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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
iStock Market
31 Jul 15 12:09:57
RT @OphirGottlieb: Interactive Chart -> http://t.co/kn2foflQyB $VEEV Earnings are Growing. http://t.co/yeqn1xyL39
Ophir Gottlieb
31 Jul 15 12:08:55
Interactive Chart -> http://t.co/kn2foflQyB $VEEV Earnings are Growing. http://t.co/yeqn1xyL39
Capital Market Labs
31 Jul 15 08:24:31
Interactive Chart -> http://t.co/reBEN0sMfh $VEEV Assets are Expanding. http://t.co/R9WRrv9KZK
Greg David
31 Jul 15 04:52:10
Check out http://t.co/Y1RoKIXsmm. Top rated OTC trading group. Related: $VEEV $SEAS $BRKR $COTY $AGO
The Legacy News
31 Jul 15 03:57:32
Zacks Upgrades Veeva Systems to Hold $VEEV http://t.co/IV2llUT3Dw
InsiderTradingWire
30 Jul 15 16:15:09
Young Sohn A Sells $1,479,438 Worth of $VEEV Veeva Systems Inc. Class A Comm - #Form4 #InsiderTrading - http://t.co/6aMFdNrCbB
ProTradersNews
30 Jul 15 16:15:02
$VEEV: New Insider Transaction on VEEV by 10%+ Owner: http://t.co/4yIgxZoOcy
Insider Alerts
30 Jul 15 16:14:06
NEW insider transaction on $VEEV reported a moment ago: http://t.co/0Ejy56eRr2
Insider Filings
30 Jul 15 16:14:03
$VEEV: Sohn Young A sold a net $1,479,438 in VEEVA SYSTEMS INC. http://t.co/mggJpQDKC5
Capital Market Labs
30 Jul 15 15:54:23
Interactive Chart -> http://t.co/7IpQ89Op4i $VEEV Research and Development is Accelerating. http://t.co/abpKVr4qFU
dailystockplays.com
30 Jul 15 15:36:30
Ichimoku Green http://t.co/1dJFqwxYUr $USG $MHFI $GERN $PDM $CUBE $EVHC $UDR $EAT $DVAX $CFFN $VEEV $ELGX $GDOT $SSS $JCOM $SIGI $ELS $FYX
dailystockplays.com
30 Jul 15 15:36:25
Ichimoku Green http://t.co/gNt5jV6awA $USG $MHFI $GERN $PDM $CUBE $EVHC $UDR $EAT $DVAX $CFFN $VEEV $ELGX $GDOT $SSS $JCOM $SIGI $ELS $FYX
Capital Market Labs
30 Jul 15 12:05:04
Interactive Chart -> http://t.co/7sp9dCW35h $VEEV Revenue is Rising. http://t.co/onFwlMdmJR
ThinkingProfit.com
30 Jul 15 11:55:13
$VEEV: 3 open, suited signals indicate continued price decrease for about 4 more days. http://t.co/VTKxzcDS6F
The Legacy News
30 Jul 15 04:57:46
Veeva Systems Director Sells $277,500.00 in Stock $VEEV http://t.co/SvVDFwDGaC
US Consumer News
29 Jul 15 15:01:32
Veeva Systems upgraded by Zacks to hold. http://t.co/Rpm4oexVBC $VEEV #VEEV
MarketBeatCom
29 Jul 15 15:00:48
Veeva Systems upgraded by Zacks to hold. http://t.co/7Dad1SQNim $VEEV #VEEV
Ticker Report
29 Jul 15 14:56:57
Veeva Systems Lifted to “Hold” at Zacks $VEEV http://t.co/BaT8fgqPce
ProTradersNews
29 Jul 15 14:20:04
$VEEV: New SEC Filing for VEEV: Form 8-K (No. 0001564590-15-005794): http://t.co/Q61pR8eYoS
Sec Filings
29 Jul 15 14:20:03
$VEEV: VEEVA SYSTEMS INC filed a form 8-K. http://t.co/6MPfBkBFk1
SEC Filings
29 Jul 15 14:19:04
NEW SEC Filing for $VEEV filed a moment ago: http://t.co/zbFzWENP6t http://t.co/m48acFxxri
Insider Filings
29 Jul 15 13:46:14
$VEEV: Ritter Gordon sold a net $123,865 in VEEVA SYSTEMS INC. http://t.co/mggJpQDKC5
Breaking News Now
29 Jul 15 13:45:05
$VEEV: New Insider Transaction on VEEV by Director: http://t.co/OQGuz9XAA8
Insider Alerts
29 Jul 15 13:44:05
NEW insider transaction on $VEEV reported a moment ago: http://t.co/UjsnjaMtsO
Greg David
29 Jul 15 11:42:00
Check out http://t.co/Y1RoKIXsmm. Top rated OTC trading group. Related: $VEEV $SEAS $BRKR $COTY $AGO
Capital Market Labs
29 Jul 15 07:35:01
