StockNews.com Begins Coverage on Model N (NYSE:MODN)

Research analysts at StockNews.com initiated coverage on shares of Model N (NYSE:MODN) in a note issued to investors on Thursday. The firm set a “hold” rating on the software maker’s stock.

Several other brokerages also recently issued reports on MODN. Needham & Company LLC reissued a “hold” rating on shares of Model N in a research report on Tuesday, April 9th. Craig Hallum reissued a “hold” rating and issued a $30.00 target price on shares of Model N in a report on Tuesday, April 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a $30.00 price target (down from $37.00) on shares of Model N in a report on Wednesday, April 10th. JMP Securities reissued a “market perform” rating on shares of Model N in a research note on Tuesday, April 9th. Finally, Robert W. Baird restated a “neutral” rating and issued a $30.00 target price on shares of Model N in a research note on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.80.

Model N Stock Performance

Shares of Model N stock opened at $29.62 on Thursday. The firm has a market capitalization of $1.16 billion, a P/E ratio of -35.26 and a beta of 0.70. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 2.26. Model N has a 52 week low of $20.90 and a 52 week high of $35.96. The firm’s 50 day moving average is $26.76 and its two-hundred day moving average is $25.66.

Model N (NYSE:MODN) last announced its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.01 EPS 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 company had revenue of $63.49 million for the quarter, compared to analyst estimates of $62.12 million. Research analysts forecast that Model N will post 0.2 EPS for the current fiscal year.

Insider Transactions at Model N

In related news, CEO Jason Blessing sold 27,446 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.38, for a total value of $724,025.48. Following the sale, the chief executive officer now owns 903,451 shares of the company’s stock, valued at approximately $23,833,037.38. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Jason Blessing sold 27,446 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.38, for a total value of $724,025.48. Following the completion of the transaction, the chief executive officer now owns 903,451 shares of the company’s stock, valued at approximately $23,833,037.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Ederer sold 8,241 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $26.38, for a total transaction of $217,397.58. Following the sale, the chief financial officer now directly owns 315,145 shares in the company, valued at $8,313,525.10. The disclosure for this sale can be found here. Insiders sold a total of 72,616 shares of company stock valued at $1,897,243 in the last ninety days. Corporate insiders own 2.55% of the company’s stock.

Hedge Funds Weigh In On Model N

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates grew its stake in Model N by 28.2% during the first quarter. Raymond James & Associates now owns 30,345 shares of the software maker’s stock worth $816,000 after buying an additional 6,676 shares during the period. Bank of New York Mellon Corp increased its holdings in Model N by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 138,478 shares of the software maker’s stock valued at $3,725,000 after purchasing an additional 2,363 shares in the last quarter. US Bancorp DE raised its position in Model N by 46.6% in the first quarter. US Bancorp DE now owns 19,375 shares of the software maker’s stock valued at $521,000 after purchasing an additional 6,156 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Model N by 13.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,080 shares of the software maker’s stock worth $136,000 after buying an additional 588 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Model N by 61.2% in the first quarter. MetLife Investment Management LLC now owns 18,585 shares of the software maker’s stock valued at $500,000 after buying an additional 7,054 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.