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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
Capital Market Labs
20 Apr 15 14:37:31
$VEEV Earnings are Improving. http://t.co/HyedNSQ0P6 http://t.co/Yx8fpqD75n
Capital Market Labs
20 Apr 15 11:59:59
$VEEV Revenue and Earnings are Growing. http://t.co/LB9e0IN1Ap http://t.co/Ji1g8Qxp9e
Capital Market Labs
20 Apr 15 09:21:44
$VEEV Assets are Increasing. http://t.co/R02ma12WLZ http://t.co/mDIe1qC7I2
NoSQL
20 Apr 15 01:02:38
RT @Lior_Ronen: Get ready for #bigdata Q1 ER; Sign up now for #FinroFCA Earnings Dashboards http://t.co/lh97wQWN3q $SPLK $QLIK $VEEV $VRNS…
Thug Metrics News
20 Apr 15 00:37:10
RT @Lior_Ronen: Get ready for #bigdata Q1 ER; Sign up now for #FinroFCA Earnings Dashboards http://t.co/lh97wQWN3q $SPLK $QLIK $VEEV $VRNS…
Lior Ronen
20 Apr 15 00:31:46
Get ready for #bigdata Q1 ER; Sign up now for #FinroFCA Earnings Dashboards http://t.co/lh97wQWN3q $SPLK $QLIK $VEEV $VRNS $DATA $ORCL $HDP
Seeking Alpha Alerts
18 Apr 15 11:07:13
@NamelessFollow1 Subscribed to $VEEV To add another, tweet: $SYMBOL @sa_alerts To unsubscribe: unsubscribe $SYMBOL @sa_alerts
The Legacy News
18 Apr 15 06:27:31
Veeva Systems Director Sells $52,580.00 in Stock $VEEV http://t.co/8wcORZBjOg
Capital Market Labs
17 Apr 15 21:57:11
$VEEV Assets are Growing. Here's the Chart: http://t.co/R02ma12WLZ http://t.co/IYifDbbU4t
Breaking News Now
17 Apr 15 15:52:02
$VEEV: Veevas Latest Solution to Ease Medical Product Rollouts: http://t.co/b4NoYqqXT3
InsiderTradingWire
17 Apr 15 09:04:03
$VEEV | Veeva Systems Inc is down 16% since we reported $1,657,401 of insider selling on 02/26/2015. Did you ... - http://t.co/75bxWqdBEY
Breaking News
17 Apr 15 06:52:03
$VEEV: Ronald E. F. Codd Sells 2000 Shares of Veeva Systems Stock (VEEV): http://t.co/pFI1AMJJns
Sleek Money
17 Apr 15 06:50:50
Ronald E. F. Codd Sells 2,000 Shares of Veeva Systems Stock $VEEV http://t.co/jSofYIpPc4
US Consumer News
17 Apr 15 06:46:10
Veeva Systems Director Ronald Codd Sells $52,580 in $VEEV http://t.co/Z8WBLueFBH
US Banking News
17 Apr 15 06:46:10
Veeva Systems Director Ronald Codd Sells $52,580 in $VEEV http://t.co/tqwBsSE6cO
Breaking News
17 Apr 15 02:33:02
$VEEV: Veeva Systems Introduces Global Key Opinion Leader (KOL) Data ...: http://t.co/p4qTtDkLLR
BreakingStocksNews
16 Apr 15 21:40:07
$VEEV: Veeva Systems Director Ronald E. F. Codd Sells 2000 Shares (VEEV): http://t.co/r5MOtXxVMq
WKRB News
16 Apr 15 21:25:35
Veeva Systems Director Ronald E. F. Codd Sells 2,000 Shares $VEEV http://t.co/pLaGYfQ8VN
Dakota Financial
16 Apr 15 20:23:19
Insider Selling: Ronald E. F. Codd Sells 2,000 Shares of Veeva Systems Stock $VEEV http://t.co/IebfE8dbaR
US Banking News
16 Apr 15 20:17:27
Insider Selling: Ronald E. F. Codd Sells 2,000 Shares of Veeva Systems Stock $VEEV http://t.co/azWVH3UT0u
Ticker Report
16 Apr 15 19:56:28
Insider Selling: Ronald E. F. Codd Sells 2,000 Shares of Veeva Systems Stock $VEEV http://t.co/olskjQaYOg
ProVesting
16 Apr 15 19:55:03
$VEEV: Insider Selling: Ronald E. F. Codd Sells 2000 Shares of Veeva ...: http://t.co/b2hY8m7h1D
ProTradersNews
16 Apr 15 16:00:45
$VEEV: The director of Veeva Systems Inc (NYSE:VEEV), Ronald Codd ...: http://t.co/jkkefCCmsS
