Model N’s (MODN) Hold Rating Reaffirmed at Needham & Company LLC

Model N (NYSE:MODN)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports.

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

Model N Stock Down 0.4 %

MODN stock opened at $29.69 on Tuesday. The company’s 50 day simple moving average is $27.58 and its 200-day simple moving average is $26.16. The firm has a market capitalization of $1.16 billion, a PE ratio of -35.35 and a beta of 0.68. Model N has a 12 month low of $20.90 and a 12 month high of $35.96. The company has a debt-to-equity ratio of 2.26, a current ratio of 4.00 and a quick ratio of 4.00.

Model N (NYSE:MODN) last released its quarterly earnings results on Monday, May 6th. The software maker reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). The business had revenue of $65.10 million during the quarter, compared to analyst estimates of $64.45 million. Model N had a negative net margin of 12.48% and a positive return on equity of 5.79%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Equities analysts expect that Model N will post 0.2 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO Christopher Lyon sold 8,124 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $25.26, for a total value of $205,212.24. Following the transaction, the executive now owns 229,721 shares of the company’s stock, valued at approximately $5,802,752.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Laura Selig sold 2,655 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $25.32, for a total value of $67,224.60. Following the transaction, the insider now owns 141,517 shares of the company’s stock, valued at approximately $3,583,210.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Christopher Lyon sold 8,124 shares of Model N stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $25.26, for a total transaction of $205,212.24. Following the sale, the executive now directly owns 229,721 shares in the company, valued at approximately $5,802,752.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,616 shares of company stock valued at $1,897,243. Company insiders own 2.55% of the company’s stock.

Institutional Investors Weigh In On Model N

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its holdings in Model N by 2.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,865 shares of the software maker’s stock worth $395,000 after acquiring an additional 355 shares in the last quarter. Hardy Reed LLC acquired a new position in Model N during the 1st quarter worth $219,000. Conestoga Capital Advisors LLC grew its holdings in Model N by 0.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 3,855,355 shares of the software maker’s stock worth $109,762,000 after acquiring an additional 30,461 shares in the last quarter. Quadrature Capital Ltd grew its holdings in Model N by 43.9% during the 4th quarter. Quadrature Capital Ltd now owns 23,532 shares of the software maker’s stock worth $635,000 after acquiring an additional 7,183 shares in the last quarter. Finally, Bares Capital Management Inc. grew its holdings in Model N by 63.8% during the 4th quarter. Bares Capital Management Inc. now owns 565,000 shares of the software maker’s stock worth $15,215,000 after acquiring an additional 220,000 shares in 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.