Model N (NYSE:MODN) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Model N (NYSE:MODNGet Rating) from a buy rating to a hold rating in a report released on Friday.

Several other equities research analysts also recently weighed in on the stock. Needham & Company LLC reiterated a buy rating and set a $34.00 target price on shares of Model N in a research note on Friday, March 25th. TheStreet cut shares of Model N from a c- rating to a d+ rating in a report on Thursday, February 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $39.50.

NYSE MODN opened at $26.55 on Friday. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.98. Model N has a 1 year low of $22.55 and a 1 year high of $42.74. The firm has a market capitalization of $967.30 million, a P/E ratio of -30.87 and a beta of 0.97. The company has a fifty day moving average of $25.76.

Model N (NYSE:MODNGet Rating) last released its quarterly earnings data on Tuesday, February 8th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. Model N had a negative net margin of 15.25% and a negative return on equity of 10.06%. The company had revenue of $51.54 million during the quarter, compared to the consensus estimate of $49.88 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. Model N’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Model N will post -0.32 earnings per share for the current year.

In related news, CEO Jason Blessing sold 10,058 shares of the firm’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $25.32, for a total transaction of $254,668.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John Ederer sold 3,584 shares of the firm’s stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $25.33, for a total transaction of $90,782.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,562 shares of company stock valued at $520,194. Corporate insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Byrne Asset Management LLC boosted its holdings in shares of Model N by 76.7% in the 1st quarter. Byrne Asset Management LLC now owns 961 shares of the software maker’s stock valued at $26,000 after purchasing an additional 417 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Model N in the 1st quarter valued at $27,000. Fifth Third Bancorp boosted its holdings in shares of Model N by 23.1% in the 4th quarter. Fifth Third Bancorp now owns 4,006 shares of the software maker’s stock valued at $120,000 after purchasing an additional 753 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Model N in the 4th quarter valued at $201,000. Finally, Summit Global Investments acquired a new position in shares of Model N in the 3rd quarter valued at $204,000. Hedge funds and other institutional investors own 95.27% of the company’s stock.

About Model N (Get Rating)

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies. 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 timely, as well as at correct rates for government medicaid programs.

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