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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.

 

 

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Results for veev
Estimize
25 May 15 08:08:48
@financ_advice $VEEV is reporting earnings for Q1 2016 on 05/28/15 – http://t.co/LQQnslAT9L
Capital Market Labs
25 May 15 07:45:22
$VEEV Revenue and Earnings are Rising. #CML_VEEV #CML_Revenue #CML_Earnings http://t.co/LB9e0IN1Ap http://t.co/cLQobCm9br
john smith
24 May 15 19:36:02
$VEEV - 3 Stocks That Could Make Huge Moves This Week http://t.co/9pDKqM3WCf
Breaking News Now
24 May 15 19:34:02
$GME $ANF $VEEV: 3 Stocks That Could Make Huge Moves This Week: http://t.co/D0WFe2wALD
Capital Market Labs
24 May 15 16:51:43
$VEEV Assets are Increasing. #CML_VEEV #CML_Assets http://t.co/R02ma12WLZ http://t.co/4nHjgVPAUZ
ProTradersNews
24 May 15 04:58:10
$VEEV: Insider Selling: Veeva Systems major shareholder Sells ...: http://t.co/cz2ogUWAmX
Capital Market Labs
23 May 15 18:24:00
$VEEV Research and Development is Increasing. #CML_VEEV #CML_Research_and_Development http://t.co/KA5Ra1tJvS http://t.co/jpDyGRMLlf
Capital Market Labs
23 May 15 15:54:00
$VEEV Assets and Earnings are Growing. #CML_VEEV #CML_Assets #CML_Earnings http://t.co/a2UfrkclTa http://t.co/GlnayYlygl
The Legacy News
23 May 15 07:55:32
Insider Selling: Young A. Sohn Sells 55,000 Shares of Veeva Systems Stock $VEEV http://t.co/lVqagjIk7u
BreakingStocksNews
23 May 15 07:55:04
$VEEV: Insider Selling: Young A. Sohn Sells 55000 Shares of Veeva ...: http://t.co/7rhKih2pcK
Capital Market Labs
23 May 15 05:33:13
$VEEV Revenue is Expanding. #CML_VEEV #CML_Revenue http://t.co/DAdQ1LxEGS http://t.co/8AmBk91wwE
Capital Market Labs
23 May 15 02:55:52
$VEEV Assets are Increasing. #CML_VEEV #CML_Assets http://t.co/R02ma12WLZ http://t.co/Y0slaBfP0G
ProTradersNews
22 May 15 13:18:03
$VEEV: Stock in Motion: Veeva Systems Inc. (NYSE:VEEV): http://t.co/iTms8vPKaw
Sleek Money
22 May 15 13:05:41
Veeva Systems major shareholder Young A. Sohn Sells 55,000 Shares $VEEV http://t.co/XxZX2Fy5zJ
Breaking News Now
22 May 15 12:58:05
$VEEV: Veeva Systems major shareholder Young A. Sohn Sells 55000 ...: http://t.co/k7PrGmv4Uo
RH
22 May 15 11:29:46
@stt2318 are you still bullish on $veev? Can't seem to stay over 28
James P Worthy
22 May 15 11:05:26
$VEEV Why Veeva Systems Inc. Shares Are Soaring http://t.co/LDQY7zO2hs
RealMoney
22 May 15 10:34:34
Daily Bull Chart: Vista Outdoor, Veeva Systems, GoPro $VEEV http://t.co/e3fDT0DHg2
ABBA
22 May 15 10:30:59
$MODN represents a great buyout target for $VEEV. $MODN cap is $287M or EV of $187M excluding cash. $MODN has an 50%+ upside from here !!
RH
22 May 15 10:11:53
Stsrted a swing in $aal $box $veev for next week pretty large positions in all
RealMoney
22 May 15 10:03:06
Daily Bear Chart: Vista Outdoor, Veeva Systems, GoPro $VEEV http://t.co/hhlFunjiST
John Ablemann
22 May 15 10:01:32
$VEEV Veeva Systems Inc (VEEV) Insider Selling : Young A Sohn Sells 55000 Shares. http://t.co/9UGAbdjCDZ
A. Maceroni
22 May 15 07:42:15
@AnthonyMaceroni $AAPL $BABA $GPRO $TWTR $FB $GOOG $NFLX. Do I have ur attention now? $VEEV now above 28 r line & looking nice... Real nice
Ticker Report
22 May 15 04:42:07
Veeva Systems major shareholder Young A. Sohn Sells 55,000 Shares $VEEV http://t.co/coHqi0IbUQ
Dakota Financial
22 May 15 04:39:39
Veeva Systems major shareholder Young A. Sohn Sells 55,000 Shares $VEEV http://t.co/Qy3kP0UpTB
Breaking News
22 May 15 04:39:02
$VEEV: Veeva Systems major shareholder Young A. Sohn Sells 55000 ...: http://t.co/RtLTmBHS96
