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

Needham & Company LLC restated their hold rating on shares of Model N (NYSE:MODN) in a report issued on Monday morning, Benzinga reports.

A number of other analysts also recently issued reports on the company. Robert W. Baird reissued a neutral rating and set a $30.00 price objective on shares of Model N in a research report on Monday, April 8th. Royal Bank of Canada reiterated a sector perform rating and issued a $30.00 price objective on shares of Model N in a research note on Tuesday, April 9th. Craig Hallum restated a hold rating and set a $30.00 target price on shares of Model N in a research note on Tuesday, April 9th. StockNews.com began coverage on Model N in a research note on Thursday, April 18th. They set a hold rating for the company. 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 note on Wednesday, April 10th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Model N currently has a consensus rating of Hold and an average price target of $31.80.

Model N Trading Down 0.1 %

NYSE MODN opened at $29.63 on Monday. Model N has a 52 week low of $20.90 and a 52 week high of $35.96. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 2.26. The business’s fifty day simple moving average is $26.97 and its 200-day simple moving average is $25.82.

Model N (NYSE:MODN) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.01 earnings per share (EPS) 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 positive return on equity of 5.79% and a negative net margin of 12.48%. On average, equities research analysts predict that Model N will post 0.2 EPS for the current year.

Insider Buying and Selling at Model N

In other Model N news, insider Laura Selig sold 2,655 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $25.32, for a total value of $67,224.60. Following the completion of the sale, the insider now owns 141,517 shares in the company, valued at $3,583,210.44. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Laura Selig sold 2,655 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was 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 $3,583,210.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dave Yarnold sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $26.88, for a total value of $134,400.00. Following the completion of the transaction, the director now directly owns 22,012 shares in the company, valued at approximately $591,682.56. 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. 2.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Conestoga Capital Advisors LLC grew its holdings in Model N by 15.3% during the fourth quarter. Conestoga Capital Advisors LLC now owns 3,824,894 shares of the software maker’s stock worth $103,004,000 after acquiring an additional 507,090 shares during the period. Vanguard Group Inc. grew its holdings in Model N by 5.1% during the third quarter. Vanguard Group Inc. now owns 2,644,961 shares of the software maker’s stock worth $64,563,000 after acquiring an additional 128,461 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in Model N by 70.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 44,400 shares of the software maker’s stock worth $1,084,000 after acquiring an additional 18,400 shares during the period. Assenagon Asset Management S.A. acquired a new position in Model N during the fourth quarter worth $7,964,000. Finally, Artisan Partners Limited Partnership grew its holdings in Model N by 14.6% during the third quarter. Artisan Partners Limited Partnership now owns 3,310,207 shares of the software maker’s stock worth $80,802,000 after acquiring an additional 421,952 shares during the period.

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.