Model N (NYSE:MODN) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Model N (NYSE:MODN) in a report released on Tuesday morning. The brokerage issued a hold rating on the software maker’s stock.

MODN has been the subject of several other research reports. Craig Hallum reiterated a hold rating and set a $30.00 target price on shares of Model N in a research report on Tuesday, April 9th. JMP Securities reiterated a market perform rating on shares of Model N in a research report on Monday, May 6th. Robert W. Baird reiterated a neutral rating and set a $30.00 target price on shares of Model N in a research report on Monday, April 8th. Morgan Stanley reiterated an equal weight rating and set a $30.00 target price (down previously from $37.00) on shares of Model N in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reiterated a hold rating on shares of Model N in a research report on Tuesday, May 7th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $31.80.

Model N Price Performance

NYSE:MODN opened at $30.00 on Tuesday. The stock’s fifty day moving average price is $29.94 and its two-hundred day moving average price is $28.39. Model N has a 52-week low of $20.90 and a 52-week high of $35.96. The company has a debt-to-equity ratio of 2.05, a quick ratio of 3.86 and a current ratio of 3.86. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -3,000,000.00 and a beta of 0.68.

Model N (NYSE:MODN) last posted its quarterly earnings data 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 return on equity of 6.94% and a net margin of 0.10%. The firm had revenue of $65.10 million for the quarter, compared to analyst estimates of $64.45 million. During the same period in the prior year, the company posted ($0.05) EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts anticipate that Model N will post 0.18 EPS for the current year.

Insiders Place Their Bets

In other Model N news, CRO Christopher Lyon sold 6,753 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $29.84, for a total transaction of $201,509.52. Following the completion of the transaction, the executive now owns 214,182 shares in the company, valued at approximately $6,391,190.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Jason Blessing sold 20,179 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $29.79, for a total transaction of $601,132.41. Following the completion of the transaction, the chief executive officer now directly owns 884,172 shares in the company, valued at approximately $26,339,483.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Christopher Lyon sold 6,753 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $29.84, for a total transaction of $201,509.52. Following the transaction, the executive now owns 214,182 shares of the company’s stock, valued at $6,391,190.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,870 shares of company stock worth $1,545,545. Corporate insiders own 2.55% of the company’s stock.

Hedge Funds Weigh In On Model N

A number of large investors have recently modified their holdings of MODN. Oppenheimer Asset Management Inc. lifted its stake in Model N by 2.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,865 shares of the software maker’s stock valued at $395,000 after purchasing an additional 355 shares during the last quarter. Gagnon Securities LLC lifted its stake in Model N by 8.7% in the 1st quarter. Gagnon Securities LLC now owns 8,425 shares of the software maker’s stock valued at $240,000 after purchasing an additional 677 shares during the last quarter. EntryPoint Capital LLC lifted its stake in Model N by 24.8% in the 1st quarter. EntryPoint Capital LLC now owns 3,723 shares of the software maker’s stock valued at $106,000 after purchasing an additional 741 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Model N by 6.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,130 shares of the software maker’s stock valued at $461,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Model N by 14.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,235 shares of the software maker’s stock valued at $249,000 after purchasing 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.