Model N Inc (NYSE:MODN) CEO Jason Blessing sold 4,326 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $26.12, for a total transaction of $112,995.12. Following the sale, the chief executive officer now owns 357,858 shares of the company’s stock, valued at $9,347,250.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
NYSE MODN traded up $0.54 during trading on Friday, hitting $26.16. The company had a trading volume of 586,300 shares, compared to its average volume of 408,632. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.85. Model N Inc has a one year low of $12.60 and a one year high of $26.84. The company’s fifty day moving average is $21.84 and its 200-day moving average is $18.79.
Model N (NYSE:MODN) last issued its quarterly earnings data on Tuesday, August 6th. The software maker reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. Model N had a negative net margin of 12.21% and a negative return on equity of 27.17%. The business had revenue of $34.71 million during the quarter, compared to analyst estimates of $34.16 million. During the same period in the prior year, the business earned ($0.07) EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. Equities analysts expect that Model N Inc will post -0.32 earnings per share for the current year.
MODN has been the subject of a number of recent analyst reports. Needham & Company LLC upgraded shares of 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, August 7th. National Securities reiterated a “buy” rating on shares of Model N in a report on Wednesday, May 8th. 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. JPMorgan Chase & Co. upped their price target on shares of Model N from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, JMP Securities upped their price target on shares of Model N to $29.00 and gave the company a “positive” rating in a report on Wednesday, August 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Model N has a consensus rating of “Buy” and a consensus target price of $23.13.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd grew its position in shares of Model N by 216.5% in the 2nd quarter. Altshuler Shaham Ltd now owns 1,459 shares of the software maker’s stock worth $28,000 after buying an additional 998 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Model N in the 2nd quarter worth about $40,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Model N by 68.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the software maker’s stock worth $43,000 after buying an additional 896 shares during the period. Aperio Group LLC purchased a new stake in shares of Model N in the 2nd quarter worth about $47,000. Finally, Bank of Montreal Can grew its position in shares of Model N by 119.4% in the 2nd quarter. Bank of Montreal Can now owns 4,973 shares of the software maker’s stock worth $97,000 after buying an additional 2,706 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.
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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