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

Shares of Model N, Inc. (NYSE:MODN) have received an average recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $31.80.

A number of research firms have weighed in on MODN. Morgan Stanley reissued an “equal weight” rating and set a $30.00 price objective (down previously from $37.00) on shares of Model N in a report on Wednesday, April 10th. Craig Hallum restated a “hold” rating and set a $30.00 target price on shares of Model N in a research report on Tuesday, April 9th. Royal Bank of Canada restated a “sector perform” rating and set a $30.00 target price on shares of Model N in a research report on Tuesday, April 9th. StockNews.com started coverage on shares of Model N in a research report on Thursday. They set a “hold” rating on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Model N in a research report on Tuesday, April 9th.

Insider Activity at Model N

In related news, insider Laura Selig sold 4,770 shares of Model N stock in a transaction on 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 directly owns 143,866 shares in the company, valued at approximately $3,795,185.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Model N news, Director Dave Yarnold sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $26.88, for a total transaction of $134,400.00. Following the sale, the director now directly owns 22,012 shares in the company, valued at approximately $591,682.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura Selig sold 4,770 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.38, for a total transaction of $125,832.60. Following the transaction, the insider now directly owns 143,866 shares in the company, valued at $3,795,185.08. The disclosure for this sale can be found here. Insiders have sold a total of 72,616 shares of company stock worth $1,897,243 in the last three months. Insiders own 2.55% of the company’s stock.

Hedge Funds Weigh In On Model N

Institutional investors and hedge funds have recently made changes to their positions in the stock. Conestoga Capital Advisors LLC grew its stake in shares of Model N by 15.3% during the 4th quarter. Conestoga Capital Advisors LLC now owns 3,824,894 shares of the software maker’s stock worth $103,004,000 after purchasing an additional 507,090 shares during the period. Vanguard Group Inc. grew its stake in shares of Model N by 5.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,644,961 shares of the software maker’s stock worth $64,563,000 after purchasing an additional 128,461 shares during the period. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Model N by 70.8% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 44,400 shares of the software maker’s stock worth $1,084,000 after purchasing an additional 18,400 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Model N during the 4th quarter worth $7,964,000. Finally, Artisan Partners Limited Partnership grew its stake in shares of Model N by 14.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,310,207 shares of the software maker’s stock worth $80,802,000 after purchasing an additional 421,952 shares during the period.

Model N Stock Up 0.5 %

MODN stock opened at $29.80 on Thursday. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 2.26. Model N has a twelve month low of $20.90 and a twelve month high of $35.96. The company’s 50 day moving average is $26.69 and its two-hundred day moving average is $25.59. The stock has a market cap of $1.16 billion, a P/E ratio of -35.48 and a beta of 0.70.

Model N (NYSE:MODN) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Model N had a positive return on equity of 5.79% and a negative net margin of 12.48%. The company had revenue of $63.49 million for the quarter, compared to analyst estimates of $62.12 million. Research analysts expect that Model N will post 0.2 earnings per share for the current fiscal year.

Model N Company Profile

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.