Morgan Stanley Reaffirms Equal Weight Rating for Model N (NYSE:MODN)

Model N (NYSE:MODN - Get Free Report)'s stock had its "equal weight" rating reiterated by investment analysts at Morgan Stanley in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $30.00 price objective on the software maker's stock, down from their previous price objective of $37.00. Morgan Stanley's price target would suggest a potential upside of 1.11% from the stock's previous close.

Several other research analysts have also weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of Model N in a report on Tuesday. Craig Hallum reiterated a "hold" rating and set a $30.00 target price on shares of Model N in a report on Tuesday. Robert W. Baird reissued a "neutral" rating and issued a $30.00 price target on shares of Model N in a research note on Monday. JMP Securities reissued a "market perform" rating on shares of Model N in a research note on Tuesday. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $30.00 price target on shares of Model N in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $31.80.

Model N Trading Down 0.1 %

Shares of NYSE:MODN traded down $0.03 during midday trading on Wednesday, hitting $29.67. The company had a trading volume of 4,243,376 shares, compared to its average volume of 499,362. Model N has a 12 month low of $20.90 and a 12 month high of $35.96. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 2.26. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -35.36 and a beta of 0.70. The firm has a fifty day simple moving average of $26.38 and a 200 day simple moving average of $25.38.

Model N (NYSE:MODN - Get Free Report) last posted its earnings results on Tuesday, February 6th. The software maker reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $63.49 million for the quarter, compared to the consensus estimate of $62.12 million. Model N had a positive return on equity of 5.79% and a negative net margin of 12.48%. On average, analysts predict that Model N will post 0.2 EPS for the current year.

Insider Buying and Selling at Model N

In other Model N news, CEO Jason Blessing sold 27,446 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.38, for a total value of $724,025.48. Following the sale, the chief executive officer now owns 903,451 shares in the company, valued at $23,833,037.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Dave Yarnold sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $26.88, for a total transaction of $134,400.00. Following the sale, the director now owns 22,012 shares of the company's stock, valued at $591,682.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason Blessing sold 27,446 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.38, for a total value of $724,025.48. Following the sale, the chief executive officer now directly owns 903,451 shares in the company, valued at approximately $23,833,037.38. The disclosure for this sale can be found here. Insiders have sold 72,616 shares of company stock worth $1,897,243 over the last 90 days. Company insiders own 2.55% of the company's stock.

Institutional Investors Weigh In On Model N

A number of large investors have recently added to or reduced their stakes in MODN. Raymond James & Associates grew its position in Model N by 28.2% during the first quarter. Raymond James & Associates now owns 30,345 shares of the software maker's stock worth $816,000 after buying an additional 6,676 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Model N by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 138,478 shares of the software maker's stock valued at $3,725,000 after buying an additional 2,363 shares in the last quarter. US Bancorp DE boosted its stake in Model N by 46.6% in the first quarter. US Bancorp DE now owns 19,375 shares of the software maker's stock valued at $521,000 after buying an additional 6,156 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Model N by 13.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,080 shares of the software maker's stock valued at $136,000 after acquiring an additional 588 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Model N by 61.2% in the first quarter. MetLife Investment Management LLC now owns 18,585 shares of the software maker's stock worth $500,000 after acquiring an additional 7,054 shares during the last quarter.

Model N Company Profile

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies in the United States and internationally. The company offers Global Pricing Management, which minimizes price erosion of products; Global Tender Management that enhances revenue by enabling segmentation and targeting, optimal bid pricing, and post-award tracking; Provider Management, which minimizes rebate overpayments; Payer Management that minimizes revenue leakage and noncompliance of complex contracts; Government Pricing, which optimizes revenue, and reduces the risk of fines and other penalties; and Medicaid that enhances compliance with regulatory requirements and payments of rebate claims on a timely basis and at correct rates for government Medicaid programs, as well as Validata, State Pricing Transparency Management, Advanced Membership Management, and Intelligence Cloud.