Needham & Company LLC Reiterates Hold Rating for Model N (NYSE:MODN)

Model N (NYSE:MODN)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued on Monday, Benzinga reports.

Other equities analysts have also recently issued reports about the company. Craig Hallum reiterated a “hold” rating and issued a $30.00 price objective on shares of Model N in a report on Tuesday, April 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $30.00 price objective on shares of Model N in a report on Tuesday, April 9th. Robert W. Baird reiterated a “neutral” rating and issued a $30.00 price objective on shares of Model N in a report on Monday, April 8th. JMP Securities reissued a “market perform” rating on shares of Model N in a research note on Tuesday, April 9th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $30.00 target price (down previously from $37.00) on shares of Model N in a research note on Wednesday, April 10th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.80.

Model N Price Performance

Model N stock opened at $29.66 on Monday. Model N has a 52 week low of $20.90 and a 52 week high of $35.96. The business has a 50-day simple moving average of $26.87 and a 200 day simple moving average of $25.77. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 2.26. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -35.31 and a beta of 0.70.

Model N (NYSE:MODN) last posted its quarterly earnings data 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 positive return on equity of 5.79% and a negative net margin of 12.48%. The firm had revenue of $63.49 million during the quarter, compared to analysts’ expectations of $62.12 million. On average, research analysts forecast that Model N will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Model N

In other Model N news, CFO John Ederer sold 8,018 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $25.31, for a total transaction of $202,935.58. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO John Ederer sold 8,018 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $25.31, for a total value of $202,935.58. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dave Yarnold sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $26.88, for a total value of $134,400.00. Following the completion of the transaction, the director now directly owns 22,012 shares of the company’s stock, valued at approximately $591,682.56. The disclosure for this sale can be found here. Insiders sold 72,616 shares of company stock valued at $1,897,243 in the last 90 days. Insiders own 2.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. C M Bidwell & Associates Ltd. bought a new position in shares of Model N in the 3rd quarter worth approximately $34,000. International Assets Investment Management LLC grew its stake in shares of Model N by 1,594.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,558 shares of the software maker’s stock worth $69,000 after buying an additional 2,407 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Model N in the 4th quarter worth approximately $115,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Model N by 27.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,054 shares of the software maker’s stock worth $197,000 after buying an additional 1,743 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Model N by 14.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,235 shares of the software maker’s stock worth $249,000 after buying an additional 1,181 shares during the last quarter.

Model N Company Profile

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.