Shares of Model N Inc (NYSE:MODN) have received an average recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $32.33.
MODN has been the subject of a number of research reports. JPMorgan Chase & Co. raised shares of Model N from a “neutral” rating to an “overweight” rating and set a $36.00 price target for the company in a research report on Thursday, December 12th. They noted that the move was a valuation call. ValuEngine cut shares of Model N from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Dougherty & Co boosted their price target on shares of Model N from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Oppenheimer boosted their price target on shares of Model N from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of Model N in a research report on Wednesday, November 6th.
In other news, SVP Laura Selig sold 3,459 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $31.62, for a total value of $109,373.58. Following the completion of the sale, the senior vice president now directly owns 33,810 shares of the company’s stock, valued at $1,069,072.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David Barter sold 3,965 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $30.15, for a total transaction of $119,544.75. Over the last three months, insiders sold 30,062 shares of company stock valued at $927,086. 1.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cutler Group LP raised its holdings in Model N by 1,500.0% during the third quarter. Cutler Group LP now owns 1,400 shares of the software maker’s stock worth $38,000 after purchasing an additional 1,500 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Model N during the third quarter worth about $93,000. Bank of Montreal Can raised its holdings in Model N by 119.4% during the second quarter. Bank of Montreal Can now owns 4,973 shares of the software maker’s stock worth $97,000 after purchasing an additional 2,706 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Model N during the second quarter worth about $111,000. Finally, Envestnet Asset Management Inc. acquired a new position in Model N during the third quarter worth about $236,000. 83.60% of the stock is owned by hedge funds and other institutional investors.
Shares of MODN opened at $34.70 on Thursday. Model N has a 1-year low of $14.11 and a 1-year high of $35.84. The stock has a market cap of $1.14 billion, a PE ratio of -80.70 and a beta of 0.54. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a fifty day moving average price of $33.28 and a 200 day moving average price of $28.09.
Model N (NYSE:MODN) last announced its quarterly earnings results on Tuesday, November 5th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.15. Model N had a negative net margin of 13.66% and a negative return on equity of 29.48%. The firm had revenue of $36.60 million during the quarter, compared to analysts’ expectations of $35.72 million. During the same period in the previous year, the company earned $0.06 earnings per share. Model N’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities analysts expect that Model N will post -0.41 EPS for the current fiscal year.
About Model N
Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.
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