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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
TalkMarkets
19 Sep 14 00:29:41
Forget Alibaba. Buy These 3 IPOs Instead $HLT $SFM $VEEV http://t.co/BUHvhVfStu
InterCooler
18 Sep 14 19:48:09
Veeva Systems CFO Timothy S. Cabral Unloads 30,000 Shares $VEEV http://t.co/4yElrcOHkN
US Banking News
18 Sep 14 19:42:10
Insider Selling: Timothy S. Cabral Sells 30,000 Shares of Veeva Systems Stock $VEEV http://t.co/eyo2s5zHr6
WKRB News
18 Sep 14 19:32:46
Insider Selling: Timothy S. Cabral Sells 30,000 Shares of Veeva Systems Stock $VEEV http://t.co/LIAHnVc2nx
Eric Weidner
18 Sep 14 17:05:16
Eric - Owner #webdesign & #online marketing; clients include $SNDK $TLOG $ADMS $VEEV $VVUS #b2bchat
john smith
18 Sep 14 15:53:53
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/EbVIwsc4fc
john smith
18 Sep 14 15:53:51
$VEEV - Amended Statement of Changes in Beneficial Ownership (4/a) http://t.co/IDv3MhvTDF
NASDAQ
18 Sep 14 15:53:48
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/W08mnLSmXu
NASDAQ
18 Sep 14 15:53:46
$VEEV - Amended Statement of Changes in Beneficial Ownership (4/a) http://t.co/d0wUpixgfd
InsiderTradingWire
18 Sep 14 15:50:22
Timothy Cabral S, Chief Financial Officer of Veeva Systems Inc Sells $883,077 Worth of $VEEV - #Form4 ... - http://t.co/feoFgdEs7B
Alexander Morris
18 Sep 14 11:17:47
$VEEV: Exc 1DyHIGH=29.92, hits:2, ch:+2.6%, 0phNewHi:BrkPLo+PHi[+202.2%], tf:7f, MedFlt[29.9M], HiPctSht[32%:5d], PrvClGap+[+1.7%]
US Banking News
18 Sep 14 09:49:25
Veeva Systems’s Outperform Rating Reiterated at Pacific Crest $VEEV http://t.co/YhjKVB3FC5
Sleek Money
18 Sep 14 09:35:37
Veeva Systems Earns Outperform Rating from Pacific Crest $VEEV http://t.co/y4XzQ34KEl
WKRB News
18 Sep 14 09:30:20
Veeva Systems’s Outperform Rating Reiterated at Pacific Crest $VEEV http://t.co/7IhF2uCS3V
Eugene Levitsky
18 Sep 14 09:28:22
I expect $VEEV sideways movement next week, but it's looking stronger to move up long term.
Analyst Ratings
18 Sep 14 09:14:29
Veeva Systems's outperform rating reiterated at Pacific Crest. $35.00 PT. http://t.co/oJTZQK3ThN $VEEV #VEEV
US Consumer News
18 Sep 14 09:14:22
Veeva Systems's outperform rating reiterated at Pacific Crest. $35.00 PT. http://t.co/ZsHZwJ0D1Q $VEEV #VEEV
WKRB News
18 Sep 14 08:59:30
Veeva Systems Earns “Buy” Rating from Deutsche Bank $VEEV http://t.co/deknetY4Y6
US Banking News
18 Sep 14 08:36:18
Deutsche Bank Reaffirms Buy Rating for Veeva Systems $VEEV http://t.co/vslI3mOhnM
Kirk Kornegay
18 Sep 14 08:26:28
I still like the looks of $VEEV still holding upper half of earnings gap-n-go - needs about 30.40 to get moving http://t.co/LqTDDVk9PI
Sleek Money
18 Sep 14 08:23:57
Veeva Systems’s Buy Rating Reaffirmed at Deutsche Bank $VEEV http://t.co/fINRzYIBCW
Analyst Ratings
18 Sep 14 08:19:25
Veeva Systems's buy rating reiterated at Deutsche Bank. $35.00 PT. http://t.co/Ew2z1DheHF $VEEV #VEEV
US Consumer News
18 Sep 14 08:18:56
Veeva Systems's buy rating reiterated at Deutsche Bank. $35.00 PT. http://t.co/x54YTCn70q $VEEV #VEEV
Dave Kelly
18 Sep 14 07:39:24
Selling $VEEV into the overall market strength. It still has breakout potential but resistance is strong in this one!
