Model N (NYSE:MODN) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Model N (NYSE:MODN) in a research note released on Saturday morning. The brokerage issued a hold rating on the software maker’s stock.

MODN has been the subject of a number of other reports. Royal Bank of Canada reaffirmed a sector perform rating and set a $30.00 price objective on shares of Model N in a report on Tuesday, April 9th. Craig Hallum reiterated a hold rating and set a $30.00 price objective on shares of Model N in a research report on Tuesday, April 9th. Robert W. Baird reissued a neutral rating and set a $30.00 price objective on shares of Model N in a report on Monday, April 8th. Needham & Company LLC reaffirmed a hold rating on shares of Model N in a research note on Tuesday, May 7th. Finally, JMP Securities reiterated a market perform rating on shares of Model N in a research report on Monday, May 6th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $31.80.

Model N Price Performance

Model N stock opened at $30.00 on Friday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -3,000,000.00 and a beta of 0.68. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 2.05. The business has a 50-day simple moving average of $29.83 and a 200 day simple moving average of $27.84. Model N has a 52 week low of $20.90 and a 52 week high of $35.96.

Model N (NYSE:MODN) last issued its quarterly earnings data on Monday, May 6th. The software maker reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). Model N had a return on equity of 6.94% and a net margin of 0.10%. The business had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $64.45 million. During the same period in the previous year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, research analysts forecast that Model N will post 0.18 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jason Blessing sold 20,179 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $29.79, for a total transaction of $601,132.41. Following the transaction, the chief executive officer now owns 884,172 shares in the company, valued at approximately $26,339,483.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Model N news, CEO Jason Blessing sold 20,179 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $29.79, for a total value of $601,132.41. Following the completion of the transaction, the chief executive officer now directly owns 884,172 shares in the company, valued at approximately $26,339,483.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura Selig sold 5,411 shares of Model N stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $29.79, for a total transaction of $161,193.69. Following the sale, the insider now directly owns 136,106 shares in the company, valued at approximately $4,054,597.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,870 shares of company stock valued at $1,545,545. Insiders own 2.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC grew its stake in Model N by 1,594.0% in the fourth quarter. International Assets Investment Management LLC now owns 2,558 shares of the software maker’s stock worth $69,000 after purchasing an additional 2,407 shares during the period. EntryPoint Capital LLC grew its position in shares of Model N by 24.8% in the 1st quarter. EntryPoint Capital LLC now owns 3,723 shares of the software maker’s stock worth $106,000 after buying an additional 741 shares during the period. SG Americas Securities LLC bought a new position in shares of Model N in the 4th quarter worth about $115,000. Hardy Reed LLC purchased a new position in Model N during the 1st quarter valued at about $219,000. Finally, Gagnon Securities LLC boosted its stake in Model N by 8.7% during the first quarter. Gagnon Securities LLC now owns 8,425 shares of the software maker’s stock worth $240,000 after acquiring an additional 677 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.