Model N, Inc. (NYSE:MODN) CMO Sells $115,526.37 in Stock

Model N, Inc. (NYSE:MODN) CMO Dave Michaud sold 3,671 shares of the stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $31.47, for a total transaction of $115,526.37. Following the completion of the transaction, the chief marketing officer now owns 40,105 shares of the company’s stock, valued at $1,262,104.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of NYSE:MODN opened at $31.83 on Friday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -67.72 and a beta of 1.08. Model N, Inc. has a 1-year low of $15.00 and a 1-year high of $44.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.31 and a current ratio of 3.31. The company has a 50 day moving average price of $34.91 and a 200 day moving average price of $35.03.

Model N (NYSE:MODN) last issued its quarterly earnings results on Tuesday, November 10th. The software maker reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The business had revenue of $41.50 million during the quarter, compared to the consensus estimate of $40.51 million. Model N had a negative net margin of 10.03% and a negative return on equity of 13.21%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. On average, sell-side analysts expect that Model N, Inc. will post -0.22 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC lifted its position in Model N by 25.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,537,068 shares of the software maker’s stock worth $88,189,000 after buying an additional 507,697 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in Model N by 39.6% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,827,360 shares of the software maker’s stock worth $64,469,000 after buying an additional 518,440 shares in the last quarter. Vanguard Group Inc. lifted its position in Model N by 8.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,782,941 shares of the software maker’s stock worth $61,977,000 after buying an additional 144,952 shares in the last quarter. First Light Asset Management LLC lifted its position in Model N by 1.3% in the 2nd quarter. First Light Asset Management LLC now owns 938,288 shares of the software maker’s stock worth $32,615,000 after buying an additional 12,367 shares in the last quarter. Finally, Emerald Advisers LLC lifted its position in Model N by 34.0% in the 2nd quarter. Emerald Advisers LLC now owns 823,057 shares of the software maker’s stock worth $28,609,000 after buying an additional 208,845 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

Several research analysts have recently issued reports on MODN shares. TheStreet upgraded shares of Model N from a “d+” rating to a “c” rating in a report on Monday, August 17th. Craig Hallum cut shares of Model N from a “buy” rating to a “hold” rating and decreased their price objective for the company from $49.50 to $38.00 in a report on Wednesday, November 11th. Finally, Needham & Company LLC decreased their price objective on shares of Model N from $48.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, November 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $34.14.

About Model N

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, Revenue Cloud for High-Tech Manufacturing, and Revenue Cloud for Semiconductors and Components.

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