James P Worthy
18 Sep 14 07:32:09
$VEEV Christopher Lord's Criterion Capital Raises Exposure To Veeva Systems Inc ... http://t.co/kS5kcgFV2e
Samuel Brown
18 Sep 14 07:32:08
$VEEV Why Veeva Systems Inc's Shares Are Zooming Higher http://t.co/c2xeWpCKBv
Ticker Report
18 Sep 14 06:50:19
Insider Selling: Young A. Sohn Sells 55,000 Shares of Veeva Systems Stock $VEEV http://t.co/cg6AuKbuOa
Ticker Report
18 Sep 14 06:50:18
Insider Selling: Veeva Systems Director Sells 60,000 Shares of Stock $VEEV http://t.co/tPVlSXJ1F2
InterCooler
18 Sep 14 06:37:03
Veeva Systems CFO Timothy S. Cabral Sells 7,230 Shares $VEEV http://t.co/NaQXHTsdzd
BUMBLEBEECHARTS
18 Sep 14 06:25:29
$VEEV Check out VEEV today
FonsieTrader
18 Sep 14 04:33:16
Bearish MACD Crossovers 3/3 $PENN $PRAN $SAIC $SIG $SINA $SIX $SNE $SON $TOT $UCBI $UTX $VEEV $WCG $XONE $XXIA $ZGNX http://t.co/hEF5CYmNHq
anubhav bansal
17 Sep 14 19:26:43
Insider Selling: Veeva Systems Director Unloads 60,000 Shares of Stock $VEEV http://t.co/oaiedU0LoN via @RatingsNetwork
InterCooler
17 Sep 14 17:51:35
Insider Selling: Young A. Sohn Unloads 55,000 Shares of Veeva Systems Stock $VEEV http://t.co/GaZPPGub7H
US Banking News
17 Sep 14 17:08:39
Insider Selling: Veeva Systems major shareholder Sells 55,000 Shares of Stock $VEEV http://t.co/BPThwTRKKW
US Banking News
17 Sep 14 17:08:39
Insider Selling: Veeva Systems Director Unloads 60,000 Shares of Stock $VEEV http://t.co/AYwkQdmx2O
InsiderTradingWire
17 Sep 14 13:25:15
Mark Armenante, of Veeva Systems Inc Sells $1,810,175 Worth of $VEEV - #Form4 #InsiderTrading - http://t.co/1WuCsgbMzS
john smith
17 Sep 14 13:25:09
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/LU2jy2prOs
InsiderTradingWire
17 Sep 14 13:25:09
Young Sohn A, of Veeva Systems Inc Sells $1,657,542 Worth of $VEEV - #Form4 #InsiderTrading - http://t.co/nd8AT08IoS
john smith
17 Sep 14 13:25:08
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/0W4RlWnA6y
John VDW
17 Sep 14 10:44:35
$veev adding to long
Eugene Levitsky
17 Sep 14 09:12:01
Staying away from many recent momentum stocks. I think much sideways movement is ahead. $TWTR $VEEV $SPLK $TSLA $GRPN $YELP $YHOO $NFLX
Clair Voight
17 Sep 14 09:01:11
$VEEV Why Veeva Systems Inc's Shares Are Zooming Higher http://t.co/0gYxBcHskU
FonsieTrader
17 Sep 14 04:24:20
Parabolic Sar Sell Signals 3/3 $PTC $RMBS $SAPE $SNSS $SPPI $TEL $TJX $TMO $VEEV $WCN $WPCS $WWW http://t.co/D6C6LoTpi9
US Banking News
16 Sep 14 19:43:40
Veeva Systems Stock Price Down 2% After Insider Selling $VEEV http://t.co/pDZeTSGysg
WKRB News
16 Sep 14 19:19:20
Veeva Systems Stock Price Down 2% After Insider Selling $VEEV http://t.co/IruSGjTOTq
Ticker Report
16 Sep 14 17:17:03
Veeva Systems CFO Sells $223,407 in Stock $VEEV http://t.co/3MM35hSWrT
US Banking News
16 Sep 14 17:06:04
Insider Selling: Timothy S. Cabral Unloads 7,230 Shares of Veeva Systems Stock $VEEV http://t.co/LtXS6td8YD
Sleek Money
16 Sep 14 16:54:58
Insider Selling: Timothy S. Cabral Unloads 7,230 Shares of Veeva Systems Stock $VEEV http://t.co/XwYdePjxf6
Americanbulls
16 Sep 14 14:58:42
$VEEV may go up 27% if the bull pattern is confirmed. Chk confirmation [50%] @ http://t.co/KDmomo6v9x. Buy level:29.9200.
NASDAQ
16 Sep 14 13:52:59
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/dH47YZKO4o
				
				
By  +Follow October 14, 2013 6:37PM
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