Needham & Company LLC Reiterates Hold Rating for Model N (NYSE:MODN)

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

A number of other brokerages have also recently weighed in on MODN. Robert W. Baird reaffirmed a “neutral” rating and set a $30.00 price target on shares of Model N in a research report on Monday, April 8th. Royal Bank of Canada reissued 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 reissued a “market perform” rating on shares of Model N in a research report on Tuesday, April 9th. Morgan Stanley reissued an “equal weight” rating and set a $30.00 target price (down from $37.00) on shares of Model N in a research report on Wednesday, April 10th. Finally, Craig Hallum reissued a “hold” rating and set a $30.00 target price on shares of Model N in a research report on Tuesday, April 9th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.80.

Model N Price Performance

MODN opened at $29.66 on Monday. The company’s 50 day simple moving average is $26.87 and its 200 day simple moving average is $25.77. 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 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 PE ratio of -35.31 and a beta of 0.70.

Model N (NYSE:MODN) last announced its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $63.49 million for the quarter, compared to analyst estimates of $62.12 million. Model N had a negative net margin of 12.48% and a positive return on equity of 5.79%. As a group, sell-side analysts expect that Model N will post 0.2 EPS for the current year.

Insider Buying and Selling

In other Model N news, CRO Christopher Lyon sold 7,862 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.38, for a total transaction of $207,399.56. Following the completion of the sale, the executive now owns 237,845 shares in the company, valued at $6,274,351.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Model N news, CRO Christopher Lyon sold 7,862 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.38, for a total transaction of $207,399.56. Following the completion of the sale, the executive now owns 237,845 shares in the company, valued at $6,274,351.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Laura Selig sold 4,770 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.38, for a total transaction of $125,832.60. Following the sale, the insider now owns 143,866 shares of the company’s stock, valued at approximately $3,795,185.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,616 shares of company stock worth $1,897,243. Insiders own 2.55% of the company’s stock.

Hedge Funds Weigh In On Model N

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ziegler Capital Management LLC boosted its holdings in shares of Model N by 3.9% during the third quarter. Ziegler Capital Management LLC now owns 13,018 shares of the software maker’s stock valued at $318,000 after acquiring an additional 493 shares during the period. Lmcg Investments LLC boosted its holdings in shares of Model N by 2.1% during the third quarter. Lmcg Investments LLC now owns 40,660 shares of the software maker’s stock valued at $993,000 after acquiring an additional 830 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Model N by 6.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,130 shares of the software maker’s stock valued at $461,000 after acquiring an additional 1,043 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Model N by 14.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,235 shares of the software maker’s stock valued at $249,000 after acquiring an additional 1,181 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Model N in the third quarter worth about $34,000.

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.