Morgan Stanley Trims Model N (NYSE:MODN) Target Price to $37.00

Model N (NYSE:MODN) had its target price dropped by equities researchers at Morgan Stanley from $40.00 to $37.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Morgan Stanley’s price objective suggests a potential upside of 58.66% from the company’s current price.

Several other equities analysts have also recently commented on the stock. Royal Bank of Canada reduced 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 research report on Friday, November 10th. StockNews.com cut shares of Model N from a “buy” rating to a “hold” rating in a report on Sunday. Truist Financial dropped their price objective on shares of Model N from $52.00 to $40.00 in a research note on Wednesday, August 9th. The Goldman Sachs Group dropped their price target on Model N from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $44.00 target price on shares of Model N in a research report on Tuesday, September 5th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Model N Stock Down 1.9 %

Shares of Model N stock traded down $0.45 during trading hours on Wednesday, hitting $23.32. 13,280 shares of the company’s stock traded hands, compared to its average volume of 323,650. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 2.70. Model N has a twelve month low of $20.90 and a twelve month high of $43.18. The stock has a 50 day simple moving average of $24.53 and a 200-day simple moving average of $29.03. The company has a market cap of $896.42 million, a PE ratio of -26.27 and a beta of 0.76.

Insider Buying and Selling at Model N

In related news, Director Manisha Shetty Gulati sold 944 shares of the firm’s stock in a transaction that occurred 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 $252,119.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Manisha Shetty Gulati sold 944 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $26.91, for a total value of $25,403.04. Following the completion of the sale, the director now owns 9,369 shares in the company, valued at $252,119.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Albert Anderson sold 6,650 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,495,934.61. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Model N

A number of institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. grew its holdings in shares of 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 valued at $1,203,000 after buying an additional 275 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Model N by 0.9% in 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 in the last quarter. Arizona State Retirement System boosted its holdings in shares of Model N by 3.4% during the second quarter. Arizona State Retirement System now owns 10,069 shares of the software maker’s stock worth $356,000 after purchasing an additional 327 shares during the period. Fifth Third Bancorp grew its position in Model N by 12.1% during the second quarter. Fifth Third Bancorp now owns 3,514 shares of the software maker’s stock valued at $124,000 after purchasing an additional 378 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Model N by 6.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,447 shares of the software maker’s stock worth $261,000 after buying an additional 383 shares in the last quarter.

About Model N

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.