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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.

 

 

Results for veev
Ryan Walker
23 Apr 14 14:04:49
@zendecisions @BrandonandLloyd How did $WTI futures play? Went long $VIX yesterday @ 12.93 & executed $VEEV 23 puts from 04/02 #sweetgains
Ken Perrone
23 Apr 14 13:59:08
@stjamesjr @jimcramer This dipshit has been touting $VEEV since $40+\sh! So now it looks good, inbred, AR assclown??? Thanks! Buy, Buy, Buy!
Jaydan Kyler
23 Apr 14 12:33:59
$VEEV The enterprise still needs to swap out lots o http://t.co/eJtqZOSF9a
Jean Fonteneau
23 Apr 14 11:34:18
Cloud/Data liquidation mode is back on $SPLK $WDAY $NOW $CSOD $FEYE $VEEV #NotOver
Vagabundo
23 Apr 14 11:01:44
I thought $VEEV was let out of jail? Oh. That was #Weev. cc: @UdallTechStrat
Vito the Guru
23 Apr 14 06:08:51
$VEEV The enterprise still needs to swap out lots of old http://t.co/zElz3xv1P2
Fat Tail Capital
22 Apr 14 20:44:21
@firstadopter if it's anything like ours...$FUEL $CSLT $ATHN $VEEV $CRCM $COUP $SALE $CRTO $NMBL $TCS $VMEM
FJ
22 Apr 14 17:33:27
$VEEV looks like it might be ready to change the trend..4/22/14
12Stocks.com
22 Apr 14 16:00:53
MidCap #Stocks Performance $NFLX $TSLA $SCTY $HOG $DDD $WYNN $ARIA $DATA $DDS $JAZZ $FEYE $VEEV $PCYC more@ http://t.co/H27z0IZCEk
12Stocks.com
22 Apr 14 12:58:29
MidCap #Stocks Performance $SCTY $HOG $DDD $TSLA $FEYE $VEEV $DATA $ARIA $WYNN $DDS $NFLX $MGM $PCYC more@ http://t.co/H27z0IZCEk
Yu Zhu
22 Apr 14 12:36:18
RT @VikramKhanna_: CS defending $MDSO but lowers PT to $58. May have some competitive read through to $VEEV
Stock007
22 Apr 14 12:13:33
$VEEV up a buck plus from my ping this am...
Alexander Morris
22 Apr 14 11:55:03
$VEEV: 1mRunaway+:1 [+6%,.4%offHi], 3mMv:+3, 11:5Accel+, tf:3f; TLM:1.2; ILM:1.2, PrvClGap-[-0.6%], AvgDyV/R=2.21M/1.40[x1.2],
Vikram Khanna
22 Apr 14 11:42:43
CS defending $MDSO but lowers PT to $58. May have some competitive read through to $VEEV
MoMo
22 Apr 14 08:30:18
$VEEV one of our favorite long term holds breaking one-month downtrend. above heavy volume prints from last week.
The LincolnList
22 Apr 14 08:03:30
$VEEV hod break seeing a few paras
Alexander Morris
22 Apr 14 07:18:00
$VEEV: Exc 1DyHIGH=22.53 (1 Time), ch:+2.1%, 3phNewHi, 10:3Accel+, tf:3f, MedFlt[26.9M], HiPctSht[34%:4d], PrvClGap-[-0.6%],
Stock007
22 Apr 14 07:10:52
This is the type of action that $VEEV might be able to find a reversal...
Insider Monkey
21 Apr 14 13:36:45
Top Recent Hedge Funds' Moves Worth Keeping Track of http://t.co/d1ndZfb2Ja $NAV $TTF $KOF $PFSI $IR $CSLT $FIVE $BWP $VEEV
InsiderTradingWire
21 Apr 14 11:15:07
$VEEV | Veeva Systems Inc is down 16% since we reported $2,536,200 of insider selling on 04/01/2014. Did you ... - http://t.co/ROA6ZXaszM
Rey Larson
20 Apr 14 15:34:34
$VEEV The enterprise still needs to swap out lo http://t.co/lUFqQ0amcF
Stock_Tracker
20 Apr 14 10:21:42
Veeva Systems Inc (VEEV) 22.55 $VEEV Nestle Nutrition and Health Science Divisions Launch Cloud-Based Veeva CR http://t.co/ZV8IT99Ysx
Osiris Angelo
20 Apr 14 08:17:42
