Model N (NYSE:MODN) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Model N (NYSE:MODNGet Rating) from a hold rating to a buy rating in a report issued on Monday.

Other equities research analysts have also recently issued reports about the stock. BTIG Research decreased their price objective on shares of Model N from $48.00 to $38.00 in a report on Wednesday, May 11th. Needham & Company LLC reiterated a buy rating and issued a $34.00 price objective on shares of Model N in a report on Friday, March 25th. TheStreet cut shares of Model N from a c- rating to a d+ rating in a report on Thursday, February 3rd. Finally, Craig Hallum decreased their price objective on shares of Model N from $39.00 to $29.00 in a report on Wednesday, May 11th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Model N currently has a consensus rating of Buy and an average price target of $36.80.

Model N stock opened at $23.25 on Monday. The company’s fifty day simple moving average is $25.79 and its 200-day simple moving average is $27.46. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.68 and a current ratio of 2.68. Model N has a 12 month low of $22.18 and a 12 month high of $39.99.

Model N (NYSE:MODNGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.07. The firm had revenue of $53.30 million during the quarter, compared to analysts’ expectations of $51.23 million. Model N had a negative net margin of 13.60% and a negative return on equity of 7.58%. Model N’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) earnings per share. On average, analysts forecast that Model N will post -0.32 EPS for the current year.

In other news, insider Laura Selig sold 1,749 shares of the company’s stock in a transaction dated Friday, February 18th. The shares were sold at an average price of $25.04, for a total transaction of $43,794.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Albert Anderson sold 5,962 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $22.76, for a total transaction of $135,695.12. Following the transaction, the insider now directly owns 183,745 shares of the company’s stock, valued at approximately $4,182,036.20. The disclosure for this sale can be found here. Insiders have sold 26,524 shares of company stock valued at $655,889 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Byrne Asset Management LLC raised its position in shares of Model N by 76.7% during the first quarter. Byrne Asset Management LLC now owns 961 shares of the software maker’s stock valued at $26,000 after buying an additional 417 shares during the last quarter. Allworth Financial LP acquired a new position in Model N in the first quarter worth about $27,000. Nisa Investment Advisors LLC acquired a new position in Model N in the first quarter worth about $54,000. Fifth Third Bancorp raised its position in Model N by 23.1% in the fourth quarter. Fifth Third Bancorp now owns 4,006 shares of the software maker’s stock worth $120,000 after purchasing an additional 753 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Model N by 13.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,080 shares of the software maker’s stock worth $136,000 after purchasing an additional 588 shares in the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

Model N Company Profile (Get Rating)

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies. 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 timely, as well as at correct rates for government medicaid programs.

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