BidaskClub downgraded shares of Model N, Inc. (NYSE:MODN) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.
Several other brokerages have also recently issued reports on MODN. Zacks Investment Research cut shares of Model N from a buy rating to a hold rating in a report on Friday, September 22nd. ValuEngine raised shares of Model N from a sell rating to a hold rating in a report on Friday, September 1st. Finally, Dougherty & Co assumed coverage on shares of Model N in a report on Thursday, June 29th. They issued a buy rating and a $17.00 target price for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $13.67.
Model N (NYSE:MODN) last posted its quarterly earnings data on Tuesday, August 8th. The software maker reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.04. Model N had a negative net margin of 30.85% and a negative return on equity of 52.59%. The business had revenue of $34.20 million for the quarter, compared to analyst estimates of $34.41 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. Model N’s quarterly revenue was up 22.6% on a year-over-year basis.
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In other Model N news, SVP Amelia Generalis sold 3,758 shares of Model N stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $13.30, for a total value of $49,981.40. Following the completion of the transaction, the senior vice president now directly owns 76,734 shares of the company’s stock, valued at $1,020,562.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 20.40% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Prescott Group Capital Management L.L.C. purchased a new position in shares of Model N during the second quarter valued at approximately $140,000. Prudential Financial Inc. purchased a new position in shares of Model N during the second quarter valued at approximately $141,000. American International Group Inc. raised its holdings in shares of Model N by 7.1% during the first quarter. American International Group Inc. now owns 13,678 shares of the software maker’s stock valued at $143,000 after purchasing an additional 904 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Model N by 14.7% during the second quarter. Voya Investment Management LLC now owns 14,963 shares of the software maker’s stock valued at $199,000 after purchasing an additional 1,915 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Model N during the second quarter valued at approximately $221,000. 65.87% of the stock is owned by institutional investors and hedge funds.
Model N Company Profile
Model N, Inc is a provider of revenue management solutions for life science and technology companies. The Company’s solutions enable its customers to maximize revenues and reduce revenue compliance risk by transforming their revenue life cycle from a series of tactical, disjointed operations into a strategic end-to-end process.
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