VEEV

Veeva Systems Inc - Ordinary Shares - Class A

TMT, Software


Presented:06/20/2024
Price:$183.80
Cap:$29.71B
Current Price:$210.00
Cap:$34.01B

Presented

Date06/20/2024
Price$183.80
Market Cap$29.71B
Ent Value$27.93B
P/E Ratio54.21x
Book Value$30.25
Div Yield0%
Shares O/S161.65M
Ave Daily Vol1,015,582
Short Int1.48%

Current

Price$210.00
Market Cap$34.01B
Veeva Systems, Inc. engages in the provision of industry cloud solutions for the global life sciences industry. Its 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. The firm's customer relationship management solutions enable its customers to increase the productivity and compliance of their sales and marketing functions. Its regulated content management and collaboration solutions enable its customers to more efficiently manage regulated, content-centric processes across the enterprise. The company's customer master solution enables customers to more effectively manage complex healthcare provider and healthcare organization data. The company was founded by Mark Armenante, Peter P. Gassner, Doug Ostler, Mitch Wallace and Matthew J. Wallach on January 12, 2007, and is headquartered in Pleasanton, CA.

Publicly traded companies mentioned herein: IQVIA Holdings Inc (IQV), Salesforce.com (CRM), Veeva Systems (VEEV)

Highlights

The presenter is long shares of Veeva Systems (VEEV), which provides critical software solutions within the pharmaceutical industry, despite acknowledging short-term risks from competitive pressures and potential customer churn. While the company’s replatforming and recent CFO change present near-term overhangs on the stock, he sees VEEV as a rare software asset with best-in-class margins that is currently trading at a 5% FCF yield. As trends improve and negative headlines around competition with CRM fade, he thinks it should trade closer to a 3% FCF yield, which would be close to a 50% upside. 

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Idea Discussion

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