StockNewsWires
16 Apr 15 15:25:35
$VEEV: An Insider Mark Armenante Unloaded 60000 shares of Veeva ...: http://t.co/Vm1FYUrVU5
john smith
16 Apr 15 15:25:03
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/x0CFkz4TMJ
Insider Filings
16 Apr 15 15:22:44
$VEEV: CODD RONALD E F sold a net $52,580 in VEEVA SYSTEMS INC. http://t.co/mggJpQDKC5
BreakingStocksNews
16 Apr 15 14:43:25
$VEEV: New Insider Transaction on VEEV by 10%+ Owner: http://t.co/oN5TvIKpzH
Insider Alerts
16 Apr 15 14:43:14
NEW insider transaction on $VEEV reported a moment ago: http://t.co/trOWHrbmUQ
InsiderTradingWire
16 Apr 15 14:40:09
Mark Armenante Sells $1,583,658 Worth of $VEEV Veeva Systems Inc. Class A Comm - #Form4 #InsiderTrading - http://t.co/hlkL3KIn70
john smith
16 Apr 15 14:40:03
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/b52MOnMMvf
NASDAQ
16 Apr 15 14:40:02
$VEEV - Statement of Changes in Beneficial Ownership (4) http://t.co/gUmflq2OMx
Insider Filings
16 Apr 15 14:39:44
$VEEV: Armenante Mark sold a net $1,583,658 in VEEVA SYSTEMS INC. http://t.co/mggJpQDKC5
Income Strategies
16 Apr 15 09:32:25
$VEEV COVERED CALL Bought 200 at $27.14 Sold to Open 2 Calls, strike 27, expires May 15, 2015, price $1.20 for a ... https://t.co/u4ILXp8xn9
BreakingStocksNews
16 Apr 15 06:44:09
$VEEV: Veeva Systems Introduces Global Key Opinion Leader (KOL) Data ...: http://t.co/IzSjpukF8H
InvestWithConf
16 Apr 15 06:15:04
$VEEV: Veeva Systems Introduces Global Key Opinion Leader (KOL) Data ...... http://t.co/khTyMfWF12 http://t.co/VLhjKybryp
john smith
16 Apr 15 06:07:10
$VEEV - Veeva Systems Introduces Global Key Opinion Leader (KOL) Data and Services Solution http://t.co/NwBYftkGju
john smith
16 Apr 15 06:07:10
$VEEV - Veeva Systems Introduces Global Key Opinion Leader (KOL) Data and Services Solution http://t.co/hnxawqWgSW
ProVesting
15 Apr 15 04:05:04
$VEEV: Veeva Systems Introduces Global Key Opinion Leader (KOL) Data ...: http://t.co/8IWBvvgtZq
InvestWithConf
15 Apr 15 04:05:04
$VEEV: Veeva Systems Introduces Global Key Opinion Leader (KOL) Data ...... http://t.co/khTyMfF3Cs http://t.co/XuDoSX8wNl
Breaking News
14 Apr 15 21:27:36
$VEEV Veeva Systems Introduces Global Key Opinion Leader (KOL) Data and Services Solution http://t.co/hWEcLK6LdR
dailystockplays.com
14 Apr 15 14:57:47
Hammer http://t.co/s32v12pTnq $MHK $IJK $ALOG $POOL $THO $DWRE $BCPC $XHB $FIVE $OMI $HEWJ $ITB $CPPL $VEEV $NEWM $CIVI $KOL $AWCMY
Harry Walkman
14 Apr 15 10:01:57
$VEEV Why Veeva Systems Inc. Shares Are Soaring http://t.co/iqa9SC8tVi
ProTradersNews
13 Apr 15 15:30:33
$VEEV: Update: Short Interest of Veeva Systems Inc. Increases by 6.4%: http://t.co/4H56O1zJo5
InsiderTradingWire
13 Apr 15 15:06:42
$VEEV | Veeva Systems Inc is down 16% since we reported $1,657,401 of insider selling on 02/26/2015. Did you ... - http://t.co/XhqMWEs02Q
Irma Doucet
13 Apr 15 12:05:21
$VEEV UBS Says Veeva Systems Inc. Is a "Buy" -- but Should You Care? http://t.co/eQuZQAFArU
James P Worthy
13 Apr 15 12:05:19
$VEEV Learn Why Price T Rowe Associates Inc Just Opened Huge Veeva Systems Inc ... http://t.co/8NkOcDCwMc
				
				
By  +Follow October 14, 2013 6:37PM
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