Model N (NYSE:MODN) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Model N (NYSE:MODN) in a research report sent to investors on Monday morning, Benzinga reports.

MODN has been the subject of a number of other reports. Morgan Stanley reissued an equal weight rating and set a $30.00 price target (down from $37.00) on shares of Model N in a research report on Wednesday, April 10th. Royal Bank of Canada reissued a sector perform rating and set a $30.00 price target on shares of Model N in a research report on Tuesday, April 9th. StockNews.com started coverage on shares of Model N in a research report on Thursday, April 18th. They set a hold rating for the company. Craig Hallum reaffirmed a hold rating and issued a $30.00 target price on shares of Model N in a report on Tuesday, April 9th. Finally, JMP Securities reaffirmed a market perform rating on shares of Model N in a report on Tuesday, April 9th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $31.80.

Model N Stock Performance

Shares of MODN opened at $29.65 on Monday. The firm’s 50-day moving average price is $26.92 and its 200-day moving average price is $25.80. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -35.30 and a beta of 0.70. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 2.26. Model N has a 1-year low of $20.90 and a 1-year high of $35.96.

Model N (NYSE:MODN) last announced its earnings results on Tuesday, February 6th. The software maker reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Model N had a negative net margin of 12.48% and a positive return on equity of 5.79%. The company had revenue of $63.49 million for the quarter, compared to the consensus estimate of $62.12 million. Sell-side analysts anticipate that Model N will post 0.2 EPS for the current year.

Insider Activity

In other news, insider Laura Selig sold 4,770 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $26.38, for a total transaction of $125,832.60. Following the completion of the transaction, the insider now directly owns 143,866 shares of the company’s stock, valued at $3,795,185.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Dave Yarnold sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $26.88, for a total transaction of $134,400.00. Following the completion of the sale, the director now directly owns 22,012 shares in the company, valued at $591,682.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura Selig sold 4,770 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $26.38, for a total transaction of $125,832.60. Following the sale, the insider now owns 143,866 shares of the company’s stock, valued at $3,795,185.08. The disclosure for this sale can be found here. Insiders sold 72,616 shares of company stock valued at $1,897,243 over the last three months. Insiders own 2.55% of the company’s stock.

Institutional Trading of Model N

Several large investors have recently added to or reduced their stakes in MODN. Conestoga Capital Advisors LLC grew its position in 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 buying an additional 507,090 shares during the period. Artisan Partners Limited Partnership grew its position in Model N by 14.6% during the third quarter. Artisan Partners Limited Partnership now owns 3,310,207 shares of the software maker’s stock valued at $80,802,000 after buying an additional 421,952 shares during the period. Assenagon Asset Management S.A. bought a new stake in Model N during the fourth quarter valued at approximately $7,964,000. Comerica Bank bought a new stake in Model N during the third quarter valued at approximately $7,185,000. Finally, Sea Cliff Partners Management LP bought a new stake in Model N during the fourth quarter valued at approximately $6,078,000.

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.