Model N’s (MODN) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities restated their market perform rating on shares of Model N (NYSE:MODN) in a report published on Monday, Benzinga reports.

A number of other analysts have also issued reports on MODN. Robert W. Baird reissued a neutral rating and set a $30.00 target price on shares of Model N in a research note on Monday, April 8th. Needham & Company LLC restated a hold rating on shares of Model N in a research note on Monday, April 22nd. StockNews.com began coverage on shares of Model N in a research note on Saturday, May 4th. They set a hold rating for the company. Craig Hallum reissued a hold rating and issued a $30.00 price objective on shares of Model N in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $30.00 target price on shares of Model N in a research report on Tuesday, April 9th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $31.80.

Model N Stock Down 0.0 %

Shares of NYSE MODN opened at $29.76 on Monday. Model N has a 1 year low of $20.90 and a 1 year high of $35.96. The firm has a 50-day simple moving average of $27.78 and a two-hundred day simple moving average of $26.23. The company has a market cap of $1.16 billion, a P/E ratio of -35.43 and a beta of 0.68. The company has a debt-to-equity ratio of 2.26, a current ratio of 4.00 and a quick ratio of 4.00.

Model N (NYSE:MODN) last issued its quarterly earnings results on Monday, May 6th. The software maker reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $65.10 million for the quarter, compared to the consensus estimate of $64.45 million. During the same period in the prior year, the business posted ($0.05) earnings per share. Model N’s revenue was up 4.3% on a year-over-year basis. Research analysts anticipate that Model N will post 0.2 earnings per share for the current year.

Insider Activity

In related news, Director Dave Yarnold sold 5,000 shares of the firm’s 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 sale, the director now owns 22,012 shares of the company’s stock, valued at $591,682.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Laura Selig sold 4,770 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 transaction of $125,832.60. Following the transaction, the insider now directly owns 143,866 shares of the company’s stock, valued at $3,795,185.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dave Yarnold sold 5,000 shares of the firm’s stock in a transaction 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 sale, 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. In the last three months, insiders have sold 72,616 shares of company stock worth $1,897,243. 2.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. increased its holdings in shares of Model N by 2.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 13,865 shares of the software maker’s stock valued at $395,000 after acquiring an additional 355 shares in the last quarter. Lmcg Investments LLC increased its stake in Model N by 2.1% during the 3rd quarter. Lmcg Investments LLC now owns 40,660 shares of the software maker’s stock valued at $993,000 after purchasing an additional 830 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Model N by 14.7% during 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 during the period. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Model N during the third quarter worth $34,000.

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.