Veeva's New Offerings Drive Growth in 2Q, Showing the Appeal of Vertical-Specific Software
Veeva’s second-quarter results were largely in line with our expectations, and we are reiterating our $40 per share fair value estimate. Revenue increased 34% over the same period last year, driven by continued growth in the subscription services segment and three new seven-figure Vault contracts. We were also pleased to see higher margin non-CRM contribute a larger proportion of revenue, leading to improving gross margins consistent with our near-term outlook for the firm.During the quarter, V...
Veeva Systems provides industry cloud solutions for the life sciences industry. Veeva Commercial Cloud is a suite of multichannel customer relationship management applications, a commercial data warehouse, territory allocation and alignment applications, master data management applications and customer reference and data and services. Veeva Vault is the company's suite of cloud-based, enterprise content management applications that address the content management requirements for the company's customers'commercial functions, including medical and sales and marketing, and key research and development functions, including clinical, regulatory, quality, and, when available, safety.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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