Short Interest in Model N Inc (NYSE:MODN) Decreases By 25.1%

Model N Inc (NYSE:MODN) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 861,400 shares, a drop of 25.1% from the January 15th total of 1,150,000 shares. Based on an average trading volume of 283,300 shares, the days-to-cover ratio is presently 3.0 days. Currently, 3.3% of the company’s stock are short sold.

Shares of MODN traded up $0.04 during mid-day trading on Friday, reaching $34.64. 444,551 shares of the company’s stock were exchanged, compared to its average volume of 330,848. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $1.07 billion, a PE ratio of -65.36 and a beta of 0.57. The business’s fifty day simple moving average is $33.38 and its 200-day simple moving average is $29.90. Model N has a 52-week low of $16.13 and a 52-week high of $35.84.

Model N (NYSE:MODN) last announced its earnings results on Tuesday, February 4th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.23. The business had revenue of $38.40 million for the quarter, compared to analyst estimates of $37.26 million. Model N had a negative net margin of 12.15% and a negative return on equity of 25.25%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. Equities research analysts predict that Model N will post -0.37 earnings per share for the current year.

In other Model N news, SVP Laura Selig sold 3,459 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $31.62, for a total transaction of $109,373.58. Following the sale, the senior vice president now owns 33,810 shares of the company’s stock, valued at $1,069,072.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason Blessing sold 16,703 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $31.26, for a total transaction of $522,135.78. Following the sale, the chief executive officer now directly owns 353,961 shares in the company, valued at approximately $11,064,820.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,062 shares of company stock worth $927,086. 1.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in shares of Model N by 23.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,109,144 shares of the software maker’s stock worth $73,968,000 after acquiring an additional 395,544 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Model N by 20.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,517,006 shares of the software maker’s stock valued at $29,581,000 after acquiring an additional 255,281 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of Model N during the 4th quarter valued at approximately $41,105,000. State Street Corp raised its position in shares of Model N by 3.5% during the 4th quarter. State Street Corp now owns 752,620 shares of the software maker’s stock valued at $26,394,000 after acquiring an additional 25,728 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in shares of Model N by 65.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 538,121 shares of the software maker’s stock valued at $18,872,000 after acquiring an additional 213,089 shares in the last quarter. Institutional investors and hedge funds own 82.22% of the company’s stock.

A number of analysts have weighed in on MODN shares. Needham & Company LLC raised their price objective on shares of Model N from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised shares of Model N from a “neutral” rating to an “overweight” rating and set a $36.00 price objective on the stock in a report on Thursday, December 12th. They noted that the move was a valuation call. Finally, Oppenheimer raised their price objective on shares of Model N from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Model N presently has an average rating of “Buy” and a consensus target price of $31.43.

Model N Company Profile

Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.

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