oct 14 06:07:25
Bullish MACD Crossovers 4/4 $OCN $OI $OMC $PACD $PBI $PHM $PKD $POL $RGC $RTK $SPF $TDC $TEN $TOL $TXT $UNH $VEEV http://t.co/z4BGKpwK2D
12Stocks.com
18 Oct 14 03:16:31
Weekly MidCap #Stocks Performance $CLF $NMBL $SHLD $I $SD $NSM $FEYE $SSYS $XLNX $DPZ $VEEV $TXT $OCN more@ http://t.co/tf79gD96D3
Stewart McGehee
17 Oct 14 15:15:03
@McGeheeCapital and $VEEV
john smith
17 Oct 14 13:37:34
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/ofn1tXN5wd
NASDAQ
17 Oct 14 13:37:29
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/DupOIeoCVl
NASDAQ
17 Oct 14 13:37:08
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/dPLmIshUX9
Alexander Morris
17 Oct 14 11:46:22
$VEEV: At 1WkHIGH=28.00, hits:9, Rng:13%, ch:+0.6%, PrvCHi+, tf:0111101, MedFlt[30.3M], HiPctSht[36%:10d], DyVol:1.26M:1.3x:1.1x
Alexander Morris
17 Oct 14 09:52:41
$VEEV: Exc 1WkHIGH=28.00, hits:5, Rng:13%, ch:+1.4%, 0oNewHi:BrkPLo+PHi[+201.5%], PrvCHi+, tf:0110001, MedFlt[30.3M], HiPctSht[36%:10d]
Alexander Morris
17 Oct 14 08:25:26
$VEEV: Exc 1WkHIGH=28.00, hits:4, Rng:13%, ch:+0.7%, PrvCHi+, 11:1Accel+, tf:0111011, MedFlt[30.3M], HiPctSht[36%:10d], DyVol:386T:0.4x:0.3x
Alexander Morris
17 Oct 14 07:01:10
$VEEV: Exc 1WkHIGH=28.00, hits:2, Rng:13%, ch:+0.7%, PrvCHi+, tf:0111001, MedFlt[30.3M], HiPctSht[36%:10d], DyVol:92T:0.1x:0.1x
Peter Bardens
17 Oct 14 06:02:00
$VEEV Strange Call Buys in Veeva Systems (VEEV), Amkor Technologies (AMKR ... http://t.co/Ucheq5Dilq
12Stocks.com
17 Oct 14 03:03:07
Weekly MidCap #Stocks Performance $CLF $SD $UPL $SHLD $THRX $BTU $AR $DPZ $DO $VEEV $NMBL $RRC $CHK $INCY more@ http://t.co/tf79gD96D3
Al Finlaw
16 Oct 14 21:14:16
RT @CashRocket: $VEEV back above all MA's and #VSBD1 http://t.co/dVIpBusH43
Sean McLaughlin
16 Oct 14 21:06:24
Made a defensive adjustment to my $VEEV position today as it moves higher. http://t.co/c0akmqvx9V #Journal
CashRocket
16 Oct 14 17:51:17
$VEEV back above all MA's and #VSBD1 http://t.co/dVIpBusH43
john smith
16 Oct 14 16:46:12
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/AEZ5FkagGX
john smith
16 Oct 14 16:46:10
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/6NnN9M4jur
NASDAQ
16 Oct 14 16:46:09
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/S6ZAjPwBCU
NASDAQ
16 Oct 14 16:46:07
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/dgxX51CEdB
InsiderTradingWire
16 Oct 14 16:45:18
Mark Armenante, of Veeva Systems Inc Sells $1,535,598 Worth of $VEEV - #Form4 #InsiderTrading - http://t.co/K5be0P89Bo
InsiderTradingWire
16 Oct 14 16:45:11
Young Sohn A, of Veeva Systems Inc Sells $1,411,384 Worth of $VEEV - #Form4 #InsiderTrading - http://t.co/vB7ouVNdVM
John Turner
16 Oct 14 14:02:43
$VEEV Christopher Lord's Criterion Capital Raises Exposure To Veeva Systems Inc ... http://t.co/zqVxTBhQOW
Scott Smith
16 Oct 14 13:52:53
Setups I liked today that we'll be watching tomorrow $XONE $ACHN $AMBA $DANG $HIMX $WEAT $VEEV More setups I like. http://t.co/vWRwVP0NOX
Ariel Silahian
16 Oct 14 12:53:28
Algorithmic trading CLOSING Oct/16 $LAMR(-7.0 %) $PRTA(-14.8 %) $ACHN(-10.5 %) $ACHN(-13.8 %) $DRH(-1.9 %) $LRCX(-8.9 %) $VEEV(-4.0 %)
