Model N Inc. (MODN) Upgraded to Hold at Zacks Investment Research
According to Zacks, “Model N, Inc. provides revenue management solutions for the life science and technology industries. It develops applications, such as managed care and government pricing for life science companies; and channel incentives based on design wins for technology companies. In addition, it offers implementation, managed, strategic, and customer support services. Model N, Inc. is headquartered in Redwood Shores, California. “
A number of other analysts also recently commented on the stock. Deutsche Bank AG restated a buy rating and set a $16.00 price target (down from $18.00) on shares of Model N in a research report on Tuesday, August 9th. JMP Securities downgraded shares of Model N from an outperform rating to a market perform rating in a research report on Tuesday, August 9th.
Model N (NYSE:MODN) opened at 10.10 on Wednesday. Model N has a one year low of $9.19 and a one year high of $13.98. The stock’s market capitalization is $279.44 million. The firm has a 50-day moving average of $10.66 and a 200-day moving average of $11.62.
Model N (NYSE:MODN) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. Model N had a negative net margin of 29.19% and a negative return on equity of 37.01%. The company had revenue of $27.90 million for the quarter, compared to the consensus estimate of $27.34 million. During the same period in the previous year, the firm earned ($0.08) EPS. Model N’s revenue was up 18.2% on a year-over-year basis. On average, equities research analysts forecast that Model N will post ($0.66) earnings per share for the current year.
In related news, SVP Eric Carrasquilla sold 4,031 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $10.61, for a total transaction of $42,768.91. Following the transaction, the senior vice president now directly owns 59,691 shares of the company’s stock, valued at $633,321.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 20.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new stake in Model N during the second quarter valued at approximately $5,680,000. First Light Asset Management LLC acquired a new stake in Model N during the second quarter valued at approximately $5,302,000. Allianz Asset Management AG acquired a new stake in Model N during the second quarter valued at approximately $3,373,000. EAM Investors LLC acquired a new stake in Model N during the second quarter valued at approximately $2,523,000. Finally, RGM Capital LLC increased its stake in Model N by 3.4% in the first quarter. RGM Capital LLC now owns 2,401,177 shares of the company’s stock valued at $25,861,000 after buying an additional 78,726 shares in the last quarter. 67.47% of the stock is owned by institutional investors.
About Model N
Model N, Inc is a provider of revenue management cloud solutions for life science and technology companies. The Company’s solutions enable its customers to manage revenue compliance risk. The Company’s solutions include Revenue Enterprise Cloud, Revenue Intelligence Cloud and Revvy. The Company provides solutions that span the organizational and operational boundaries of functions, such as sales, marketing and finance, and serve as a system of record for revenue management processes, including pricing, contracts, rebates, incentives and regulatory compliance.
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