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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
Ticker Report
28 Jan 15 04:41:59
Veeva Systems Director Sells $1,719,600.00 in Stock $VEEV http://t.co/PGB7AoQSzc
The Legacy News
27 Jan 15 04:42:21
Mark Armenante Sells 60,000 Shares of Veeva Systems Stock $VEEV http://t.co/zCaC1hDLT4
ProTradersNews
27 Jan 15 02:46:06
$VEEV: Veeva Systems Inc Insider Trading Update: http://t.co/H0I06hk7iA
Chimp
27 Jan 15 00:35:24
RT @StockSignaling: Technology Sector: Upgrades: $SPWR $SWKS $RMBS $VMW $WIN $SLH $CHl $FTR $AEIS $YELP $ATEN $CHU $ALU $ROVI $VEEV http://ā€¦
Stock Signaling
26 Jan 15 23:31:09
Technology Sector: Upgrades: $SPWR $SWKS $RMBS $VMW $WIN $SLH $CHl $FTR $AEIS $YELP $ATEN $CHU $ALU $ROVI $VEEV http://t.co/S9oPUZ8PN3 #dow
Joe W.
26 Jan 15 20:25:33
@OMaxInvestments throw $veev up on your radar, been watching ever since their last report.Trying to finally break out with limited down side
ProTradersNews
26 Jan 15 19:56:03
$VEEV: Veeva Systems Director Mark Armenante Sells 60000 Shares (VEEV): http://t.co/6DGmSk4Uap
OMAR  STOCKTRADER
26 Jan 15 19:39:15
Insider Selling: Mark Armenante Sells 60,000 Shares of Veeva Systems Stock $VEEV http://t.co/WmYy7N5L7cā€
US Banking News
26 Jan 15 19:32:55
Insider Selling: Mark Armenante Sells 60,000 Shares of Veeva Systems Stock $VEEV http://t.co/NbkdMJTD1T
ProTradersNews
26 Jan 15 19:31:03
$VEEV: Insider Selling: Mark Armenante Sells 60000 Shares of Veeva ...: http://t.co/sUztiuTT6j
WKRB News
26 Jan 15 19:15:33
Insider Selling: Mark Armenante Sells 60,000 Shares of Veeva Systems Stock $VEEV http://t.co/2dhsic13pA
InsiderTradingWire
26 Jan 15 16:25:17
Mark Armenante, of Veeva Systems Inc Sells $1,719,830 Worth of $VEEV - #Form4 #InsiderTrading - http://t.co/1YhLydCJk1
Insider Filings
26 Jan 15 16:22:21
$VEEV: Armenante Mark sold a net $1,719,830 in VEEVA SYSTEMS INC. http://t.co/mggJpQVlK9
Insider Alerts
26 Jan 15 16:21:08
$VEEV: New Insider Transaction on VEEV by 10%+ Owner Armenante Mark: http://t.co/Qrh3YHa833 http://t.co/8uedxjBqlt
Samuel Brown
26 Jan 15 14:03:15
$VEEV Why Veeva Systems Inc's Shares Are Zooming Higher http://t.co/YavegPJquJ
Harry Walkman
26 Jan 15 10:31:53
$VEEV Why Veeva Systems Inc's Shares Are Zooming Higher http://t.co/HMz51TBxl8
Markets Follower
26 Jan 15 09:50:23
$VEEV double top break out January 26, 2015 - P&F Pattern @stockcharts
12Stocks.com
26 Jan 15 08:58:56
MidCap #Stocks Trend $MWV $RKT $AXS $OC $INCY $VEEV $SIVB $RMD $CREE $EXPD $AMCX $TTC $FNFG $FHN $O $ALK @ http://t.co/gYYX3fEVde
teevee
26 Jan 15 08:34:49
$veev NICE DAY
Harry Walkman
26 Jan 15 07:33:25
$VEEV Why Veeva Systems Inc's Shares Are Zooming Higher http://t.co/f8XVAaRhrl
Nazareth Capital
26 Jan 15 07:00:22
$VEEV Regained month long uptrend today, if it holds.
Isidore Goode
26 Jan 15 06:54:06
@PaulJSingh $VEEV earnings at the end of last Nov were a blowout beat. Surprised it even sold off. It goes back to $33
Prashanth Rai
24 Jan 15 13:37:32
$veev reached $61M in year 4 of its life, $130M in year 5 and $210M in year 6.
