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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
iTales
30 Oct 14 21:39:23
Veeva Systems Flies High http://t.co/qsFbepxRZN #IBDNews via @IBDinvestors $VEEV $NVS $GILD $CRM $IMS $ORCL $MRK $LLY
Americanbulls
30 Oct 14 14:59:54
$VEEV may go up 15% if the bull pattern is confirmed. Chk confirmation [20%] @ http://t.co/KDmomo6v9x. Buy level:28.7900.
Lior Ronen
30 Oct 14 02:14:47
Visit Finro big data analysis center for financial insights into big data market http://t.co/ekw31hg6hJ $SPLK $DATA $QLIK $VEEV $VRNS $INFA
4-traders.com
29 Oct 14 16:40:02
Veeva Systems : Vault Selected by inVentiv Health Clinical to Empower Sponsors with Cloud-based eTMF Clinic... http://t.co/6wmE8CsAxL $VEEV
US Banking News
29 Oct 14 06:10:49
Brokerage Give Consensus Buy Rating to Veeva Systems $VEEV http://t.co/5YQ4B8MJI4
4-traders.com
28 Oct 14 16:40:04
Depomed : High-growth Pharmaceutical Company Drives More Efficient Reviews with Veeva Vault PromoMats http://t.co/iP5CTNvBuw $DEPO $VEEV
wininstocks2014
28 Oct 14 08:05:23
VEEV 29.25 Stock Charts $VEEV Veeva Systems Inc. Cl A (NYSE) Last Updated: 10/28/2014 10:05:27 VEEV Stock Char http://t.co/XUazFfhOSu
Scott D. James
28 Oct 14 07:46:45
$VEEV the next that may want a fib to fib move long $29.12 http://t.co/PCqcULgYqP
StockCharts.com
28 Oct 14 04:14:24
Arthur Hill: $UUP Breakout, $GLD Break Down, Plus $BBBY, $EXPR, $FL and $VEEV http://t.co/QxzoNhrEUc
4-traders.com
28 Oct 14 04:05:50
Veeva Systems : High-growth Pharmaceutical Company Drives More Efficient Reviews with Veeva Vault PromoMats http://t.co/BGgmLigrIM $VEEV
NASDAQ
28 Oct 14 04:05:12
$VEEV - High-growth Pharmaceutical Company Drives More Efficient Reviews with Veeva Vault PromoMats http://t.co/sK48GamOh1
john smith
28 Oct 14 04:05:08
$VEEV - High-growth Pharmaceutical Company Drives More Efficient Reviews with Veeva Vault PromoMats http://t.co/euLpOczUxe
InterCooler
28 Oct 14 04:04:38
Veeva Systems Receives New Coverage from Analysts at Leerink Swann $VEEV http://t.co/8ZdWHeqilY
4-traders.com
28 Oct 14 03:10:36
Veeva Systems : KCR Eliminates the Burden of Paper with Cloud-Based Content Management Solution; Innovative... http://t.co/Q3LPP1eURJ $VEEV
Ani Anirudhan
27 Oct 14 20:06:15
RT @paulwoll: $VEEV very pretty one setting up here. https://t.co/p9Aw1oAJFk
Woll Street
27 Oct 14 20:04:57
$VEEV very pretty one setting up here. https://t.co/p9Aw1oAJFk
Cesar Cravo
27 Oct 14 18:54:10
like this breakout in $VEEV today. 1st target 31.6 then 40ish http://t.co/7QU9eZjfnn
Penny Stock Secret
27 Oct 14 17:01:17
The Hottest Way to Make Millions From Stock Market.Click HERE http://t.co/SVqoMkrw2z .. $VCV $VE $VEC $VEEV
RC
27 Oct 14 16:57:47
Monday Night Charts | Momentum Trading with RaginCajun http://t.co/sDh81powqf $NLY $WFM $CYBR $ARNA $KORS $VEEV $TXRH $XONE $NMBL
12Stocks.com
27 Oct 14 16:02:55
MidCap #Stocks Performance $INCY $UAL $MU $JNPR $BRCD $TWTC $ALK $LE $AAN $LVLT $VEEV $CPA $DECK $CREE more@ http://t.co/tf79gD96D3
Walk
27 Oct 14 15:17:40
$VEEV, $XON, $EPAM, $KORS, $DPS, $ILMN, $FRGI stocks of interest - beware of earnings - daily charts >> http://t.co/trOma6Ydb6
John Ablemann
27 Oct 14 13:31:14
$VEEV Watch List: Vale S.A. (NYSE:VALE), Zogenix (NASDAQ:ZGNX), Veeva Systems ... http://t.co/9Q9O23xNwv
12Stocks.com
27 Oct 14 13:00:32
MidCap #Stocks Performance $INCY $MU $BRCD $LE $JNPR $CREE $PAY $CPA $UAL $VEEV $CMG $AAN $ALK $IDXX $XRX more@ http://t.co/tf79gD96D3
Alpha Maven
27 Oct 14 11:21:58
RT @OptionsHawk: $VEEV climbing - Reuters reported $CRM wants to make big push into Healthcare
Anthony
27 Oct 14 11:17:20
RT @OptionsHawk: $VEEV climbing - Reuters reported $CRM wants to make big push into Healthcare
Kirk Kornegay
27 Oct 14 11:10:55
Picked up $VEEV at 28.73
ABBA
27 Oct 14 08:17:25
@BorisB2 $CRM will get a much broader Healthcare offering by buying $MODN and $VEEV combined
ABBA
27 Oct 14 08:09:07
I think the better play is $VEEV to buy $MODN and sell the combined company to $CRM at much higher premium,
ABBA
27 Oct 14 08:00:02
@OptionsHawk $VEEV climbing - Reuters reported $CRM wants to make big push into Healthcare - $MODN is a better Healthcare choice !!
