Model N’s (MODN) “Hold” Rating Reiterated at Needham & Company LLC

Model N (NYSE:MODN)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports.

Several other brokerages also recently weighed in on MODN. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $30.00 target price 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 research note on Monday. Craig Hallum reiterated a “hold” rating and issued a $30.00 price objective on shares of Model N in a research note on Tuesday, April 9th. Robert W. Baird reiterated a “neutral” rating and issued a $30.00 price objective on shares of Model N in a research note on Monday, April 8th. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.80.

Model N Stock Down 0.0 %

Shares of NYSE:MODN opened at $29.76 on Tuesday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -35.43 and a beta of 0.68. The firm’s 50-day simple moving average is $27.78 and its 200-day simple moving average is $26.23. 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 has a fifty-two week low of $20.90 and a fifty-two week high of $35.96.

Model N (NYSE:MODN) last issued its earnings results on Monday, May 6th. The software maker reported $0.24 earnings per share for the quarter, missing the consensus estimate 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 negative net margin of 12.48% and a positive return on equity of 5.79%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. As a group, equities research analysts predict that Model N will post 0.2 earnings per share for the current year.

Insider Activity at Model N

In related news, CRO Christopher Lyon sold 8,124 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $25.26, for a total value of $205,212.24. Following the completion of the sale, the executive now directly owns 229,721 shares in the company, valued at $5,802,752.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CRO Christopher Lyon sold 8,124 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $25.26, for a total value of $205,212.24. Following the completion of the sale, the executive now directly owns 229,721 shares in the company, valued at $5,802,752.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO John Ederer sold 8,018 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $25.31, for a total transaction of $202,935.58. Following the sale, the chief financial officer now owns 307,127 shares of the company’s stock, valued at $7,773,384.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,616 shares of company stock worth $1,897,243. 2.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Model N

Several institutional investors have recently bought and sold shares of the business. C M Bidwell & Associates Ltd. purchased a new position in shares of Model N in the third quarter valued at $34,000. International Assets Investment Management LLC raised its holdings in Model N by 1,594.0% in the fourth quarter. International Assets Investment Management LLC now owns 2,558 shares of the software maker’s stock valued at $69,000 after acquiring an additional 2,407 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Model N in the fourth quarter valued at $115,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Model N by 27.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,054 shares of the software maker’s stock valued at $197,000 after acquiring an additional 1,743 shares in the last quarter. Finally, Hardy Reed LLC acquired a new stake in Model N in the first quarter valued at $219,000.

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.