ProVesting
21 May 15 21:55:02
$VEEV: Veeva Systems Inc (VEEV) Insider Selling : Young A Sohn Sells ...: http://t.co/x7P3FzIO0I
Invest | Donate
21 May 15 20:10:25
@IHPosts: VEEV Veeva Systems Inc. Chart Click Here -> http://t.co/BvAeKRD5hi Trending $VEEV $SHAK $IBM $DRYS #VEEV #invest #investing
Capital Market Labs
21 May 15 19:47:49
$VEEV Assets and Earnings are Increasing. #CML_VEEV #CML_Assets #CML_Earnings http://t.co/IQ3t85Vtgr http://t.co/Rbrl11nYHH
Investors Hangout
21 May 15 19:47:11
VEEV Veeva Systems Inc. Chart Click Here -> http://t.co/4UprqG5FCO Trending $VEEV $SHAK $IBM $DRYS #VEEV #invest #investing
Venky Srinivasan
21 May 15 19:19:56
$VEEV Still looks good with bullish technicals. Updated chart from yesterday. http://t.co/LUODqiS6Yf
Ryan McManigal
21 May 15 15:37:19
$VEEV is showing strong indicators of dropping hard after earnings on 5/28
Capital Market Labs
21 May 15 15:02:02
$VEEV Earnings are Increasing. #CML_VEEV #CML_Earnings http://t.co/A6Ge2KEj1b http://t.co/UJTIIlqrYf
John Ablemann
21 May 15 14:03:46
$VEEV UBS Says Veeva Systems Inc. Is a "Buy" -- but Should You Care? http://t.co/E398ZZc3iN
john smith
21 May 15 13:29:09
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/oEqY5nsVS3
InsiderTradingWire
21 May 15 13:25:25
Young Sohn A Sells $1,523,849 Worth of $VEEV Veeva Systems Inc. Class A Comm - #Form4 #InsiderTrading - http://t.co/b7bjHOsPKw
Insider Filings
21 May 15 13:25:13
$VEEV: Sohn Young A sold a net $1,523,848 in VEEVA SYSTEMS INC. http://t.co/mggJpQm9Kx
A. Maceroni
21 May 15 12:20:48
@AnthonyMaceroni $VEEV will most likely stay within this triangle at least until ER on 5/28 especially w 1 less trading session next week.
Napeson Hyman
21 May 15 11:33:25
$veev has a wall of bricks over its head at 28.
Ross
21 May 15 06:07:11
RT @AnthonyMaceroni: $VEEV now approaching b/o territory. Potential gap fill w break above 28. Recent Q showed 13% incr in fund ownership. …
A. Maceroni
21 May 15 05:49:48
@AnthonyMaceroni It's wise to invest in strong companies w/in strong industries in strong sectors. $VEEV #healthcare http://t.co/r7tSI3XqWj
john smith
21 May 15 04:05:01
$VEEV - Medac Pharma, Inc. Fast-tracks Successful U.S. Launch of Rasuvo™ with Veeva Commercial Cloud http://t.co/FVT2r2Md33
A. Maceroni
21 May 15 03:33:58
$VEEV now approaching b/o territory. Potential gap fill w break above 28. Recent Q showed 13% incr in fund ownership. http://t.co/aspoDjGdnu
MyAllies Trading
21 May 15 01:05:14
$VEEV Medac Pharma, Inc. Fast-tracks Successful U.S. Launch of Rasuvo™ with Veeva Commercial Cloud http://t.co/hWEcLK6LdR
Capital Market Labs
20 May 15 23:42:05
$VEEV Revenue is Expanding. #CML_VEEV #CML_Revenue http://t.co/DAdQ1LxEGS http://t.co/57hBPQGa6j
Capital Market Labs
20 May 15 14:41:57
$VEEV Earnings are Increasing. #CML_VEEV #CML_Earnings http://t.co/HyedNSQ0P6 http://t.co/Xd28DUNhz9
Capital Market Labs
20 May 15 13:13:28
$VEEV Revenue and Earnings are Expanding. #CML_VEEV #CML_Revenue #CML_Earnings http://t.co/LB9e0IN1Ap http://t.co/L3np2aQx84
John Turner
20 May 15 09:03:11
$VEEV UBS Says Veeva Systems Inc. Is a "Buy" -- but Should You Care? http://t.co/XBRh2MRIha
Capital Market Labs
20 May 15 07:32:32
$VEEV Assets and Earnings are Increasing. #CML_VEEV #CML_Assets #CML_Earnings http://t.co/a2UfrkclTa http://t.co/onCmelCWD3
Sylvie Briere
20 May 15 06:22:35
RT @perrone_ken: $VEEV. It's a beautiful thing!
				
				
By  +Follow October 14, 2013 6:37PM
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