Model N (NYSE:MODN) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Model N (NYSE:MODN) in a research note issued to investors on Monday morning, Benzinga reports.

MODN has been the topic of several other research reports. Craig Hallum reaffirmed a hold rating and set a $30.00 target price on shares of Model N in a research note on Tuesday, April 9th. Morgan Stanley reiterated an equal weight rating and set a $30.00 price target (down previously from $37.00) on shares of Model N in a report on Wednesday, April 10th. Royal Bank of Canada reiterated a sector perform rating and set a $30.00 price target on shares of Model N in a report on Tuesday, April 9th. Robert W. Baird reiterated a neutral rating and set a $30.00 price target on shares of Model N in a report on Monday, April 8th. Finally, StockNews.com assumed coverage on Model N in a report on Thursday, April 18th. They set a hold rating on the stock. 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 stock presently has a consensus rating of Hold and an average price target of $31.80.

Model N Price Performance

Model N stock opened at $29.65 on Monday. The company’s fifty day moving average price is $26.92 and its 200 day moving average price is $25.80. Model N has a 1 year low of $20.90 and a 1 year high of $35.96. The stock has a market capitalization of $1.16 billion, a P/E ratio of -35.30 and a beta of 0.70. 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 announced its earnings results on Tuesday, February 6th. The software maker reported $0.01 earnings per share (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 business had revenue of $63.49 million for the quarter, compared to analyst estimates of $62.12 million. As a group, equities research analysts anticipate that Model N will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Model N

In other Model N news, insider Laura Selig sold 2,655 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $25.32, for a total transaction of $67,224.60. Following the sale, the insider now directly owns 141,517 shares in the company, valued at $3,583,210.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Model N news, insider Laura Selig sold 2,655 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $25.32, for a total transaction of $67,224.60. Following the sale, the insider now directly owns 141,517 shares in the company, valued at $3,583,210.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dave Yarnold sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $26.88, for a total transaction of $134,400.00. Following the sale, the director now owns 22,012 shares in the company, valued at $591,682.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,616 shares of company stock worth $1,897,243. Company insiders own 2.55% of the company’s stock.

Institutional Trading of Model N

A number of institutional investors and hedge funds have recently bought and sold shares of MODN. Quadrature Capital Ltd grew its position in shares of Model N by 43.9% during the fourth quarter. Quadrature Capital Ltd now owns 23,532 shares of the software maker’s stock worth $635,000 after buying an additional 7,183 shares in the last quarter. Bares Capital Management Inc. grew its position in shares of Model N by 63.8% during the fourth quarter. Bares Capital Management Inc. now owns 565,000 shares of the software maker’s stock worth $15,215,000 after buying an additional 220,000 shares in the last quarter. Ranger Investment Management L.P. grew its position in shares of Model N by 8.2% during the fourth quarter. Ranger Investment Management L.P. now owns 937,846 shares of the software maker’s stock worth $25,256,000 after buying an additional 70,868 shares in the last quarter. Sea Cliff Partners Management LP acquired a new position in shares of Model N during the fourth quarter worth about $6,078,000. Finally, Stephens Investment Management Group LLC grew its position in shares of Model N by 38.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 506,371 shares of the software maker’s stock worth $13,637,000 after buying an additional 139,338 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.