Model N (NYSE:MODN) Rating Increased to Buy at Zacks Investment Research

Model N (NYSE:MODN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday, November 13th. The firm currently has a $16.00 target price on the software maker’s stock. Zacks Investment Research‘s price target indicates a potential downside of 1.84% from the stock’s previous close.

According to Zacks, “Model N reported better-than-expected fourth-quarter fiscal 2017 results.  Revenues increased on a year-over-year basis driven by the successful integration of Revitas. Management is also optimistic about the steady progress in the company’s transformation to a 100% Software-as-a-Service (SaaS) based model. The Revenue Cloud offering for med-tech, pharma and high tech companies is also gaining traction, driving expansion in customer base. Moreover, the transition to cloud-based applications will drive recurring revenue growth in the long term. We note that the stock has outperformed the industry on a year-to-date basis. However, the company is yet to report profit, which doesn't augur well for investors.”

MODN has been the topic of a number of other reports. BidaskClub downgraded shares of Model N from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 24th. ValuEngine raised shares of Model N from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Model N presently has a consensus rating of “Buy” and a consensus price target of $14.75.

Shares of Model N (NYSE:MODN) opened at $16.30 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.27. Model N has a twelve month low of $7.90 and a twelve month high of $16.75.

Model N (NYSE:MODN) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.03. Model N had a negative net margin of 30.15% and a negative return on equity of 55.26%. The firm had revenue of $35.61 million for the quarter, compared to the consensus estimate of $34.86 million. During the same period in the prior year, the firm posted ($0.28) earnings per share. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. research analysts forecast that Model N will post -0.64 EPS for the current year.

In other Model N news, Director Alan S. Henricks sold 4,730 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $14.59, for a total transaction of $69,010.70. Following the completion of the transaction, the director now directly owns 40,134 shares in the company, valued at $585,555.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan S. Henricks sold 13,475 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $14.50, for a total transaction of $195,387.50. Following the transaction, the director now owns 40,134 shares of the company’s stock, valued at $581,943. The disclosure for this sale can be found here. Insiders have sold 28,099 shares of company stock worth $401,158 over the last three months. 20.40% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. American International Group Inc. raised its position in Model N by 7.1% during the first quarter. American International Group Inc. now owns 13,678 shares of the software maker’s stock worth $143,000 after acquiring an additional 904 shares during the period. Rhumbline Advisers raised its position in Model N by 3.7% during the second quarter. Rhumbline Advisers now owns 25,302 shares of the software maker’s stock worth $337,000 after acquiring an additional 905 shares during the period. Bank of New York Mellon Corp raised its position in Model N by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 80,185 shares of the software maker’s stock worth $1,066,000 after acquiring an additional 923 shares during the period. Voya Investment Management LLC raised its position in Model N by 14.7% during the second quarter. Voya Investment Management LLC now owns 14,963 shares of the software maker’s stock worth $199,000 after acquiring an additional 1,915 shares during the period. Finally, First Light Asset Management LLC raised its position in Model N by 0.6% during the second quarter. First Light Asset Management LLC now owns 423,211 shares of the software maker’s stock worth $5,629,000 after acquiring an additional 2,461 shares during the period. Institutional investors own 65.69% of the company’s stock.

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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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