Model N (NYSE:MODN) Sees Strong Trading Volume

Shares of Model N, Inc. (NYSE:MODN) saw unusually-high trading volume on Tuesday . Approximately 245,115 shares were traded during trading, a decline of 53% from the previous session’s volume of 517,806 shares.The stock last traded at $29.84 and had previously closed at $29.65.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Robert W. Baird restated a “neutral” rating and set a $30.00 price objective on shares of Model N in a research note on Monday, April 8th. Royal Bank of Canada restated a “sector perform” rating and set a $30.00 price objective on shares of Model N in a research note on Tuesday, April 9th. JMP Securities restated a “market perform” rating on shares of Model N in a research note on Tuesday, April 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $30.00 target price (down previously from $37.00) on shares of Model N in a report on Wednesday, April 10th. Finally, 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. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.80.

Model N Price Performance

The stock 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 fifty day simple moving average of $26.57 and a 200 day simple moving average of $25.53. The company has a debt-to-equity ratio of 2.26, a quick ratio of 4.00 and a current ratio of 4.00.

Model N (NYSE:MODN) last posted its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Model N had a positive return on equity of 5.79% and a negative net margin of 12.48%. The business had revenue of $63.49 million during the quarter, compared to the consensus estimate of $62.12 million. Equities research analysts forecast that Model N, Inc. will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Model N

In other news, CFO John Ederer sold 8,018 shares of the company’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 value of $202,935.58. Following the completion of the transaction, the chief financial officer now directly owns 307,127 shares of the company’s stock, valued at $7,773,384.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Model N news, CFO John Ederer sold 8,018 shares of the stock in a transaction 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 in the company, valued at $7,773,384.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Laura Selig sold 2,655 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $25.32, for a total value of $67,224.60. Following the sale, the insider now owns 141,517 shares in the company, valued at approximately $3,583,210.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,616 shares of company stock worth $1,897,243. Insiders own 2.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Conestoga Capital Advisors LLC lifted its holdings in shares of 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 purchasing an additional 507,090 shares during the last quarter. Vanguard Group Inc. raised its holdings in Model N by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,644,961 shares of the software maker’s stock worth $64,563,000 after acquiring an additional 128,461 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in Model N by 70.8% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 44,400 shares of the software maker’s stock worth $1,084,000 after acquiring an additional 18,400 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Model N in the 4th quarter worth approximately $7,964,000. Finally, Artisan Partners Limited Partnership raised its holdings in Model N by 14.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 3,310,207 shares of the software maker’s stock worth $80,802,000 after acquiring an additional 421,952 shares during the last quarter.

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.