Model N Inc. (NYSE:MODN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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 equities research analysts have also issued reports on MODN. JMP Securities lowered shares of 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 set a $16.00 price target (down from $18.00) on shares of Model N in a report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. raised shares of Model N from a “neutral” rating to an “overweight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.00.

Shares of Model N (NYSE:MODN) opened at 8.45 on Friday. The company’s market cap is $234.62 million. Model N has a 52 week low of $6.98 and a 52 week high of $13.98. The firm has a 50-day moving average of $10.07 and a 200 day moving average of $11.47.

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

In related news, SVP Eric Carrasquilla sold 4,031 shares of Model N 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 sale, 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 can be accessed through this link. Corporate insiders own 20.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Advisors LLC increased its position in shares of Model N by 7.7% in the third quarter. BlackRock Advisors LLC now owns 11,770 shares of the company’s stock worth $131,000 after buying an additional 840 shares during the period. TFS Capital LLC purchased a new position in shares of Model N during the second quarter worth about $150,000. American International Group Inc. increased its position in shares of Model N by 4.4% in the second quarter. American International Group Inc. now owns 12,789 shares of the company’s stock worth $171,000 after buying an additional 534 shares during the period. Nationwide Fund Advisors increased its position in shares of Model N by 4.4% in the second quarter. Nationwide Fund Advisors now owns 14,517 shares of the company’s stock worth $194,000 after buying an additional 610 shares during the period. Finally, Trellus Management Company LLC purchased a new position in shares of Model N during the third quarter worth about $199,000. Hedge funds and other institutional investors 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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