ProVesting
23 Jan 15 15:56:04
$CERN $ATHN $VEEV: Health Care Prodded To Tech: http://t.co/w3nmeECwLh
ProTradersNews
23 Jan 15 14:01:05
$CERN $ATHN $VEEV: Cerner, Athenahealth And Veeva Chase Cloud-Based EHR: http://t.co/F1SSkjqFSe
ProTradersNews
23 Jan 15 00:16:02
$VEEV: Brokerage Firm Price Target on Veeva Systems Inc: http://t.co/n25qUH65is
Stock Signaling
22 Jan 15 23:31:14
Technology Sector: Upgrades: $SPWR $SWKS $RMBS $VMW $WIN $SLH $CHl $FTR $AEIS $YELP $ATEN $CHU $ALU $ROVI $VEEV http://t.co/S9oPUZ8PN3 #nyse
4th Quarter Capital
22 Jan 15 12:09:04
Added to $VEEV
Breaking News
22 Jan 15 04:08:03
$VEEV Conatus Pharmaceuticals Implements Veeva Vault eTMF and QualityDocs to Speed Global Clinical Trials of N... http://t.co/YntCCgsggZ
NASDAQ
22 Jan 15 04:01:03
$VEEV - Conatus Pharmaceuticals Implements Veeva Vault eTMF and QualityDocs to Speed Global Clinical Trials of http://t.co/SiylR7vrf1
john smith
22 Jan 15 04:01:01
$VEEV - Conatus Pharmaceuticals Implements Veeva Vault eTMF and QualityDocs to Speed Global Clinical Trials of http://t.co/mdbXt6wfDJ
Clark Joseph Kent
21 Jan 15 16:58:09
#IBD Top Fundamentals. Robust #earnings. Increasing sales. $LCI $SFM $WETF $REGN $BABA $LEN $VEEV $DATA $LNKD $TNET http://t.co/kW36NF1HBZ
FilingsAnalysis
21 Jan 15 12:25:09
$VEEV, 13G filed by Jpmorgan Chase & Co http://t.co/n1wVkU9MrT
mr13g
21 Jan 15 12:23:16
$VEEV Ammended SC 13G filed by: Jpmorgan Chase & Co, subject: Veeva Systems Inc, Percent: 7.9% http://t.co/g99SQMiU4O
Large Void Bot
21 Jan 15 12:00:25
Popular: $HIMX, $X, $SALE, $AXP, $AAVL, $DIG, $IWM, $TGTX, $NBIX, $FANG, $EYES, $YY, $SHLD, $VEEV
Investors Hangout
21 Jan 15 11:56:47
Stocks Trending Now: http://t.co/48sklYB0IN $MFLX $BKGMF $BYVVF $AGCR $IZEA $ETV $STNX $DFZ $CCLAF $AMKAF $VEEV $RIGL ~
john smith
21 Jan 15 11:43:23
$VEEV - Amended Statement of Ownership (sc 13g/a) http://t.co/qH1ULj2rkV
NASDAQ
21 Jan 15 11:43:09
$VEEV - Amended Statement of Ownership (sc 13g/a) http://t.co/0EVx0lRqLi
whalewisdom
21 Jan 15 11:42:25
New SC 13G/A from JPMORGAN CHASE & COMPANY concerning $VEEV. See details at http://t.co/b31XJJaphW
Breaking News
21 Jan 15 11:40:02
$VEEV: New SEC Filing for VEEV: Form SC 13G/A, No. 0000019617-15-000118 http://t.co/4frgbRJang http://t.co/6h3iuqaMye
ABBA
21 Jan 15 11:35:34
$MODN Valuation of $270M and $100M in cash. $VEEV is knocking... Recent huge deals will ensure 30%+ growth going forward
Analyst Ratings
21 Jan 15 05:45:33
Get the latest ratings for $VEEV $PAGP $AERI $ZOES $SRLP in your inbox with ARN Daily http://t.co/nSJuDtP5Bv
FonsieTrader
21 Jan 15 04:56:01
Parabolic Sar Sell Signals $SYY $USG $VEEV $WAIR $WLT $WPG $WY $WYNN $XL $YNDX http://t.co/x0ajqKG8Ft #stocks #premarket #trading
				
				
By  +Follow October 14, 2013 6:37PM
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