Model N, Inc. (NYSE:MODN) CEO Jason Blessing Sells 9,419 Shares of Stock

Model N, Inc. (NYSE:MODN) CEO Jason Blessing sold 9,419 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $22.95, for a total value of $216,166.05. Following the sale, the chief executive officer now owns 664,771 shares in the company, valued at approximately $15,256,494.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Model N Trading Up 2.5 %

NYSE:MODN opened at $23.52 on Friday. The stock’s 50 day moving average price is $24.31 and its 200 day moving average price is $28.90. Model N, Inc. has a 52 week low of $20.90 and a 52 week high of $43.18. The company has a market capitalization of $904.11 million, a P/E ratio of -26.13 and a beta of 0.76. The company has a debt-to-equity ratio of 2.70, a quick ratio of 4.13 and a current ratio of 4.13.

Hedge Funds Weigh In On Model N

Hedge funds have recently added to or reduced their stakes in the company. Lmcg Investments LLC increased its holdings in Model N by 2.2% in the first quarter. Lmcg Investments LLC now owns 22,463 shares of the software maker’s stock worth $752,000 after buying an additional 478 shares during the last quarter. Rational Advisors LLC acquired a new position in Model N in the first quarter worth approximately $1,340,000. EFG Asset Management North America Corp. increased its holdings in Model N by 7.3% in the second quarter. EFG Asset Management North America Corp. now owns 56,853 shares of the software maker’s stock worth $2,010,000 after buying an additional 3,869 shares during the last quarter. Jump Financial LLC acquired a new position in Model N in the first quarter worth approximately $479,000. Finally, ExodusPoint Capital Management LP acquired a new position in Model N in the first quarter worth approximately $3,224,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC cut their price objective on Model N from $37.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, November 10th. Jefferies Financial Group dropped their target price on Model N from $40.00 to $36.00 in a report on Tuesday, August 8th. Royal Bank of Canada dropped their target price on Model N from $35.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, November 10th. Robert W. Baird dropped their target price on Model N from $40.00 to $35.00 in a report on Wednesday, August 9th. Finally, Truist Financial dropped their target price on Model N from $52.00 to $40.00 in a report on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Model N currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

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.