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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
Breaking News
3 Mar 15 14:22:23
$VEEV Veeva Announces Fourth Quarter and Fiscal Year 2015 Results http://t.co/hWEcLK6LdR
Declan Fallon
3 Mar 15 14:19:43
Stock Breakout: March 3rd: 22 breakouts: $DTSI, $XON (gap), $PANW, $VEEV. Three sub-$1, seven $1-2. Penny stoc... http://t.co/I2NROCibTH
Breaking News
3 Mar 15 14:19:05
$VEEV Veeva Systems Announces Intent to Acquire Key Opinion Leader (KOL) Solutions Business http://t.co/hWEcLJP9Ph
InterCooler
3 Mar 15 14:17:51
Veeva Systems Inc $VEEV Updates FY16 Earnings Guidance http://t.co/Qns24vYl7X
InterCooler
3 Mar 15 14:17:50
Veeva Systems Inc $VEEV Updates Q1 Earnings Guidance http://t.co/3nULb25liI
US Banking News
3 Mar 15 14:17:30
Veeva Systems Inc $VEEV Updates FY16 Earnings Guidance http://t.co/wkN1YT3uSh
US Banking News
3 Mar 15 14:17:30
Veeva Systems Inc $VEEV Updates Q1 Earnings Guidance http://t.co/ZfFF3eyysv
Tremal
3 Mar 15 14:14:47
$veev tomorrow won't be a seller just sit and wait to see the move
Declan Fallon
3 Mar 15 14:13:20
22 breakouts: $DTSI, $XON (gap), $PANW, $VEEV. Three sub-$1, seven $1-2. Penny stock creep is bad news for bulls.
Stockguy22University
3 Mar 15 14:12:54
RT @stockguy22: #AfterHours Movers RECAP UP $NPTN $TIVO $SWHC $AVAV $AMBA DOWN $FOLD $ACHN $VEEV $TNET $BOBE Have a great night http:/…
Stockguy22
3 Mar 15 14:12:47
#AfterHours Movers RECAP UP $NPTN $TIVO $SWHC $AVAV $AMBA DOWN $FOLD $ACHN $VEEV $TNET $BOBE Have a great night http://t.co/gUnxzCqhwt
Sarcasm Bot
3 Mar 15 14:12:36
$VEEV Insiders selling YOU their shares...
StockNewsWires
3 Mar 15 14:12:15
$VEEV: Veeva Drops 10% Despite FYQ4 Beat; Says Will Buy Assets for ...: http://t.co/VVcpRjB2Yf
Tremal
3 Mar 15 14:09:17
$veev updates 2015 2016 beat exp
US Banking News
3 Mar 15 14:04:23
Veeva Systems Inc updates FY16 guidance to $0.43-0.45 EPS & revenue guidance to $390-395 million. http://t.co/U0ySawh1LB $VEEV #VEEV
US Banking News
3 Mar 15 14:04:22
Veeva Systems Inc updates Q1 guidance to approx $0.10 EPS & revenue guidance to $87-88 million. http://t.co/A2RHaSSmga $VEEV #VEEV
Large Void Bot
3 Mar 15 14:00:38
Popular: $SWHC, $OFC, $VEEV, $AMBA, $ZLTQ, $TGT, $FOLD, $CCE, $CDW, $WIA, $AEO, $CMI, $CENT, $INFI, $HEES, $CECO, $NCLH, $SPTN, $FXE, $HBI
Stock Trade Alerts
3 Mar 15 13:54:42
Veeva Systems $VEEV Stock Falls in After-Hours Trading After Earnings Report http://t.co/QiTjv7EN3r
StockNewsWires
3 Mar 15 13:52:02
$VEEV: Veeva Systems (VEEV) Stock Falls in After-Hours Trading After ...: http://t.co/1wKLHjKI3V
TheStreet Alerts
3 Mar 15 13:51:08
Veeva Systems $VEEV Stock Falls in After-Hours Trading After Earnings Report http://t.co/m3IMChWLiS
Market_Disciple
3 Mar 15 13:49:24
RT @StockReversals: $VEEV we treat swing trades with discipline and like burning matches. When they flare up big we take profits or at leas…
Trader Daily
3 Mar 15 13:48:33
Veeva Systems $VEEV Stock Falls in After-Hours Trading After Earnings Report http://t.co/LlfcRBgGd1
Grant Beasley
3 Mar 15 13:46:26
$VEEV oops. That's why you don't buy ahead of earnings.
