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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
Day Trade Alerts
21 Aug 14 12:45:33
via #AlertTrade Price Action Alert $VEEV - VEEVA SYSTEMS INC #stocks #intraday http://t.co/IrYJFv3qi2
Stock News Updates
21 Aug 14 10:53:44
$VEEV: Health-care IT boom: Who's the next big winner? http://t.co/AhC4wvMLov http://t.co/B6Ts2j4CMe
Jake13
21 Aug 14 10:13:46
$TMF Opinion Click here to find out if $TMF is a buy hold or sell. Watching these stocks. $EPI $VEEV $FOLD $LE http://t.co/tMLTUnnGbB
Investors Hangout
21 Aug 14 09:46:33
clayton: $VEEV 22.19 http://t.co/MtHX7fDTG3
Investors Hangout
21 Aug 14 09:46:28
clayton: $VEEV 22.19 http://t.co/4AUZpRukDb
lookn4wins
21 Aug 14 09:42:24
$DIA 200 Simple Moving Average $DIA Most recent stock chart and technical analysis. $AEM $VEEV $AMZN $PDGO $TL http://t.co/PwDGOyUYSb
lookn4wins
21 Aug 14 09:38:24
$HTZ TA $HTZ Most recent stock chart and technical analysis. $VEEV $AXAS $SMH $XLB $USO $F http://stockcharts. http://t.co/EjWuCaWTWH
clayton
21 Aug 14 09:22:08
$VEEV 22.19 http://t.co/NSw9b6G4bE
Investors Hangout
21 Aug 14 09:15:22
danrocks: $FB Showing on my streamers $VEEV $UNG $FFFC $AMD http://t.co/XzV1bJo6f5
Investors Hangout
21 Aug 14 09:15:18
danrocks: $FB Showing on my streamers $VEEV $UNG $FFFC $AMD http://t.co/dhu9GF0LDT
danrocks
21 Aug 14 09:12:46
$FB Showing on my streamers $VEEV $UNG $FFFC $AMD $XLI http://t.co/VDC4SduTlK
Auto Binary option
21 Aug 14 08:56:38
RT @CliffatMIG: $VEEV: 3 Tech Stocks in Breakout Territory With Big Volume http://t.co/qne2h7JmkT http://t.co/P6BlkIiu2b
Stock News Headlines
21 Aug 14 08:53:38
$VEEV: 3 Tech Stocks in Breakout Territory With Big Volume http://t.co/qne2h7JmkT http://t.co/P6BlkIiu2b
lookn4wins
21 Aug 14 08:38:13
$FXI Daily Chart $FXI Most recent stock chart and technical analysis. $MNKD $VEEV $AA $TIP $ERBB $TLT http://s http://t.co/zKnvx6y9eU
moderneconomist.com
21 Aug 14 08:18:04
RT @tymorapro: $VEEV: At 1DyHIGH=22.10, hits:1, ch:+0.8%, 8phNewHi:BrkPLo[+201.0%], FltBO-, 17:1Accel+, tf:1f, MedFlt[37.2M], HiPctSht[26%:…
Alexander Morris
21 Aug 14 08:14:38
$VEEV: At 1DyHIGH=22.10, hits:1, ch:+0.8%, 8phNewHi:BrkPLo[+201.0%], FltBO-, 17:1Accel+, tf:1f, MedFlt[37.2M], HiPctSht[26%:11d]
OTPicks.com
21 Aug 14 08:12:14
http://t.co/QzFp1WC0ss danrocks: $BAC Hitting Buzz $TQQQ $LEI $VEEV $SDS $IPCI: danrocks http://t.co/l8FKoePG5B http://t.co/QzFp1WC0ss
OTPicks.com
21 Aug 14 08:12:12
http://t.co/QkCFZ8q0T8 danrocks: $BAC Hitting Buzz $TQQQ $LEI $VEEV $SDS $IPCI: danrocks http://t.co/acPNzkl9Fd http://t.co/QkCFZ8q0T8
Investors Hangout
21 Aug 14 08:11:41
danrocks: $BAC Hitting Buzz $TQQQ $LEI $VEEV $SDS $IPCI http://t.co/WB9qFvWZuO
Investors Hangout
21 Aug 14 08:11:14
danrocks: $BAC Hitting Buzz $TQQQ $LEI $VEEV $SDS $IPCI http://t.co/K5HFXbLSDd
Extreme Stocks
21 Aug 14 08:09:40
danrocks: $BAC Hitting Buzz $TQQQ $LEI $VEEV $SDS $IPCI http://t.co/JwB1y7zGZg
danrocks
21 Aug 14 07:57:31
$BAC Hitting Buzz $TQQQ $LEI $VEEV $SDS $IPCI http://t.co/mwMqAv55O7
Jake13
21 Aug 14 07:35:33
$XLK Opinion Today Click here to find out if $XLK is a buy hold or sell. Watching these stocks. $GE $VEEV $WUB http://t.co/5eSuqntFoP
George Watson
21 Aug 14 07:10:13
RT @perrone_ken: Short $LOCO. Didn't think I'd find a short thesis anywhere near as compelling as $VEEV's, maybe EVER. Huge props again 2 S…
Stock News Guru
20 Aug 14 12:54:18
$VEEV: Veeva Systems major shareholder Sells $570750 in Stock (VEEV) http://t.co/bZr2twtiK4 http://t.co/hKiREeowYN
