Model N, Inc. (NYSE:MODN) Shares Sold by Raymond James & Associates

Raymond James & Associates decreased its position in Model N, Inc. (NYSE:MODN) by 22.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,119 shares of the software maker’s stock after selling 8,602 shares during the quarter. Raymond James & Associates owned 0.07% of Model N worth $784,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. purchased a new position in shares of Model N in the 3rd quarter valued at about $34,000. SG Americas Securities LLC acquired a new stake in Model N during the fourth quarter worth approximately $115,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Model N by 27.6% during 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. Aigen Investment Management LP boosted its holdings in shares of Model N by 23.3% in the 3rd quarter. Aigen Investment Management LP now owns 9,394 shares of the software maker’s stock valued at $229,000 after buying an additional 1,778 shares in the last quarter. Finally, CenterBook Partners LP grew its position in shares of Model N by 24.3% in the 3rd quarter. CenterBook Partners LP now owns 10,129 shares of the software maker’s stock valued at $247,000 after buying an additional 1,979 shares during the last quarter.

Model N Stock Up 0.3 %

Shares of NYSE:MODN opened at $29.66 on Wednesday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -35.31 and a beta of 0.70. Model N, Inc. has a fifty-two week low of $20.90 and a fifty-two week high of $35.96. The firm’s 50-day simple moving average is $26.87 and its 200-day simple moving average is $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.

Model N (NYSE:MODN) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $63.49 million during the quarter, compared to analysts’ expectations of $62.12 million. As a group, equities research analysts predict that Model N, Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In other Model N news, CEO Jason Blessing sold 27,446 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.38, for a total value of $724,025.48. Following the sale, the chief executive officer now owns 903,451 shares of the company’s stock, valued at $23,833,037.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Model N news, CEO Jason Blessing sold 27,446 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.38, for a total value of $724,025.48. Following the sale, the chief executive officer now owns 903,451 shares of the company’s stock, valued at $23,833,037.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dave Yarnold sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 22,012 shares of the company’s stock, valued at $591,682.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,616 shares of company stock valued at $1,897,243. 2.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MODN shares. JMP Securities reissued a “market perform” rating on shares of Model N in a research report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 target price on shares of Model N in a report on Tuesday, April 9th. Robert W. Baird restated a “neutral” rating and set a $30.00 price target on shares of Model N in a research note on Monday, April 8th. 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. Finally, StockNews.com initiated coverage on shares of Model N in a research report on Thursday, April 18th. They set a “hold” rating on the stock. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.80.

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.