Stock Reversals
3 Mar 15 13:46:20
$VEEV we treat swing trades with discipline and like burning matches. When they flare up big we take profits or at least reduce our position
ProTradersNews
3 Mar 15 13:46:04
$VEEV: Veeva Systems (VEEV) Reports In-Line Q4 EPS; Guides Q1, FY16 ...: http://t.co/ocfw6pnnnF
Breaking News Now
3 Mar 15 13:46:03
$VEEV: Veeva Systems Inc.: Veeva Systems Announces Intent to Acquire ...: http://t.co/bjUMmBZX2v
US Banking News
3 Mar 15 13:45:42
Veeva Systems announces earnings. $0.09 EPS. Meets estimates. $87.00m revenue. http://t.co/uld90VGht7 $VEEV #VEEV
Joe W.
3 Mar 15 13:45:20
$veev getting the biz, guess they spent too much in Q4 compared to rev increase. Very big short interest and they're in control
Suhail Mughal
3 Mar 15 13:43:58
Veeva Systems Announces Intent to Acquire CrowdLink -- Qforma's Key Opinion Leader (#KOL) Solutions http://t.co/1uVw8dB9Tz $VEEV
US Banking News
3 Mar 15 13:34:14
Veeva Systems $VEEV Issues Quarterly Earnings Results, Hits Expectations http://t.co/yJnsiFlz7Y
InterCooler
3 Mar 15 13:32:34
Veeva Systems $VEEV Issues Quarterly Earnings Results, Hits Expectations http://t.co/2fB3Rjxj97
Νιcholaς
3 Mar 15 13:32:10
RT @stageanalysis: $VEEV Stage 1B. Watching for a new Stage 2A breakout attempt http://t.co/xfB8t011IX http://t.co/hFHbb7kNxm
Stocks On The Move
3 Mar 15 13:28:14
Veeva -8.5% after FQ4 beat, in-line sales guidance http://t.co/nlzOlHAkka $VEEV
Tech Stocks SA
3 Mar 15 13:28:14
Veeva -8.5% after FQ4 beat, in-line sales guidance http://t.co/9AuriO43kS $VEEV
SA Breaking News
3 Mar 15 13:28:13
Veeva -8.5% after FQ4 beat, in-line sales guidance http://t.co/G0ErCFekyH $VEEV
Market_Disciple
3 Mar 15 13:18:56
$VEEV http://t.co/yR1lxPX3oR
StockNewsWires
3 Mar 15 13:16:04
$VEEV: Veeva Systems Announces Intent to Acquire Key Opinion Leader ...: http://t.co/aNkDrGz02l
Breaking News Now
3 Mar 15 13:16:04
$VEEV: Veeva Announces Fourth Quarter and Fiscal Year 2015 Results: http://t.co/hUhStRNXQ2
Stage Analysis
3 Mar 15 13:12:08
$VEEV Stage 1B. Watching for a new Stage 2A breakout attempt http://t.co/xfB8t011IX http://t.co/hFHbb7kNxm
Breaking News Now
3 Mar 15 13:11:06
$VEEV: Veeva Systems Announces Intent to Acquire Key Opinion Leader ...: http://t.co/h7QV4vgBbs
Breaking News
3 Mar 15 13:10:02
$VEEV: New SEC Filing for VEEV: Form 8-K (No. 0001157523-15-000806): http://t.co/coTtKJufSe
Company SEC Filings
3 Mar 15 13:09:57
NEW SEC Filing for $VEEV filed a moment ago: http://t.co/nNTspS2uyx http://t.co/zYkxB5mUmj
DK1
3 Mar 15 13:09:44
$VEEV may play common
The LincolnList
3 Mar 15 13:09:19
$VEEV on the top of the BBQ grill after hours
DK1
3 Mar 15 13:09:10
$VEEV same no position didnt like the price
john smith
3 Mar 15 13:09:07
$VEEV - Current Report Filing (8-k) http://t.co/Sk8FNb89RZ
Breaking News
3 Mar 15 13:06:08
$VEEV: Veeva Announces Fourth Quarter and Fiscal Year 2015 Results: http://t.co/VpmWqmQP4D
Breaking News Now
3 Mar 15 13:06:08
$VEEV: Veeva Systems Announces Intent to Acquire Key Opinion Leader ...: http://t.co/7biDND4Xyk
Tech Stocks SA
3 Mar 15 13:05:43
Veeva Systems beats by $0.03, beats on revenue http://t.co/yZqljX2B52 $VEEV
SA Breaking News
3 Mar 15 13:05:42
Veeva Systems beats by $0.03, beats on revenue http://t.co/MxnQ33lgMW $VEEV
				
				
By  +Follow October 14, 2013 6:37PM
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