Model N Inc. (NYSE:MODN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Model N, Inc. provides revenue management solutions for the life science and technology industries. It develops applications, such as managed care and government pricing for life science companies; and channel incentives based on design wins for technology companies. In addition, it offers implementation, managed, strategic, and customer support services. Model N, Inc. is headquartered in Redwood Shores, California. “
MODN has been the topic of several other research reports. Deutsche Bank AG restated a “buy” rating and issued a $16.00 target price (down previously from $18.00) on shares of Model N in a research report on Tuesday, August 9th. JMP Securities downgraded Model N from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 9th.
Model N (NYSE:MODN) opened at 10.63 on Tuesday. Model N has a 12 month low of $9.19 and a 12 month high of $13.98. The company’s market cap is $294.10 million. The firm has a 50-day moving average price of $10.78 and a 200 day moving average price of $11.65.
Model N (NYSE:MODN) last released its earnings results on Monday, August 8th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.04. The business had revenue of $27.90 million for the quarter, compared to the consensus estimate of $27.34 million. Model N had a negative return on equity of 37.01% and a negative net margin of 29.19%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. Equities research analysts predict that Model N will post ($0.66) EPS for the current year.
In related news, SVP Eric Carrasquilla sold 4,031 shares of Model N stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $10.61, for a total transaction of $42,768.91. Following the transaction, the senior vice president now owns 59,691 shares in the company, valued at $633,321.51. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 20.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in shares of Model N by 10.5% in the second quarter. Public Employees Retirement System of Ohio now owns 74,923 shares of the company’s stock worth $1,000,000 after buying an additional 7,100 shares during the last quarter. Redmile Group LLC increased its position in shares of Model N by 0.8% in the second quarter. Redmile Group LLC now owns 1,900,659 shares of the company’s stock worth $25,374,000 after buying an additional 15,300 shares during the last quarter. First Light Asset Management LLC bought a new position in shares of Model N during the second quarter worth approximately $5,302,000. Highbridge Capital Management LLC bought a new position in shares of Model N during the second quarter worth approximately $275,000. Finally, Penn Capital Management Co. Inc. increased its position in shares of Model N by 0.9% in the second quarter. Penn Capital Management Co. Inc. now owns 1,511,395 shares of the company’s stock worth $20,187,000 after buying an additional 13,151 shares during the last quarter. Hedge funds and other institutional investors own 67.47% of the company’s stock.
Model N Company Profile
Model N, Inc is a provider of revenue management cloud solutions for life science and technology companies. The Company’s solutions enable its customers to manage revenue compliance risk. The Company’s solutions include Revenue Enterprise Cloud, Revenue Intelligence Cloud and Revvy. The Company provides solutions that span the organizational and operational boundaries of functions, such as sales, marketing and finance, and serve as a system of record for revenue management processes, including pricing, contracts, rebates, incentives and regulatory compliance.
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