Model N (NYSE:MODN) PT Lowered to $38.00

Model N (NYSE:MODNGet Rating) had its price objective trimmed by BTIG Research from $48.00 to $38.00 in a research note released on Wednesday morning, The Fly reports.

A number of other analysts have also weighed in on MODN. TheStreet lowered shares of Model N from a c- rating to a d+ rating in a report on Thursday, February 3rd. StockNews.com lowered shares of Model N from a buy rating to a hold rating in a report on Friday, April 22nd. Finally, Needham & Company LLC reissued a buy rating and issued a $34.00 price target on shares of Model N in a research note on Friday, March 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $36.80.

Model N stock opened at $24.62 on Wednesday. The company has a current ratio of 2.68, a quick ratio of 2.72 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average of $25.81 and a 200-day moving average of $27.52. Model N has a 1-year low of $22.18 and a 1-year high of $39.99.

Model N (NYSE:MODNGet Rating) last posted its earnings results on Tuesday, May 10th. The software maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. The company had revenue of $53.30 million during the quarter, compared to analyst estimates of $51.23 million. Model N had a negative net margin of 13.60% and a negative return on equity of 7.58%. Model N’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) earnings per share. On average, analysts expect that Model N will post -0.32 earnings per share for the current year.

In other Model N news, insider Mark Albert Anderson sold 5,962 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $22.76, for a total transaction of $135,695.12. Following the completion of the transaction, the insider now owns 183,745 shares of the company’s stock, valued at $4,182,036.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura Selig sold 1,749 shares of the firm’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $25.04, for a total transaction of $43,794.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,524 shares of company stock valued at $655,889. 2.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. HighMark Wealth Management LLC increased its stake in shares of Model N by 80.0% during the fourth quarter. HighMark Wealth Management LLC now owns 36,134 shares of the software maker’s stock valued at $1,085,000 after purchasing an additional 16,061 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Model N by 0.9% during the third quarter. Artisan Partners Limited Partnership now owns 3,302,854 shares of the software maker’s stock valued at $110,646,000 after acquiring an additional 30,888 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Model N by 15.5% during the third quarter. Segall Bryant & Hamill LLC now owns 141,114 shares of the software maker’s stock valued at $4,731,000 after acquiring an additional 18,901 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Model N by 23.1% during the fourth quarter. Fifth Third Bancorp now owns 4,006 shares of the software maker’s stock valued at $120,000 after acquiring an additional 753 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Model N during the fourth quarter valued at approximately $3,242,000. 96.26% of the stock is owned by institutional investors and hedge funds.

Model N Company Profile (Get Rating)

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies. 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 timely, as well as at correct rates for government medicaid programs.

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