Model N (NYSE:MODN) Sees Large Volume Increase

Model N, Inc. (NYSE:MODN) saw an uptick in trading volume on Tuesday . 245,115 shares were traded during mid-day trading, a decline of 53% from the previous session’s volume of 517,806 shares.The stock last traded at $29.84 and had previously closed at $29.65.

Wall Street Analyst Weigh In

A number of research firms have commented on MODN. Needham & Company LLC reissued a “hold” rating on shares of Model N in a report on Tuesday, April 9th. Robert W. Baird reissued a “neutral” rating and issued a $30.00 target price on shares of Model N in a report on Monday, April 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 target price on shares of Model N in a report on Tuesday, April 9th. Craig Hallum reissued a “hold” rating and issued a $30.00 target price on shares of Model N in a report on Tuesday, April 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $30.00 price objective (down from $37.00) on shares of Model N in a research report on Wednesday, April 10th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.80.

Model N Stock Performance

The company has a market capitalization of $1.16 billion, a PE ratio of -35.30 and a beta of 0.70. The company has a debt-to-equity ratio of 2.26, a quick ratio of 4.00 and a current ratio of 4.00. The stock’s fifty day simple moving average is $26.57 and its 200-day simple moving average is $25.53.

Model N (NYSE:MODN) last posted its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Model N had a negative net margin of 12.48% and a positive return on equity of 5.79%. The company had revenue of $63.49 million for the quarter, compared to analyst estimates of $62.12 million. As a group, equities analysts predict that Model N, Inc. will post 0.2 earnings per share for the current year.

Insider Activity

In other news, insider Laura Selig sold 4,770 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.38, for a total transaction of $125,832.60. Following the completion of the transaction, the insider now owns 143,866 shares of the company’s stock, valued at approximately $3,795,185.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Laura Selig sold 4,770 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.38, for a total transaction of $125,832.60. Following the completion of the transaction, the insider now directly owns 143,866 shares in the company, valued at approximately $3,795,185.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Christopher Lyon sold 8,124 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $25.26, for a total value of $205,212.24. Following the transaction, the executive now owns 229,721 shares of the company’s stock, valued at $5,802,752.46. The disclosure for this sale can be found here. Insiders sold a total of 72,616 shares of company stock valued at $1,897,243 in the last 90 days. 2.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Raymond James & Associates grew its holdings in Model N by 28.2% during the first quarter. Raymond James & Associates now owns 30,345 shares of the software maker’s stock worth $816,000 after acquiring an additional 6,676 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Model N by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 138,478 shares of the software maker’s stock valued at $3,725,000 after purchasing an additional 2,363 shares during the period. US Bancorp DE boosted its position in shares of Model N by 46.6% in the 1st quarter. US Bancorp DE now owns 19,375 shares of the software maker’s stock valued at $521,000 after purchasing an additional 6,156 shares during the period. PNC Financial Services Group Inc. boosted its position in Model N by 13.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,080 shares of the software maker’s stock worth $136,000 after acquiring an additional 588 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Model N by 61.2% during the 1st quarter. MetLife Investment Management LLC now owns 18,585 shares of the software maker’s stock valued at $500,000 after buying an additional 7,054 shares during the last quarter.

About Model N

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies in the United States and internationally. The company offers Global Pricing Management, which minimizes price erosion of products; Global Tender Management that enhances revenue by enabling segmentation and targeting, optimal bid pricing, and post-award tracking; Provider Management, which minimizes rebate overpayments; Payer Management that minimizes revenue leakage and noncompliance of complex contracts; Government Pricing, which optimizes revenue, and reduces the risk of fines and other penalties; and Medicaid that enhances compliance with regulatory requirements and payments of rebate claims on a timely basis and at correct rates for government Medicaid programs, as well as Validata, State Pricing Transparency Management, Advanced Membership Management, and Intelligence Cloud.