Model N (NYSE:MODN) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Model N (NYSE:MODN) in a research report sent to investors on Saturday. The firm issued a hold rating on the software maker’s stock.

Several other research analysts have also weighed in on the stock. Craig Hallum reiterated a hold rating and set a $30.00 price objective on shares of Model N in a report on Tuesday, April 9th. Royal Bank of Canada reiterated a sector perform rating and set a $30.00 price objective on shares of Model N in a report on Tuesday, April 9th. JMP Securities reiterated a market perform rating on shares of Model N in a report on Monday, May 6th. Morgan Stanley reiterated an equal weight rating and set a $30.00 price objective (down from $37.00) on shares of Model N in a report on Wednesday, April 10th. Finally, Needham & Company LLC restated a hold rating on shares of Model N in a report on Tuesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $31.80.

Model N Price Performance

NYSE:MODN opened at $30.00 on Friday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -3,000,000.00 and a beta of 0.68. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 2.05. The company’s 50-day moving average is $29.84 and its two-hundred day moving average is $27.92. Model N has a 12-month low of $20.90 and a 12-month high of $35.96.

Model N (NYSE:MODN) last released its 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). The firm had revenue of $65.10 million during the quarter, compared to analysts’ expectations of $64.45 million. Model N had a net margin of 0.10% and a return on equity of 6.94%. Model N’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) earnings per share. Research analysts expect that Model N will post 0.18 EPS for the current year.

Insider Transactions at Model N

In related news, insider Laura Selig sold 5,411 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $29.79, for a total transaction of $161,193.69. Following the transaction, the insider now directly owns 136,106 shares in the company, valued at $4,054,597.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Model N news, insider Laura Selig sold 5,411 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $29.79, for a total value of $161,193.69. Following the sale, the insider now directly owns 136,106 shares in the company, valued at $4,054,597.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason Blessing sold 20,179 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $29.79, for a total value of $601,132.41. Following the completion of the sale, the chief executive officer now owns 884,172 shares in the company, valued at $26,339,483.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,870 shares of company stock valued at $1,545,545. 2.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Model N

A number of hedge funds have recently added to or reduced their stakes in MODN. Conestoga Capital Advisors LLC raised its stake in shares of Model N by 15.3% during the fourth quarter. Conestoga Capital Advisors LLC now owns 3,824,894 shares of the software maker’s stock valued at $103,004,000 after purchasing an additional 507,090 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Model N during the fourth quarter valued at about $7,964,000. Comerica Bank acquired a new position in Model N during the third quarter worth about $7,185,000. Sea Cliff Partners Management LP acquired a new position in Model N during the fourth quarter worth about $6,078,000. Finally, Bares Capital Management Inc. grew its holdings in Model N by 63.8% during the fourth quarter. Bares Capital Management Inc. now owns 565,000 shares of the software maker’s stock worth $15,215,000 after acquiring an additional 220,000 shares during the period.

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.