JMP Securities Lowers Model N (NYSE:MODN) to Market Perform

Model N (NYSE:MODNGet Free Report) was downgraded by investment analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, FinViz reports.

MODN has been the subject of a number of other reports. JPMorgan Chase & Co. cut shares of Model N from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $30.00 to $25.00 in a report on Wednesday, December 13th. StockNews.com cut shares of Model N from a “buy” rating to a “hold” rating in a report on Sunday, November 12th. The Goldman Sachs Group decreased their price target on shares of Model N from $42.00 to $36.00 and set a “buy” rating for the company in a report on Friday, November 10th. Morgan Stanley decreased their price target on shares of Model N from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, November 15th. Finally, Royal Bank of Canada reduced their target price on shares of Model N from $35.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, November 10th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Model N has an average rating of “Hold” and an average target price of $34.64.

Get Our Latest Stock Analysis on Model N

Model N Trading Down 1.4 %

Shares of NYSE:MODN opened at $26.94 on Wednesday. The stock has a market capitalization of $1.05 billion, a PE ratio of -29.93 and a beta of 0.74. Model N has a 1 year low of $20.90 and a 1 year high of $41.40. The firm has a fifty day moving average price of $25.98 and a 200 day moving average price of $26.13. The company has a current ratio of 4.11, a quick ratio of 4.11 and a debt-to-equity ratio of 2.43.

Model N (NYSE:MODNGet Free Report) last issued its quarterly earnings data on Thursday, November 9th. The software maker reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. Model N had a negative net margin of 13.60% and a positive return on equity of 3.98%. The firm had revenue of $63.97 million during the quarter, compared to analysts’ expectations of $62.17 million. Analysts expect that Model N will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Mark Albert Anderson sold 2,350 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $24.98, for a total value of $58,703.00. Following the completion of the transaction, the insider now owns 278,072 shares of the company’s stock, valued at $6,946,238.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO John Ederer sold 4,482 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $22.95, for a total transaction of $102,861.90. Following the completion of the sale, the chief financial officer now owns 154,719 shares of the company’s stock, valued at $3,550,801.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark Albert Anderson sold 2,350 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $24.98, for a total transaction of $58,703.00. Following the sale, the insider now directly owns 278,072 shares of the company’s stock, valued at approximately $6,946,238.56. The disclosure for this sale can be found here. Insiders sold 45,224 shares of company stock valued at $1,051,499 over the last quarter. Corporate insiders own 2.55% of the company’s stock.

Institutional Trading of Model N

Several hedge funds have recently modified their holdings of MODN. Raymond James & Associates grew its stake in shares of Model N by 28.2% during the first quarter. Raymond James & Associates now owns 30,345 shares of the software maker’s stock valued at $816,000 after purchasing an additional 6,676 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Model N by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 138,478 shares of the software maker’s stock valued at $3,725,000 after purchasing an additional 2,363 shares during the last quarter. US Bancorp DE grew its stake in shares of Model N by 46.6% during the first quarter. US Bancorp DE now owns 19,375 shares of the software maker’s stock valued at $521,000 after purchasing an additional 6,156 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Model N by 13.1% during the first quarter. PNC Financial Services Group Inc. now owns 5,080 shares of the software maker’s stock valued at $136,000 after purchasing an additional 588 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Model N by 61.2% during the first quarter. MetLife Investment Management LLC now owns 18,585 shares of the software maker’s stock valued at $500,000 after purchasing an additional 7,054 shares during the last quarter.

About Model N

(Get Free Report)

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies in the United States and internationally. 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.

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