Zacks Investment Research lowered shares of Model N Inc. (NYSE:MODN) from a hold rating to a sell rating in a research note issued to investors on Saturday.

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. “

Several other research analysts have also recently issued reports on the company. JMP Securities cut Model N from an outperform rating to a market perform rating in a report on Tuesday, August 9th. Deutsche Bank AG reaffirmed a buy rating and issued a $16.00 price target (down previously from $18.00) on shares of Model N in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. raised Model N from a neutral rating to an overweight rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $16.00.

Model N (NYSE:MODN) opened at 8.45 on Friday. The company has a 50-day moving average price of $10.07 and a 200-day moving average price of $11.47. The firm’s market cap is $234.62 million. Model N has a one year low of $6.98 and a one year high of $13.98.

Model N (NYSE:MODN) last posted its quarterly earnings results on Monday, November 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. The company had revenue of $28.50 million for the quarter, compared to analysts’ expectations of $27.73 million. Model N had a negative return on equity of 41.74% and a negative net margin of 30.95%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) earnings per share. Equities analysts predict that Model N will post ($0.66) earnings per share for the current fiscal year.

In other news, SVP Eric Carrasquilla sold 4,031 shares of the business’s stock in a transaction 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 in the company, valued at approximately $633,321.51. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 20.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Redmile Group LLC boosted its position in Model N by 0.8% in the second quarter. Redmile Group LLC now owns 1,900,659 shares of the company’s stock valued at $25,374,000 after buying an additional 15,300 shares in the last quarter. Penn Capital Management Co. Inc. boosted its position in Model N by 0.9% in the second quarter. Penn Capital Management Co. Inc. now owns 1,511,395 shares of the company’s stock valued at $20,187,000 after buying an additional 13,151 shares in the last quarter. Vanguard Group Inc. boosted its position in Model N by 1.2% in the second quarter. Vanguard Group Inc. now owns 843,969 shares of the company’s stock valued at $11,267,000 after buying an additional 10,276 shares in the last quarter. Emerald Advisers Inc. PA boosted its position in Model N by 1.1% in the second quarter. Emerald Advisers Inc. PA now owns 729,137 shares of the company’s stock valued at $9,734,000 after buying an additional 7,730 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Model N by 4.6% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 648,075 shares of the company’s stock valued at $7,200,000 after buying an additional 28,310 shares in the last quarter. Institutional investors and hedge funds own 67.24% of the company’s stock.

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.

5 Day Chart for NYSE:MODN

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