11 Charts Report
16 Oct 14 12:26:55
$VEEV interestin here. http://t.co/IkQjZ8GqNd
Stock007
16 Oct 14 07:52:25
RT @TechStockRadar: Given Salesforce's plan to expand vertical focus, easy way into life sciences would be to buy Veeva $CRM $VEEV
Rob
16 Oct 14 07:51:16
Given Salesforce's plan to expand vertical focus, easy way into life sciences would be to buy Veeva $CRM $VEEV
Michael Davey
16 Oct 14 06:47:25
Out the tiny $VEEV position as well
Ariel Silahian
15 Oct 14 13:13:42
Algorithmic trading CLOSING Oct/15 $VEEV(-12.0 %) $ESRX(2.1 %) $CIM(1.1 %) $ENT(-17.4 %) $FNFG(1.8 %) $AMX(2.1 %) $PETM(0.9 %) $ADP(1.4 %)
FonsieTrader
15 Oct 14 03:44:03
Parabolic Sar Buy Signals $SCOR $STL $STR $VEEV $VJET $VRTU $WAIR $WHR $WY $XCO $ZQK http://t.co/WFBvH2imPe
Colin Macleod
14 Oct 14 17:15:10
That Golden Cross Pattern on the chart of $VEEV just might be what it need to breakout this week http://t.co/mu8hcf6cmt
Sean McLaughlin
13 Oct 14 16:02:46
Made a further defensive adjustment to my long $VEEV position today: http://t.co/4GQpYVBwSJ #Journal
InsiderTradingWire
13 Oct 14 11:00:08
$VEEV | Veeva Systems Inc is down 18% since we reported $2,102,520 of insider selling on 09/12/2014. Did you ... - http://t.co/OJ6UTn5Wdx
Large Void Bot
13 Oct 14 09:36:11
Daily Reversal (12:36): $VEEV Last: 25.97; pHigh: 25.97; rVol: 0.705; pClose: 25.35; LOD: 24.9200; Perf: 2.4%
dominic
13 Oct 14 07:51:09
$DAL, CVX $YELP $VEEV all bo8ught
Sandman
13 Oct 14 04:42:38
RT @chartsmarter: FULL Monday Game Plan up: http://t.co/p2qkolVKaR $DFRG $AGCO $VEEV $CF $ACT $AGIO $NSC $BAH $DPS http://t.co/IgjHeB1nqs
Don Fishback
13 Oct 14 04:36:10
1 Day Decrease in ATM IV (Point change) $MMYT, $FAST, $CPHD, $VEEV, $SAM http://t.co/sck5odP5Ca
OptionApps
13 Oct 14 04:36:09
1 Day Decrease in ATM IV (Point change) $MMYT, $FAST, $CPHD, $VEEV, $SAM http://t.co/TN3DJpQ6ir
IndieGameGuys
13 Oct 14 03:50:57
RT chartsmarter: FULL Monday Game Plan up: http://t.co/vOhhXpMIfE; $DFRG $AGCO $VEEV $CF $ACT $AGIO $NSC $BAH $DPS http://t.co/8Nx3BjPU8L;
Douglas Busch
13 Oct 14 03:50:32
FULL Monday Game Plan up: http://t.co/p2qkolVKaR $DFRG $AGCO $VEEV $CF $ACT $AGIO $NSC $BAH $DPS http://t.co/IgjHeB1nqs
Edward Gofsky
12 Oct 14 16:29:31
"@chartsmarter: FULL Monday Game Plan up: http://t.co/NRkMn0JpBG $DFRG $AGCO $VEEV $CF $ACT $AGIO $NSC $BAH $DPS http://t.co/yIQIeqXAzY"
Douglas Busch
12 Oct 14 16:25:15
FULL Monday Game Plan up: http://t.co/kk6HRBVZR3 $DFRG $AGCO $VEEV $CF $ACT $AGIO $NSC $BAH $DPS http://t.co/qIBeUYRPQE
Sean McLaughlin
12 Oct 14 15:05:30
$VEEV getting caught in the market downdraft, filled its breakout gap. Had to make some adjustments to my position: http://t.co/H7WLkKjOSL
Jorch
12 Oct 14 07:18:38
RT @chartsmarter: FULL Monday Game Plan up: http://t.co/rFaA06E8rD $DFRG $AGCO $VEEV $CF $ACT $AGIO $NSC $BAH $DPS http://t.co/3gUU4cj4SK
Douglas Busch
12 Oct 14 05:21:49
FULL Monday Game Plan up: http://t.co/rFaA06E8rD $DFRG $AGCO $VEEV $CF $ACT $AGIO $NSC $BAH $DPS http://t.co/3gUU4cj4SK
				
				
By  +Follow October 14, 2013 6:37PM
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