Model N (NYSE:MODN) released its quarterly earnings results on Tuesday. The software maker reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09, Morningstar.com reports. The business had revenue of $34.71 million during the quarter, compared to analysts’ expectations of $34.16 million. Model N had a negative return on equity of 56.80% and a negative net margin of 20.30%. The company’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) EPS.
MODN traded up $3.20 during mid-day trading on Wednesday, hitting $25.00. 1,280,340 shares of the stock were exchanged, compared to its average volume of 199,302. The firm’s fifty day moving average price is $20.56. Model N has a 1-year low of $12.60 and a 1-year high of $25.45. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.86. The company has a market cap of $715.59 million, a P/E ratio of -34.25 and a beta of 0.56.
In related news, CEO Jason Blessing sold 12,022 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $18.89, for a total transaction of $227,095.58. Following the transaction, the chief executive officer now owns 362,184 shares of the company’s stock, valued at approximately $6,841,655.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Mark Albert Anderson sold 4,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $18.59, for a total value of $74,360.00. Following the transaction, the senior vice president now directly owns 130,934 shares in the company, valued at approximately $2,434,063.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,833 shares of company stock worth $467,895. 1.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Trigran Investments Inc. raised its position in Model N by 2.9% in the 1st quarter. Trigran Investments Inc. now owns 2,033,981 shares of the software maker’s stock valued at $35,676,000 after purchasing an additional 57,202 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Model N by 4.6% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,017,873 shares of the software maker’s stock worth $17,853,000 after acquiring an additional 44,993 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Model N by 35.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 546,006 shares of the software maker’s stock worth $9,577,000 after acquiring an additional 144,024 shares in the last quarter. American Century Companies Inc. raised its position in shares of Model N by 2.4% during the 4th quarter. American Century Companies Inc. now owns 344,224 shares of the software maker’s stock worth $4,554,000 after acquiring an additional 8,145 shares in the last quarter. Finally, PenderFund Capital Management Ltd. raised its position in shares of Model N by 77.3% during the 2nd quarter. PenderFund Capital Management Ltd. now owns 325,000 shares of the software maker’s stock worth $5,631,000 after acquiring an additional 141,649 shares in the last quarter. 75.81% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on MODN. Needham & Company LLC upgraded Model N from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday. Chardan Capital reiterated a “buy” rating and set a $23.00 price target on shares of Model N in a report on Monday, May 20th. JMP Securities increased their target price on Model N to $29.00 and gave the stock a “positive” rating in a research note on Wednesday. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their target price on Model N from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, National Securities reissued a “buy” rating on shares of Model N in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Model N presently has a consensus rating of “Buy” and a consensus price target of $23.13.
Model N Company Profile
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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