Model N (NYSE:MODN) Rating Reiterated by Needham & Company LLC

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

Several other research firms have also weighed in on MODN. Morgan Stanley reiterated an “equal weight” rating and issued a $30.00 price objective (down previously from $37.00) on shares of Model N in a research note on Wednesday, April 10th. JMP Securities reiterated a “market perform” rating on shares of Model N in a report on Monday. Craig Hallum restated a “hold” rating and set 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 target price on shares of Model N in a report on Monday, April 8th. Finally, StockNews.com started coverage on shares of Model N in a research note on Saturday, May 4th. They set a “hold” rating for the company. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Model N has an average rating of “Hold” and an average target price of $31.80.

Model N Price Performance

Shares of NYSE:MODN opened at $29.76 on Tuesday. The firm’s fifty day moving average is $27.78 and its 200-day moving average is $26.23. Model N has a 52 week low of $20.90 and a 52 week high of $35.96. The firm has a market cap of $1.16 billion, a PE ratio of -35.43 and a beta of 0.68. The company has a debt-to-equity ratio of 2.26, a quick ratio of 4.00 and a current ratio of 4.00.

Model N (NYSE:MODN) last released its quarterly earnings results on Monday, May 6th. The software maker reported $0.24 earnings per share (EPS) 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 the consensus estimate of $64.45 million. During the same quarter in the previous year, the business posted ($0.05) EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts predict that Model N will post 0.2 earnings per share for the current year.

Insider Transactions at Model N

In related news, CRO Christopher Lyon sold 8,124 shares of the stock in a transaction dated 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 owns 229,721 shares in the company, valued at $5,802,752.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Model N news, CRO Christopher Lyon sold 8,124 shares of the stock in a transaction dated 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 owns 229,721 shares in the company, valued at $5,802,752.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dave Yarnold sold 5,000 shares of the 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 transaction, the director now 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 a total of 72,616 shares of company stock worth $1,897,243 in the last quarter. 2.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Model N

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MODN. Oppenheimer Asset Management Inc. lifted its holdings in shares of Model N by 2.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 13,865 shares of the software maker’s stock worth $395,000 after buying an additional 355 shares in the last quarter. Lmcg Investments LLC lifted its holdings in shares of Model N by 2.1% in the third quarter. Lmcg Investments LLC now owns 40,660 shares of the software maker’s stock worth $993,000 after buying an additional 830 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted 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 worth $461,000 after buying an additional 1,043 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Model N by 14.7% in the fourth 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 in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Model N in the third quarter valued at approximately $34,000.

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.