Brokerages Set Model N, Inc. (NYSE:MODN) PT at $31.80

Model N, Inc. (NYSE:MODN) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are presently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $31.80.

Several research analysts recently issued reports on MODN shares. Morgan Stanley reaffirmed 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. Craig Hallum reissued a “hold” rating and issued a $30.00 price objective 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 Monday. Robert W. Baird reissued a “neutral” rating and issued a $30.00 price objective on shares of Model N in a research report on Monday, April 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Model N in a research report on Tuesday.

Insider Activity

In other Model N news, Director Dave Yarnold sold 5,000 shares of Model N 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 completion of the transaction, the director now owns 22,012 shares in the company, valued at approximately $591,682.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Model N news, Director Dave Yarnold sold 5,000 shares of Model N 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 completion of the transaction, the director now owns 22,012 shares in the company, valued at approximately $591,682.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura Selig sold 4,770 shares of Model N stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.38, for a total value of $125,832.60. Following the transaction, 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. Insiders sold a total of 72,616 shares of company stock worth $1,897,243 in the last three months. Company insiders own 2.55% of the company’s stock.

Hedge Funds Weigh In On Model N

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Conestoga Capital Advisors LLC boosted its stake in shares of Model N by 0.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 3,855,355 shares of the software maker’s stock worth $109,762,000 after buying an additional 30,461 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of 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 buying an additional 421,952 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Model N by 8.2% in the 4th quarter. Clearbridge Investments LLC now owns 2,718,760 shares of the software maker’s stock worth $73,216,000 after buying an additional 206,292 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 128,461 shares during the last quarter. Finally, Ranger Investment Management L.P. boosted its stake in shares of Model N by 8.2% in the 4th 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 during the last quarter.

Model N Stock Down 0.0 %

Shares of NYSE:MODN opened at $29.76 on Monday. The firm has a market cap of $1.16 billion, a P/E ratio of -35.43 and a beta of 0.68. 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 12-month low of $20.90 and a 12-month high of $35.96. The business has a fifty day simple moving average of $27.78 and a 200 day simple moving average of $26.23.

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

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.