Model N (NYSE:MODN) Given “Market Perform” Rating at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Model N (NYSE:MODN) in a research report sent to investors on Tuesday morning, Benzinga reports.

Several other research analysts also recently weighed in on the stock. StockNews.com started coverage on shares of Model N in a research report on Thursday, April 18th. They set a hold rating for the company. Needham & Company LLC restated a hold rating on shares of Model N in a research report on Monday. Robert W. Baird reiterated a neutral rating and issued a $30.00 price objective on shares of Model N in a report on Monday, April 8th. Royal Bank of Canada restated a sector perform rating and set a $30.00 target price on shares of Model N in a report on Tuesday, April 9th. Finally, Morgan Stanley restated an equal weight rating and issued a $30.00 price target (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 given a buy rating to the company’s stock. According to MarketBeat.com, Model N currently has an average rating of Hold and a consensus target price of $31.80.

Model N Stock Performance

MODN opened at $29.63 on Tuesday. Model N has a twelve month low of $20.90 and a twelve month high of $35.96. 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 company has a 50-day moving average price of $26.97 and a 200 day moving average price of $25.82.

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

Insider Buying and Selling

In related news, CEO Jason Blessing sold 27,446 shares of the firm’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 $724,025.48. Following the completion of the sale, the chief executive officer now directly owns 903,451 shares in the company, valued at $23,833,037.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Model N news, Director Dave Yarnold sold 5,000 shares of Model N stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $26.88, for a total transaction of $134,400.00. Following the completion of the sale, the director now directly owns 22,012 shares in the company, valued at $591,682.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jason Blessing sold 27,446 shares of Model N stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.38, for a total transaction of $724,025.48. Following the sale, the chief executive officer now owns 903,451 shares of the company’s stock, valued at $23,833,037.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,616 shares of company stock worth $1,897,243. Insiders own 2.55% of the company’s stock.

Institutional Investors Weigh In On Model N

A number of hedge funds have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC increased its position in shares of Model N by 15.3% during the fourth quarter. Conestoga Capital Advisors LLC now owns 3,824,894 shares of the software maker’s stock worth $103,004,000 after acquiring an additional 507,090 shares during the period. Artisan Partners Limited Partnership raised its position in Model N by 14.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,310,207 shares of the software maker’s stock valued at $80,802,000 after purchasing an additional 421,952 shares in the last quarter. Clearbridge Investments LLC raised its position in Model N by 8.2% in the 4th quarter. Clearbridge Investments LLC now owns 2,718,760 shares of the software maker’s stock valued at $73,216,000 after purchasing an additional 206,292 shares in the last quarter. Vanguard Group Inc. raised its position in Model N by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,644,961 shares of the software maker’s stock valued at $64,563,000 after purchasing an additional 128,461 shares in the last quarter. Finally, Ranger Investment Management L.P. raised its position in Model N by 8.2% in the 4th quarter. Ranger Investment Management L.P. now owns 937,846 shares of the software maker’s stock valued at $25,256,000 after purchasing an additional 70,868 shares in 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.