Model N (NYSE:MODN) Upgraded 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 Friday, January 5th. The firm presently has a $18.00 price objective on the software maker’s stock. Zacks Investment Research‘s target price points to a potential upside of 18.42% from the stock’s current price.

According to Zacks, “Model N is a provider of revenue management solutions for life sciences and technology companies. The successful integration of Revitas boosted Model N’s performance as well as its customer base. Management is also optimistic about the steady progress in the company’s transformation to a 100% Software-as-a-Service (SaaS) based model. Model N has outperformed the industry in the last one year. 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. However, the company is facing stiff competition as evident from inconsistent revenue growth.”

Other research analysts also recently issued reports about the stock. Dougherty & Co boosted their price objective on shares of Model N from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. BidaskClub downgraded shares of Model N from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 10th. Raymond James Financial reiterated a “hold” rating on shares of Model N in a report on Monday, December 4th. Finally, JPMorgan Chase & Co. downgraded shares of Model N from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Tuesday, December 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.00.

Shares of Model N (MODN) traded down $0.25 during trading hours on Friday, hitting $15.20. The stock had a trading volume of 227,013 shares, compared to its average volume of 120,780. Model N has a 12 month low of $8.45 and a 12 month high of $16.75. The company has a market capitalization of $455.37, a PE ratio of -11.01 and a beta of 1.17. 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 (NYSE:MODN) last released its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Model N had a negative net margin of 25.34% and a negative return on equity of 83.74%. The company had revenue of $35.61 million during the quarter, compared to the consensus estimate of $34.86 million. During the same period in the previous year, the business earned ($0.28) earnings per share. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. analysts forecast that Model N will post -0.64 earnings per share 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 sale, the director now owns 40,134 shares of the company’s stock, valued at $585,555.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Barter sold 3,596 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $14.65, for a total transaction of $52,681.40. Following the sale, the chief financial officer now directly owns 111,676 shares in the company, valued at approximately $1,636,053.40. The disclosure for this sale can be found here. In the last three months, insiders sold 21,801 shares of company stock worth $317,080. 18.90% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its position in shares of Model N by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 25,302 shares of the software maker’s stock worth $337,000 after purchasing an additional 905 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Model N by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 80,185 shares of the software maker’s stock worth $1,066,000 after purchasing an additional 923 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Model N by 14.7% during the 2nd quarter. Voya Investment Management LLC now owns 14,963 shares of the software maker’s stock worth $199,000 after purchasing an additional 1,915 shares in the last quarter. First Light Asset Management LLC boosted its position in shares of Model N by 0.6% during the 2nd quarter. First Light Asset Management LLC now owns 423,211 shares of the software maker’s stock worth $5,629,000 after purchasing an additional 2,461 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Model N by 9.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 50,261 shares of the software maker’s stock worth $792,000 after purchasing an additional 4,461 shares in the last quarter. 65.47% of the stock is currently owned by institutional investors and hedge funds.

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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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