Model N (NYSE:MODN) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Model N (NYSE:MODN – Get Rating) from a hold rating to a buy rating in a research note issued to investors on Monday.

Several other brokerages have also issued reports on MODN. Truist Financial boosted their price target on Model N from $45.00 to $52.00 in a research note on Wednesday, February 8th. Robert W. Baird upped their target price on Model N to $44.00 in a research report on Wednesday, December 14th. BTIG Research upped their target price on Model N from $42.00 to $48.00 in a research report on Wednesday, February 8th. Finally, Needham & Company LLC upped their target price on Model N from $42.00 to $47.00 and gave the stock a buy rating in a research report on Wednesday, February 8th.

Model N Price Performance

Shares of MODN opened at $31.45 on Monday. Model N has a 52-week low of $20.95 and a 52-week high of $43.18. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.85 and a current ratio of 2.85. The business’s 50 day moving average price is $37.65 and its two-hundred day moving average price is $36.52. The firm has a market cap of $1.19 billion, a PE ratio of -43.68 and a beta of 0.68.

Model N (NYSE:MODN – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The software maker reported ($0.05) earnings per share (EPS) for the quarter. Model N had a negative net margin of 11.65% and a negative return on equity of 7.52%. The business had revenue of $59.15 million during the quarter, compared to analyst estimates of $57.51 million. On average, equities analysts anticipate that Model N will post 0.02 EPS for the current year.

Insider Buying and Selling

In related news, CRO Christopher Lyon sold 6,556 shares of the company’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $35.04, for a total transaction of $229,722.24. Following the completion of the sale, the executive now owns 152,600 shares in the company, valued at $5,347,104. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Model N news, insider Mark Albert Anderson sold 5,961 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $40.73, for a total value of $242,791.53. Following the completion of the transaction, the insider now owns 214,023 shares in the company, valued at approximately $8,717,156.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Christopher Lyon sold 6,556 shares of the company’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $35.04, for a total value of $229,722.24. Following the completion of the transaction, the executive now owns 152,600 shares of the company’s stock, valued at approximately $5,347,104. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,376 shares of company stock worth $1,728,153. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new position in Model N in the 3rd quarter valued at $29,000. Tower Research Capital LLC TRC grew its stake in Model N by 35.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,664 shares of the software maker’s stock valued at $57,000 after purchasing an additional 431 shares during the period. Stephens Inc. AR bought a new position in Model N in the 3rd quarter valued at $69,000. Ensign Peak Advisors Inc grew its stake in Model N by 761.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 2,240 shares of the software maker’s stock valued at $57,000 after purchasing an additional 1,980 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Model N by 94.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,420 shares of the software maker’s stock valued at $82,000 after purchasing an additional 1,174 shares during the period. Institutional investors own 96.63% of the company’s stock.

Model N Company Profile

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Model N, Inc engages in developing and monetizing revenue management solutions. It offers cloud revenue optimization and compliance to pharmaceutical, medical technology, semiconductor, and high-tech companies. Its products provide business processes such as pricing, quoting, contracting, regulatory compliance, rebates and incentives.