Large Void Bot
20 Aug 14 12:00:21
Popular: $SPY, $DRL, $BITA, $IWM, $BAC, $QQQ, $FB, $MNDL, $VEEV, $PTX
Stock007
20 Aug 14 11:02:04
$VEEV hitting near max O/S levels again
Lucretia
20 Aug 14 10:30:29
$VEEV Veeva Systems Director Mark Armenante Unloads 60000 Shares (VEEV) http://t.co/2aF2ULMDma
US Banking News
20 Aug 14 08:54:30
Insider Selling: Maja Kristin Unloads 25,000 Shares of Veeva Systems Stock $VEEV http://t.co/NUeSXaJKbr
US Banking News
20 Aug 14 08:54:29
Veeva Systems Director Mark Armenante Unloads 60,000 Shares $VEEV http://t.co/aeASCIdux7
Stock News Guru
20 Aug 14 08:53:31
$VEEV: Veeva to Release Fiscal 2015 Second Quarter Results on August 28, 2014 http://t.co/oJFkOOTqXr http://t.co/oDjkMoUBJW
InterCooler
20 Aug 14 08:50:50
Insider Selling: Maja Kristin Unloads 25,000 Shares of Veeva Systems Stock $VEEV http://t.co/vTe1zUxeO2
WKRB News
20 Aug 14 08:43:27
Veeva Systems Director Mark Armenante Unloads 60,000 Shares $VEEV http://t.co/rVDVHqScJM
Chris Orem
20 Aug 14 08:36:38
RT @perrone_ken: @oremchris $LOCO That's the game. Underwriters = Criminals. LOCO will mirror $VEEV. Insider rats will flee the sinking SS …
Ken Perrone
20 Aug 14 07:51:49
@oremchris $LOCO That's the game. Underwriters = Criminals. LOCO will mirror $VEEV. Insider rats will flee the sinking SS LOCO.
Peter Bardens
20 Aug 14 05:31:12
$VEEV Insider Selling: Maja Kristin Sells 25000 Shares of Veeva Systems Stock (VEEV) http://t.co/SSAWkUcbIT
john smith
20 Aug 14 04:05:13
$VEEV - Contract Research Organization Pharma Start Improves Audit Readiness with Paperless eTMF Solution from http://t.co/4JhLI5WVop
NASDAQ
20 Aug 14 04:05:12
$VEEV - Contract Research Organization Pharma Start Improves Audit Readiness with Paperless eTMF Solution from http://t.co/UlnuHavtV7
Market Updater
19 Aug 14 13:53:45
$VEEV: Veeva should be bought on any weakness, says Canaccord http://t.co/rO42HiueRo http://t.co/DFCpbAcPng
Ken Perrone
19 Aug 14 12:58:20
Short $LOCO. Didn't think I'd find a short thesis anywhere near as compelling as $VEEV's, maybe EVER. Huge props again 2 Suhail Capital!!!
Alfred Ip
19 Aug 14 08:36:02
Bullish chart setups: $VEEV $FB $NEM $SWAY $BIDU $HIMX $SFUN $SOHU $TWTR $XLY $SINA $VNET $SPY $IWM $QQQ $TLT http://t.co/kDl9jpXyXf
Ticker Report
19 Aug 14 05:57:49
Insider Selling: Veeva Systems Director Sells 60,000 Shares of Stock $VEEV http://t.co/4EEKWQo6AE
US Consumer News
18 Aug 14 22:12:01
Veeva Systems Director Mark Armenante Sells $1,357,200 in $VEEV http://t.co/4Ggpf97lHC
US Consumer News
18 Aug 14 22:12:01
Veeva Systems Major Shareholder Maja Kristin Sells $557,500 in $VEEV http://t.co/MwgtzlEFVe
Stock News Updates
18 Aug 14 19:53:25
$VEEV: Veeva to Release Fiscal 2015 Second Quarter Results on August 28, 2014 http://t.co/MfnEtYkXvt http://t.co/F2puylrpN4
US Consumer News
18 Aug 14 19:49:47
Veeva Systems Director Mark Armenante Sells $1,357,200 in $VEEV http://t.co/4Ggpf97lHC
US Consumer News
18 Aug 14 19:49:46
Veeva Systems Major Shareholder Maja Kristin Sells $557,500 in $VEEV http://t.co/MwgtzlEFVe
US Banking News
18 Aug 14 19:49:35
Veeva Systems Director Mark Armenante Sells $1,357,200 in $VEEV http://t.co/OMZuw4NL5Z
US Banking News
18 Aug 14 19:49:34
Veeva Systems Major Shareholder Maja Kristin Sells $557,500 in $VEEV http://t.co/JeINvJIc4R
Ticker Report
18 Aug 14 19:24:08
Veeva Systems major shareholder Maja Kristin Unloads 25,000 Shares $VEEV http://t.co/MXQu4C1LWA
				
				
By  +Follow October 14, 2013 6:37PM
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