Sheldon McIntyre
27 Oct 14 07:51:34
$VEEV moves up to QR1 watchlist.
UplandsWealthAgency
27 Oct 14 07:51:00
RT @OptionsHawk: $VEEV climbing - Reuters reported $CRM wants to make big push into Healthcare
Day Trade Alerts
27 Oct 14 07:49:13
via #AlertTrade Price Action Alert $VEEV - VEEVA SYSTEMS INC #stocks #intraday http://t.co/VS8RO1bzXJ
Scott D. James
27 Oct 14 07:41:38
long $VEEV thru desdg TL added $AMAG long $BITA
COCKRELL GROUP
27 Oct 14 07:38:36
Steven Wardell at Leerink initiated coverage of: Everyday Health $EVDY at Outperform, with a Market Perform rating on Veeva $VEEV.
Real PnL
27 Oct 14 07:32:22
@OptionsHawk Doesn't $CRM already power $VEEV 's crm? http://t.co/DFGOs78mA7
Ani Anirudhan
27 Oct 14 07:15:01
RT @OptionsHawk: $VEEV climbing - Reuters reported $CRM wants to make big push into Healthcare
Joe Kunkle
27 Oct 14 07:14:52
$VEEV climbing - Reuters reported $CRM wants to make big push into Healthcare
Alexander Morris
27 Oct 14 07:07:21
$VEEV: Exc 1DyHIGH=28.09, hits:2, ch:+0.3%, 2phNewHi:BrkPLo+PHi[+201.9%], 8:1Accel+, tf:1000001, MedFlt[30.3M], HiPctSht[34%:10d]
Sleek Money
27 Oct 14 05:05:24
Veeva Systems Now Covered by Leerink Swann $VEEV http://t.co/w4EPVmAbIO
Ticker Report
27 Oct 14 04:43:55
Veeva Systems Earns Market Perform Rating from Analysts at Leerink Swann $VEEV http://t.co/DWH59HeEnF
Analyst Ratings
27 Oct 14 04:36:29
Veeva Systems initiated by Leerink Swann at market perform. http://t.co/wa4lczKI83 $VEEV #VEEV
US Consumer News
27 Oct 14 04:34:15
Veeva Systems initiated by Leerink Swann at market perform. http://t.co/amPHinE78B $VEEV #VEEV
natetrades
26 Oct 14 15:41:56
$VEEV chart https://t.co/uk4Yrkbsqf via http://t.co/eJgBzSEGxE
Vaidas Sib
26 Oct 14 07:33:00
Get ready for next week: Long: $TASR, $VEEV, $EBAY, $EGAN, $GRAM Shorts: $BC, $FBHS
nader_paul
26 Oct 14 05:06:14
30 #stocks #traders are shorting like crazy $SODA, $SUNE, $SPWR, $TSLA, $WUBA, $JD, $CVC, $MNK, $VEEV, $JCP, $HLF,… http://t.co/PKVZkQCj9d
natetrades
25 Oct 14 05:40:28
$VEEV chart https://t.co/hKpRrnG5jo via http://t.co/eJgBzSEGxE
Lucretia
24 Oct 14 15:31:10
$VEEV Veeva Systems Given Average Recommendation of "Buy" by Analysts (NASDAQ ... http://t.co/ZgavDyLVkS
wininstocks2014
24 Oct 14 08:18:49
VEEV 27.50 Stock Charts $VEEV Veeva Systems Inc. Cl A (NYSE) Last Updated: 10/24/2014 10:18:51 VEEV Stock Char http://t.co/RXecE9AoxX
Lucretia
24 Oct 14 05:02:34
$VEEV Veeva Systems major shareholder Young A. Sohn Sells 55000 Shares (VEEV) http://t.co/hnsKNFbhyO
Clair Voight
23 Oct 14 07:01:44
$VEEV Analyst Update: AK Steel Holding Corporation, Ford Motor Company, and Veeva ... http://t.co/1CKaUQDfE2
				
				
By  +Follow October 14, 2013 6:37PM
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