Model N (MODN) Sees Unusually-High Trading Volume

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Model N Inc (NYSE:MODN) shares saw unusually-strong trading volume on Thursday . Approximately 808,672 shares changed hands during mid-day trading, an increase of 323% from the previous session’s volume of 191,369 shares.The stock last traded at $17.59 and had previously closed at $17.34.

Several analysts recently commented on MODN shares. ValuEngine cut shares of Model N from a “buy” rating to a “hold” rating in a research note on Saturday, January 5th. Zacks Investment Research upgraded shares of Model N from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Monday, February 4th. Finally, National Securities restated a “buy” rating and set a $23.00 target price on shares of Model N in a research report on Tuesday, February 19th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Model N presently has a consensus rating of “Buy” and an average price target of $21.88.

The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $546.90 million, a PE ratio of -24.10 and a beta of 0.59.

Model N (NYSE:MODN) last announced its earnings results on Tuesday, February 5th. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.15. The company had revenue of $35.08 million during the quarter, compared to analysts’ expectations of $34.21 million. Model N had a negative net margin of 18.37% and a negative return on equity of 51.86%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) earnings per share. On average, research analysts forecast that Model N Inc will post -0.51 earnings per share for the current fiscal year.

In other news, SVP Neeraj Gokhale sold 7,725 shares of Model N stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $17.06, for a total transaction of $131,788.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason Blessing sold 1,733 shares of Model N stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $16.50, for a total transaction of $28,594.50. Following the sale, the chief executive officer now owns 374,504 shares of the company’s stock, valued at $6,179,316. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,276 shares of company stock valued at $599,846. 1.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MODN. American Century Companies Inc. lifted its position in shares of Model N by 2.4% during the fourth quarter. American Century Companies Inc. now owns 344,224 shares of the software maker’s stock worth $4,554,000 after purchasing an additional 8,145 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Model N by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 296,353 shares of the software maker’s stock worth $3,920,000 after buying an additional 30,155 shares during the period. Segall Bryant & Hamill LLC grew its position in shares of Model N by 9.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 207,449 shares of the software maker’s stock worth $2,745,000 after buying an additional 17,324 shares during the period. Metropolitan Life Insurance Co. NY grew its position in shares of Model N by 410.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,045 shares of the software maker’s stock worth $106,000 after buying an additional 6,470 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in shares of Model N by 34.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 541,450 shares of the software maker’s stock worth $7,163,000 after buying an additional 140,020 shares during the period. Institutional investors and hedge funds own 72.84% of the company’s stock.

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About Model N (NYSE:MODN)

Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.

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