Interactive Chart -> http://t.co/Udbn1YEZ1n $VEEV Revenue and Earnings are Expanding. http://t.co/tBq4gV8UlS
Jack Trader
29 Jul 15 07:11:36
$VEEV Analysts Give Veeva Systems Inc. (NYSE:VEEV) a Consensus Price Target of $34.888 http://t.co/jOhGPK5nAM
Ophir Gottlieb
29 Jul 15 06:57:15
$VEEV Best fundamental rating -> http://t.co/1mkWYYBbv7 http://t.co/ecQLOc2YrD
Ophir Gottlieb
29 Jul 15 05:38:00
Interactive Chart -> http://t.co/aPqPS2fC8u $VEEV Assets and Earnings are Increasing. http://t.co/qHRYlL1A6I
Sleek Money
29 Jul 15 05:21:02
Mark Armenante Sells 10,000 Shares of Veeva Systems Stock $VEEV http://t.co/eEk05FNAYL
US Banking News
29 Jul 15 04:54:08
Veeva Systems Director Mark Armenante Sells $277,500 in $VEEV http://t.co/9cIHQy0EGT
US Consumer News
29 Jul 15 04:54:01
Veeva Systems Director Mark Armenante Sells $277,500 in $VEEV http://t.co/ZmgdrYSCAq
Consumer News
29 Jul 15 04:42:21
Veeva Systems Director Mark Armenante Sells $277,500 in $VEEV http://t.co/o30209N2Bc
Capital Market Labs
28 Jul 15 15:20:11
Interactive Chart -> http://t.co/reBEN0Kn6P $VEEV Assets are Increasing. http://t.co/i8deIDddKR
dailystockplays.com
28 Jul 15 15:02:51
Ichimoku Red http://t.co/K9oAIUOTkZ $RIG $NVDA $DHR $RIO $CIE $EWH $JNS $ANGI $QUNR $MAC $VSLR $RUBI $VEEV $TKPPY $BLCM $GWW $XRS $CMGE
Lucretia
28 Jul 15 13:05:54
$VEEV Healthcare Information Services Stocks Review -- Cerner, Veeva Systems, Merge ... http://t.co/doRQdARIuc
Penny Stock Secret
28 Jul 15 12:11:40
$71,000 in ONE TRADE!! By Follwing Their Signals More Info Here http://t.co/SVqoMkrw2z .. $VCV $VE $VEC $VEEV
DailyStockPicks
28 Jul 15 09:40:01
$OCLS cheap health care stock. Price target of $5. 200%+ upside $LPLA $CINF $VEEV $TBPH $AUO $VCRA investors read http://t.co/rWpJvFmAFr
Stock Trade Alerts
28 Jul 15 08:12:08
SHORT Seller Alert $VEEV - VEEVA SYSTEMS INC #ShortSeller #Stocks ~ via #AlertTrade
Dakota Financial
28 Jul 15 05:08:49
Insider Selling: Veeva Systems Director Sells 10,000 Shares of Stock $VEEV http://t.co/dsrSB2AATJ
Ticker Report
28 Jul 15 04:56:40
Insider Selling: Veeva Systems Director Sells 10,000 Shares of Stock $VEEV http://t.co/qJ44f0bXOb
Breaking News Now
27 Jul 15 15:30:02
$VEEV: New Insider Transaction on VEEV by 10%+ Owner: http://t.co/5T4mKhnwnc
Insider Alerts
27 Jul 15 15:29:04
NEW insider transaction on $VEEV reported a moment ago: http://t.co/eT3EbmP4k4
Insider Filings
27 Jul 15 15:28:43
$VEEV: Armenante Mark sold a net $277,498 in VEEVA SYSTEMS INC. http://t.co/mggJpQDKC5
Jack Trader
27 Jul 15 12:11:04
$VEEV Healthcare Information Services Stocks Review -- Cerner, Veeva Systems, Merge ... http://t.co/HfkPoqksf6
John Turner
27 Jul 15 11:37:25
$VEEV Veeva Systems: Still A Great Short (VEEV) http://t.co/tP4bz7y18z
Irma Doucet
27 Jul 15 11:37:20
$VEEV Healthcare Information Services Stocks Review -- Cerner, Veeva Systems, Merge ... http://t.co/YVI8VB0U9w
Capital Market Labs
27 Jul 15 06:49:06
Interactive Chart -> http://t.co/HKl0dDCWX9 $VEEV Assets and Earnings are Increasing. http://t.co/5nJAx2AtS3
James P Worthy
27 Jul 15 05:38:03
$VEEV Veeva Systems: Still A Great Short (VEEV) http://t.co/JFyp3KFobp
Greg David
26 Jul 15 22:34:35
Check out http://t.co/Y1RoKIXsmm. Top rated OTC trading group. Related: $VEEV $SEAS $BRKR $COTY $AGO
				
				
By  +Follow October 14, 2013 6:37PM
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