Veeva Systems’ Vault QMS to Manage Shionogi Product Quality

Veeva Systems Inc.’s (VEEV) flagship Vault QMS was recently selected by Japan’s Shionogi &Co. Ltd. with a view to modernize its global product quality management.

Notably, Veeva Vault QMS is a modern, cloud-based application that unifies quality management processes for better control and visibility. It ensures greater efficiency and compliance and drives operational efficiency with automated workflow.

Vault CMS will offer Shionogi greater simplicity and flexibility in product quality management and greater agility in addressing changing business requirements through its user-friendly configuration environment.

Clearly, this latest development will ascertain global foothold for the California-based provider of data solutions.

Cloud-Based Software in Focus

Veeva Systems recently released an advanced Veeva Commercial Cloud offering, Veeva CRM Engage Webinar, at the Veeva Commercial Summit Europe. According to the company, the product is a purpose-built application for life sciences to manage online events without the typical compliance risk. Veeva Systems also released Veeva Vault PromoMats Brand Portal — a new digital asset management capability that helps brand managers create portals, organize and showcase content within Veeva Vault PromoMats.

In this regard, it can be noted that for full-year 2017, Commercial Cloud subscription revenues grew almost 16% and Vault rose nearly 57%, both slightly better than management’s expectations.

Market Prospects

Per a research report by Markets and Markets, the cloud-based IT market is estimated to grow from $4.41 billion in 2016 to $8.78 billion in 2021, at a CAGR of 14.8%. A cost-efficient structure, increasing mobile workforce and advent of advanced technologies are likely to be major drivers of this market.

Price Performance

In the past six months, Veeva Systems’ shares have gained 34% compared with the industry’s rally of 18.8%.

Key Picks

Veeva Systems sports a Zacks Rank #1 (Strong Buy).

A few other top-ranked stocks in the broader medical space are athenahealth, Inc. (ATHN), Bio-Rad Laboratories, Inc. (BIO) and Centene Corporation (CNC). Each of these stocks sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

athenahealth has expected long-term growth rate of 17.7% and earnings per share growth rate of 21.5%.

Bio-Rad has expected long-term growth rate of 20% and earnings per share growth rate of 20%.

Centene has expected long-term growth rate of 14.4% and earnings per share growth rate of 14.4%.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 – 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>