Model N (NYSE:MODN) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Model N (NYSE:MODN) in a research note issued on Saturday. The firm set a “hold” rating on the software maker’s stock.

Other analysts have also issued research reports about the company. Craig Hallum reaffirmed a “hold” rating and set a $30.00 price objective on shares of Model N in a research report on Tuesday, April 9th. Robert W. Baird reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Model N in a research report on Monday, April 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $30.00 price target (down previously 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 report on Tuesday, April 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Model N in a research report on Monday, April 22nd. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Model N has an average rating of “Hold” and an average target price of $31.80.

Model N Stock Performance

NYSE:MODN opened at $29.81 on Friday. The company’s 50-day moving average is $27.49 and its two-hundred day moving average is $26.11. The company has a debt-to-equity ratio of 2.26, a current ratio of 4.00 and a quick ratio of 4.00. Model N has a 1-year low of $20.90 and a 1-year high of $35.96. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -35.49 and a beta of 0.68.

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 analysts’ consensus estimates 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 firm had revenue of $63.49 million during the quarter, compared to analysts’ expectations of $62.12 million. Analysts forecast that Model N will post 0.2 EPS for the current year.

Insider Transactions at Model N

In other news, Director Dave Yarnold sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $26.88, for a total transaction of $134,400.00. Following the sale, the director now owns 22,012 shares of the company’s stock, valued at approximately $591,682.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Dave Yarnold sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $26.88, for a total transaction of $134,400.00. Following the transaction, the director now owns 22,012 shares in the company, valued at approximately $591,682.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Laura Selig sold 2,655 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $25.32, for a total value of $67,224.60. Following the transaction, the insider now owns 141,517 shares in the company, valued at approximately $3,583,210.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,616 shares of company stock valued at $1,897,243. Corporate insiders own 2.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Lmcg Investments LLC increased its position in Model N by 2.1% in the 3rd quarter. Lmcg Investments LLC now owns 40,660 shares of the software maker’s stock valued at $993,000 after acquiring an additional 830 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Model N by 6.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,130 shares of the software maker’s stock valued at $461,000 after purchasing an additional 1,043 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Model N by 14.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,235 shares of the software maker’s stock worth $249,000 after purchasing an additional 1,181 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Model N during the third quarter worth $34,000. Finally, Renaissance Group LLC grew its position in Model N by 2.9% in the 3rd quarter. Renaissance Group LLC now owns 51,792 shares of the software maker’s stock valued at $1,264,000 after buying an additional 1,483 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.