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

Model N (NYSE:MODN – Get Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

MODN has been the subject of several other research reports. Needham & Company LLC boosted their price target on Model N from $42.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Robert W. Baird upped their price objective on Model N to $44.00 in a research note on Wednesday, December 14th. BTIG Research upped their price objective on Model N from $42.00 to $48.00 in a research note on Wednesday, February 8th. Finally, Truist Financial upped their price objective on Model N from $45.00 to $52.00 in a research note on Wednesday, February 8th.

Model N Stock Performance

Shares of MODN opened at $31.45 on Monday. The business has a fifty day moving average of $37.65 and a 200 day moving average of $36.52. Model N has a one year low of $20.95 and a one year high of $43.18. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.85 and a quick ratio of 2.85. The firm has a market capitalization of $1.19 billion, a P/E ratio of -43.68 and a beta of 0.68.

Model N (NYSE:MODN – Get Rating) last released 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 company had revenue of $59.15 million for the quarter, compared to the consensus estimate of $57.51 million. As a group, sell-side analysts anticipate that Model N will post 0.02 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jason Blessing sold 20,304 shares of the business’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $35.04, for a total value of $711,452.16. Following the sale, the chief executive officer now directly owns 695,506 shares in the company, valued at $24,370,530.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jason Blessing sold 20,304 shares of the business’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $35.04, for a total value of $711,452.16. Following the sale, the chief executive officer now directly owns 695,506 shares in the company, valued at $24,370,530.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Christopher Lyon sold 6,556 shares of the business’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $35.04, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 48,376 shares of company stock worth $1,728,153. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Model N

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Investment Advisors purchased a new stake in Model N during the fourth quarter valued at approximately $293,000. Alliancebernstein L.P. raised its position in Model N by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 41,961 shares of the software maker’s stock valued at $1,702,000 after purchasing an additional 1,161 shares during the period. Altshuler Shaham Ltd raised its position in Model N by 79.2% during the fourth quarter. Altshuler Shaham Ltd now owns 1,572 shares of the software maker’s stock valued at $64,000 after purchasing an additional 695 shares during the period. Jane Street Group LLC purchased a new stake in Model N during the fourth quarter valued at approximately $799,000. Finally, Susquehanna Fundamental Investments LLC raised its position in Model N by 39.5% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 43,464 shares of the software maker’s stock valued at $1,763,000 after purchasing an additional 12,313 shares during the period. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

About Model N

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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.