Model N (NYSE:MODN) Price Target Raised to $36.00

Model N (NYSE:MODN) had its price target upped by JMP Securities from $29.00 to $36.00 in a research note released on Wednesday, Stock Target Advisor reports. The brokerage currently has a market outperform rating on the software maker’s stock.

A number of other equities analysts also recently issued reports on MODN. Dougherty & Co increased their price target on shares of Model N from $26.00 to $32.00 and gave the stock a buy rating in a research note on Monday, September 23rd. Needham & Company LLC reissued a buy rating and issued a $34.00 price target on shares of Model N in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Model N from $21.00 to $25.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. Finally, ValuEngine downgraded shares of Model N from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $27.00.

MODN stock traded up $0.57 during trading on Wednesday, reaching $30.16. The company had a trading volume of 188,914 shares, compared to its average volume of 253,866. Model N has a 52 week low of $12.98 and a 52 week high of $32.00. The company has a market cap of $962.70 million, a P/E ratio of -70.14 and a beta of 0.52. The business has a 50 day moving average of $28.44 and a 200 day moving average of $23.42. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.33 and a quick ratio of 1.33.

Model N (NYSE:MODN) last released its quarterly earnings results on Tuesday, November 5th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.15. Model N had a negative net margin of 13.66% and a negative return on equity of 29.70%. The company had revenue of $36.60 million during the quarter, compared to the consensus estimate of $35.72 million. During the same period in the prior year, the firm earned $0.06 earnings per share. Model N’s revenue was down .3% on a year-over-year basis. Research analysts expect that Model N will post -0.19 earnings per share for the current year.

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In other Model N news, SVP Mark Albert Anderson sold 2,600 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.26, for a total value of $70,876.00. Following the sale, the senior vice president now owns 128,125 shares in the company, valued at $3,492,687.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David Barter sold 1,522 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $26.12, for a total transaction of $39,754.64. Following the completion of the sale, the chief financial officer now owns 176,862 shares in the company, valued at approximately $4,619,635.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,998 shares of company stock worth $237,992. Corporate insiders own 1.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its holdings in Model N by 1,192.6% in the third quarter. SG Americas Securities LLC now owns 94,137 shares of the software maker’s stock worth $2,613,000 after purchasing an additional 86,854 shares during the period. Mackay Shields LLC purchased a new stake in shares of Model N during the third quarter valued at approximately $366,000. Synovus Financial Corp purchased a new stake in shares of Model N during the third quarter valued at approximately $525,000. Russell Investments Group Ltd. grew its holdings in shares of Model N by 378.9% during the third quarter. Russell Investments Group Ltd. now owns 133,621 shares of the software maker’s stock valued at $3,707,000 after buying an additional 105,721 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Model N by 45.1% during the third quarter. California Public Employees Retirement System now owns 60,096 shares of the software maker’s stock valued at $1,668,000 after buying an additional 18,687 shares during the last quarter. Institutional investors and hedge funds own 77.87% of the company’s stock.

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, 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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