Model N (NYSE:MODN) Stock Rating Reaffirmed by JMP Securities

Model N (NYSE:MODN)‘s stock had its “market perform” rating reaffirmed by equities researchers at JMP Securities in a report released on Tuesday, Benzinga reports.

Several other analysts have also issued reports on MODN. Needham & Company LLC restated a “hold” rating on shares of Model N in a research report on Monday. Morgan Stanley restated an “equal weight” rating and set a $30.00 price target (down from $37.00) on shares of Model N in a research report on Wednesday, April 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $30.00 price target on shares of Model N in a research note on Tuesday, April 9th. Robert W. Baird reissued a “neutral” rating and set a $30.00 price objective on shares of Model N in a research note on Monday, April 8th. Finally, StockNews.com initiated coverage on shares of Model N in a research note on Thursday, April 18th. They issued a “hold” rating on the stock. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.80.

Model N Price Performance

Shares of NYSE:MODN opened at $29.65 on Tuesday. The stock has a market cap of $1.16 billion, a P/E ratio of -35.30 and a beta of 0.70. Model N has a 12 month low of $20.90 and a 12 month high of $35.96. The company has a 50 day moving average of $26.92 and a 200 day moving average of $25.80. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 2.26.

Model N (NYSE:MODN) last announced its earnings results on Tuesday, February 6th. The software maker reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Model N had a negative net margin of 12.48% and a positive return on equity of 5.79%. The company had revenue of $63.49 million for the quarter, compared to the consensus estimate of $62.12 million. As a group, sell-side analysts forecast that Model N will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Model N

In other news, CEO Jason Blessing sold 27,446 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.38, for a total value of $724,025.48. Following the completion of the transaction, the chief executive officer now owns 903,451 shares in the company, valued at approximately $23,833,037.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Jason Blessing sold 27,446 shares of Model N stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.38, for a total transaction of $724,025.48. Following the completion of the transaction, the chief executive officer now directly owns 903,451 shares of the company’s stock, valued at approximately $23,833,037.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John Ederer sold 8,241 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $26.38, for a total transaction of $217,397.58. Following the completion of the sale, the chief financial officer now owns 315,145 shares in the company, valued at approximately $8,313,525.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,616 shares of company stock valued at $1,897,243. 2.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC increased its holdings in shares of Model N by 15.3% during the fourth quarter. Conestoga Capital Advisors LLC now owns 3,824,894 shares of the software maker’s stock valued at $103,004,000 after acquiring an additional 507,090 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Model N by 14.6% during the third quarter. Artisan Partners Limited Partnership now owns 3,310,207 shares of the software maker’s stock valued at $80,802,000 after acquiring an additional 421,952 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Model N by 8.2% in the 4th quarter. Clearbridge Investments LLC now owns 2,718,760 shares of the software maker’s stock worth $73,216,000 after acquiring an additional 206,292 shares during the last quarter. Vanguard Group Inc. lifted its position in Model N by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,644,961 shares of the software maker’s stock valued at $64,563,000 after acquiring an additional 128,461 shares in the last quarter. Finally, Ranger Investment Management L.P. boosted its stake in Model N by 8.2% during the 4th quarter. Ranger Investment Management L.P. now owns 937,846 shares of the software maker’s stock valued at $25,256,000 after purchasing an additional 70,868 shares during the last quarter.

About Model N

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.