Insider Selling: Model N, Inc. (NYSE:MODN) Insider Sells 5,844 Shares of Stock

Model N, Inc. (NYSE:MODNGet Rating) insider Suresh Kannan sold 5,844 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $28.63, for a total transaction of $167,313.72. Following the sale, the insider now directly owns 167,214 shares of the company’s stock, valued at $4,787,336.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Model N Trading Down 0.5 %

Model N stock opened at $29.14 on Friday. Model N, Inc. has a twelve month low of $20.95 and a twelve month high of $43.18. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 3.03. The company has a 50 day moving average of $31.94 and a 200-day moving average of $36.12.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. boosted its holdings in Model N by 0.8% during the third quarter. UBS Asset Management Americas Inc. now owns 35,137 shares of the software maker’s stock worth $1,203,000 after purchasing an additional 275 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Model N by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 37,018 shares of the software maker’s stock worth $947,000 after purchasing an additional 322 shares during the last quarter. Arizona State Retirement System boosted its holdings in Model N by 3.6% during the first quarter. Arizona State Retirement System now owns 9,742 shares of the software maker’s stock worth $326,000 after purchasing an additional 336 shares during the last quarter. Synovus Financial Corp boosted its holdings in Model N by 1.4% during the fourth quarter. Synovus Financial Corp now owns 25,121 shares of the software maker’s stock worth $1,019,000 after purchasing an additional 345 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Model N by 8.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,580 shares of the software maker’s stock worth $186,000 after purchasing an additional 363 shares during the last quarter. Institutional investors and hedge funds own 96.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MODN. Robert W. Baird dropped their price target on shares of Model N from $45.00 to $40.00 in a research note on Wednesday, May 10th. Morgan Stanley began coverage on shares of Model N in a research note on Monday, March 27th. They set an “overweight” rating and a $43.00 price target for the company. Craig Hallum dropped their price target on shares of Model N from $45.00 to $38.00 in a research note on Wednesday, May 10th. StockNews.com assumed coverage on shares of Model N in a research note on Thursday. They issued a “hold” rating for the company. Finally, Royal Bank of Canada assumed coverage on shares of Model N in a research note on Thursday, April 27th. They issued a “sector perform” rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.38.

Model N Company Profile

(Get Rating)

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.

Further Reading

Insider Buying and Selling by Quarter for Model N (NYSE:MODN)

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