Model N (NYSE:MODN) Earns Market Perform Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of Model N (NYSE:MODN) in a research note released on Monday, Benzinga reports.

MODN has been the topic of a number of other reports. Morgan Stanley reiterated an equal weight rating and set a $30.00 price target (down from $37.00) on shares of Model N in a report on Wednesday, April 10th. Royal Bank of Canada reiterated a sector perform rating and set a $30.00 target price on shares of Model N in a research note on Tuesday, April 9th. Robert W. Baird restated a neutral rating and set a $30.00 price target on shares of Model N in a research report on Monday, April 8th. Craig Hallum reaffirmed a hold rating and issued a $30.00 price objective on shares of Model N in a research report on Tuesday, April 9th. Finally, Needham & Company LLC reissued 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 stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $31.80.

Model N Price Performance

MODN opened at $29.76 on Monday. Model N has a 1 year low of $20.90 and a 1 year high of $35.96. The company has a debt-to-equity ratio of 2.26, a current ratio of 4.00 and a quick ratio of 4.00. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -35.43 and a beta of 0.68. The firm’s fifty day moving average price is $27.78 and its two-hundred day moving average price is $26.23.

Model N (NYSE:MODN) last released its quarterly earnings results on Monday, May 6th. The software maker reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). Model N had a positive return on equity of 5.79% and a negative net margin of 12.48%. The firm had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $64.45 million. During the same quarter last year, the firm posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, analysts anticipate that Model N will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at Model N

In related news, CFO John Ederer sold 8,018 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $25.31, for a total transaction of $202,935.58. Following the sale, the chief financial officer now owns 307,127 shares of the company’s stock, valued at approximately $7,773,384.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO John Ederer sold 8,018 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $25.31, for a total transaction of $202,935.58. Following the sale, the chief financial officer now owns 307,127 shares of the company’s stock, valued at approximately $7,773,384.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher Lyon sold 8,124 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $25.26, for a total transaction of $205,212.24. Following the completion of the transaction, the executive now directly owns 229,721 shares of the company’s stock, valued at $5,802,752.46. The disclosure for this sale can be found here. Insiders sold 72,616 shares of company stock valued at $1,897,243 over the last three months. Company insiders own 2.55% of the company’s stock.

Hedge Funds Weigh In On Model N

Institutional investors have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC grew its holdings in shares of Model N by 0.8% during the first quarter. Conestoga Capital Advisors LLC now owns 3,855,355 shares of the software maker’s stock worth $109,762,000 after purchasing an additional 30,461 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Model N by 14.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,310,207 shares of the software maker’s stock worth $80,802,000 after buying an additional 421,952 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of 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 buying an additional 206,292 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Model N by 5.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,644,961 shares of the software maker’s stock valued at $64,563,000 after buying an additional 128,461 shares in the last quarter. Finally, Ranger Investment Management L.P. lifted its holdings in shares of 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 worth $25,256,000 after acquiring 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.