$VEEV The enterprise still needs to swap out lots o http://t.co/pjEQBH0def
gordon gekko is god
19 Apr 14 18:50:22
Microsoft, H-P, cloud software stocks slump following IBM/SAP misses http://t.co/tn8EMIZBcB $MSFT, $HPQ, $JIVE, $N, $VEEV, $MKTO
Karl Rosoff
18 Apr 14 16:15:03
$VEEV Three top stock picks from Matco's Jeff Parent http://t.co/Sl9WvETKym
Turner James
18 Apr 14 09:02:07
@jimcramer Jim $VEEV looks nice right here! Done some research and they are doing some good stuff, re $LLY. Thanks for mentioning them.
Ticker Report
17 Apr 14 09:42:26
Veeva Systems Director Young Sohn Unloads 55,000 Shares $VEEV http://t.co/HvDhBcErqU
Donell Edwards
17 Apr 14 07:56:03
RT @insidermonkey: Criterion Capital Bullish On Veeva Systems, Further Raises Stake To Nearly 20% http://t.co/Ow4sCqzUqw $VEEV
Insider Monkey
17 Apr 14 07:31:44
Criterion Capital Bullish On Veeva Systems, Further Raises Stake To Nearly 20% http://t.co/Ow4sCqzUqw $VEEV
john smith
17 Apr 14 03:24:03
$VEEV - Amended Statement of Ownership (sc 13g/a) http://t.co/6dH2mestd2
whalewisdom
17 Apr 14 03:05:44
New SC 13G/A from CRITERION CAPITAL MANAGEMENT LLC concerning $VEEV. See details at http://t.co/2jnPTqWKu1
Karl Rosoff
17 Apr 14 00:54:08
$VEEV Drop in Tech Stocks Hits Startup Funding http://t.co/ikFbQ0aEjo
Karl Rosoff
16 Apr 14 23:52:06
$VEEV Insider Selling: Young A. Sohn Unloads 55000 Shares of Veeva Systems Stock ... http://t.co/koCNNvtlyG
Stockchase.com
16 Apr 14 20:00:56
Veeva-Systems-Inc is Top Pick at StockChase http://t.co/5AvXsEYFBf #stockaction $VEEV-N
Stockchase.com
16 Apr 14 20:00:50
SHORT. A software company in the CRM space and they use, as their build...Veeva-Systems-Inc http://t.co/LSQbt8Vbar #stocks $VEEV-N
US Banking News
16 Apr 14 19:53:02
Insider Selling: Young A. Sohn Unloads 55,000 Shares of Veeva Systems Stock $VEEV http://t.co/Qw1tw7gOAA
Zolmax News
16 Apr 14 19:40:23
Insider Selling: Young A. Sohn Unloads 55,000 Shares of Veeva Systems Stock $VEEV http://t.co/nKL3YF4wD8
Stockchase.com
16 Apr 14 19:00:56
Veeva-Systems-Inc is Top Pick at StockChase http://t.co/5AvXsEYFBf #stockaction $VEEV-N
Stockchase.com
16 Apr 14 19:00:51
SHORT. A software company in the CRM space and they use, as their build...Veeva-Systems-Inc http://t.co/LSQbt8Vbar #stocks $VEEV-N
Babara Blodgett
16 Apr 14 17:30:17
$VEEV The enterprise still needs to swap out lo http://t.co/TGmWHsnJcV
john smith
16 Apr 14 16:04:34
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/DWk1QH68Ha
john smith
16 Apr 14 16:04:32
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/qE0nuGVrOz
Alexander Morris
16 Apr 14 11:44:33
$VEEV: At 1DyHIGH=22.32 (4 Times), ch:+0.8%, FltBO-, tf:3f, MedFlt[26.9M], HiPctSht[32%:3d], goPop+[+0.6%], AvgDyV/R=3.19M/1.69
Alexander Morris
16 Apr 14 09:29:47
$VEEV: Exc 1DyHIGH=22.32 (3 Times), ch:+0.8%, FltBO-, tf:3f, MedFlt[26.9M], HiPctSht[32%:3d], goPop+[+0.6%], AvgDyV/R=3.19M/1.69
Fausto Tilley
16 Apr 14 08:42:48
$VEEV The enterprise still needs to swap out lo http://t.co/PV19lajiTr
				
				
By  +Follow October 14, 2013 6:37PM
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