Model N (NYSE:MODN) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Model N (NYSE:MODN) in a report published on Saturday. The brokerage issued a hold rating on the software maker’s stock.

Several other equities analysts also recently commented on MODN. 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. Royal Bank of Canada reaffirmed a sector perform rating and issued a $30.00 price objective on shares of Model N in a research note on Tuesday, April 9th. Morgan Stanley reissued an equal weight rating and issued a $30.00 target price (down from $37.00) on shares of Model N in a report on Wednesday, April 10th. JMP Securities reiterated a market perform rating on shares of Model N in a research report on Tuesday, April 23rd. Finally, Needham & Company LLC restated a hold rating on shares of Model N in a research report on Monday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $31.80.

Model N Trading Up 0.3 %

Shares of NYSE:MODN opened at $29.77 on Friday. The company has a market cap of $1.16 billion, a PE ratio of -35.44 and a beta of 0.68. Model N has a 12-month low of $20.90 and a 12-month high of $35.96. The stock has a 50 day moving average of $27.67 and a 200 day moving average of $26.20. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 2.26.

Model N (NYSE:MODN) last issued its quarterly earnings results on Monday, May 6th. The software maker reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Model N had a positive return on equity of 5.79% and a negative net margin of 12.48%. The business had revenue of $65.10 million during the quarter, compared to analysts’ expectations of $64.45 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that Model N will post 0.2 EPS for the current year.

Insider Buying and Selling

In other Model N news, CEO Jason Blessing sold 27,446 shares of the company’s stock in a transaction on Friday, February 16th. The stock was 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 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 can be accessed through this link. In related news, insider Laura Selig sold 4,770 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $26.38, for a total transaction of $125,832.60. Following the transaction, the insider now directly owns 143,866 shares of the company’s stock, valued at approximately $3,795,185.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason Blessing sold 27,446 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $26.38, for a total value of $724,025.48. Following the sale, the chief executive officer now owns 903,451 shares in the company, valued at approximately $23,833,037.38. 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 over the last three months. 2.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. acquired a new position in shares of Model N in the 3rd quarter valued at about $34,000. International Assets Investment Management LLC lifted its stake in shares of Model N by 1,594.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,558 shares of the software maker’s stock valued at $69,000 after purchasing an additional 2,407 shares during the period. SG Americas Securities LLC purchased a new stake in Model N during the fourth quarter worth $115,000. Hardy Reed LLC purchased a new position in Model N in the first quarter valued at $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Model N by 27.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,054 shares of the software maker’s stock worth $197,000 after acquiring an additional 1,743 shares during the period.

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.