Model N (NYSE:MODN) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Model N (NYSE:MODN) from a buy rating to a hold rating in a research note released on Sunday.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Model N from $35.00 to $30.00 and set a sector perform rating on the stock in a report on Friday, November 10th. BTIG Research lowered shares of Model N from a buy rating to a neutral rating in a report on Friday, November 10th. Robert W. Baird reduced their target price on shares of Model N from $40.00 to $35.00 in a report on Wednesday, August 9th. Needham & Company LLC reduced their target price on shares of Model N from $37.00 to $31.00 and set a buy rating on the stock in a report on Friday, November 10th. Finally, JMP Securities reissued a market outperform rating and set a $44.00 target price on shares of Model N in a report on Tuesday, September 5th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $37.30.

Model N Trading Up 8.0 %

Shares of Model N stock opened at $23.77 on Friday. The firm has a market capitalization of $913.72 million, a PE ratio of -26.41 and a beta of 0.76. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 2.70. The firm’s 50 day moving average is $24.59 and its 200 day moving average is $29.08. Model N has a 1 year low of $20.90 and a 1 year high of $43.18.

Insider Activity

In related news, insider Mark Albert Anderson sold 6,650 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $23.83, for a total transaction of $158,469.50. Following the transaction, the insider now owns 188,667 shares in the company, valued at approximately $4,495,934.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Mark Albert Anderson sold 6,650 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $23.83, for a total transaction of $158,469.50. Following the transaction, the insider now owns 188,667 shares in the company, valued at approximately $4,495,934.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Manisha Shetty Gulati sold 944 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $26.91, for a total transaction of $25,403.04. Following the transaction, the director now owns 9,369 shares in the company, valued at approximately $252,119.79. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Quadrature Capital Ltd raised its holdings in Model N by 46.9% during the third quarter. Quadrature Capital Ltd now owns 16,349 shares of the software maker’s stock worth $399,000 after buying an additional 5,218 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Model N during the third quarter worth $889,000. Synovus Financial Corp raised its holdings in Model N by 17.2% during the third quarter. Synovus Financial Corp now owns 18,552 shares of the software maker’s stock worth $453,000 after buying an additional 2,726 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Model N during the third quarter worth $34,000. Finally, Nicholas Company Inc. raised its holdings in Model N by 13.4% during the third quarter. Nicholas Company Inc. now owns 283,914 shares of the software maker’s stock worth $6,930,000 after buying an additional 33,650 shares during the last quarter.

Model N Company Profile

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies. 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.