JPMorgan Chase & Co. Boosts Model N (NYSE:MODN) Price Target to $25.00

Model N (NYSE:MODN) had its price target raised by JPMorgan Chase & Co. from $21.00 to $25.00 in a research note published on Wednesday, The Fly reports. JPMorgan Chase & Co. currently has a neutral rating on the software maker’s stock.

Other equities research analysts also recently issued reports about the stock. Chardan Capital reiterated a buy rating and issued a $23.00 target price on shares of Model N in a research note on Monday, May 20th. National Securities restated a buy rating on shares of Model N in a research report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Model N presently has a consensus rating of Buy and an average price target of $23.13.

Shares of NYSE MODN traded down $0.15 during mid-day trading on Wednesday, hitting $26.37. The company had a trading volume of 519,060 shares, compared to its average volume of 292,510. The company has a market cap of $812.06 million, a P/E ratio of -36.12 and a beta of 0.56. The company has a 50-day moving average price of $20.94. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.86. Model N has a one year low of $12.60 and a one year high of $26.84.

Model N (NYSE:MODN) last announced its quarterly earnings data on Tuesday, August 6th. The software maker reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. The company had revenue of $34.71 million during the quarter, compared to analysts’ expectations of $34.16 million. Model N had a negative return on equity of 27.89% and a negative net margin of 12.21%. Model N’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. On average, sell-side analysts forecast that Model N will post -0.45 earnings per share for the current year.

In related news, CFO David Barter sold 8,031 shares of Model N stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.89, for a total value of $151,705.59. Following the transaction, the chief financial officer now directly owns 179,033 shares of the company’s stock, valued at $3,381,933.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason Blessing sold 12,022 shares of Model N stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $18.89, for a total transaction of $227,095.58. Following the completion of the transaction, the chief executive officer now directly owns 362,184 shares in the company, valued at $6,841,655.76. The disclosure for this sale can be found here. Insiders sold 24,833 shares of company stock worth $467,895 over the last three months. 1.20% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in shares of Model N by 0.7% during the fourth quarter. Bank of New York Mellon Corp now owns 96,115 shares of the software maker’s stock worth $1,271,000 after buying an additional 682 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Model N by 35.8% during the first quarter. Assenagon Asset Management S.A. now owns 546,006 shares of the software maker’s stock worth $9,577,000 after buying an additional 144,024 shares during the last quarter. Paradigm Capital Management Inc. NY bought a new stake in shares of Model N during the first quarter worth $193,000. Geode Capital Management LLC grew its stake in shares of Model N by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 296,353 shares of the software maker’s stock worth $3,920,000 after buying an additional 30,155 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Model N by 7,886.8% during the first quarter. BNP Paribas Arbitrage SA now owns 5,431 shares of the software maker’s stock worth $95,000 after buying an additional 5,363 shares during the last quarter. 75.81% of the stock is currently owned by institutional investors and hedge funds.

About Model N

Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.

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