Model N (NYSE:MODN) Sees Large Volume Increase

Model N, Inc. (NYSE:MODN) shares saw unusually-strong trading volume on Thursday . Approximately 2,528,831 shares changed hands during trading, an increase of 320% from the previous session’s volume of 601,881 shares.The stock last traded at $29.95 and had previously closed at $29.92.

Analysts Set New Price Targets

Several equities analysts recently commented on MODN shares. Craig Hallum reiterated a “hold” rating and set a $30.00 target price on shares of Model N in a research note on Tuesday, April 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 price target on shares of Model N in a report on Tuesday, April 9th. Robert W. Baird reissued a “neutral” rating and issued a $30.00 price target on shares of Model N in a report on Monday, April 8th. Morgan Stanley reissued an “equal weight” rating and issued a $30.00 price target (down previously from $37.00) on shares of Model N in a report on Wednesday, April 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Model N in a report on Tuesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $31.80.

Model N Stock Performance

The business’s fifty day simple moving average is $29.80 and its 200 day simple moving average is $27.50. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 2.05.

Model N (NYSE:MODN) last issued its quarterly earnings data on Monday, May 6th. The software maker reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Model N had a return on equity of 6.94% and a net margin of 0.10%. The company had revenue of $65.10 million for the quarter, compared to the consensus estimate of $64.45 million. During the same period in the prior year, the company earned ($0.05) EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Analysts expect that Model N, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Model N

In other Model N news, CRO Christopher Lyon sold 6,753 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $29.84, for a total transaction of $201,509.52. Following the transaction, the executive now directly owns 214,182 shares in the company, valued at approximately $6,391,190.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Jason Blessing sold 20,179 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $29.79, for a total value of $601,132.41. Following the sale, the chief executive officer now directly owns 884,172 shares in the company, valued at approximately $26,339,483.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher Lyon sold 6,753 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $29.84, for a total transaction of $201,509.52. Following the completion of the sale, the executive now owns 214,182 shares in the company, valued at $6,391,190.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,870 shares of company stock worth $1,545,545. Company insiders own 2.55% of the company’s stock.

Institutional Trading of Model N

Hedge funds have recently modified their holdings of the company. C M Bidwell & Associates Ltd. bought a new stake in Model N during the 3rd quarter worth approximately $34,000. International Assets Investment Management LLC increased its stake in Model N by 1,594.0% during the 4th quarter. International Assets Investment Management LLC now owns 2,558 shares of the software maker’s stock worth $69,000 after purchasing an additional 2,407 shares in the last quarter. EntryPoint Capital LLC increased its stake in Model N by 24.8% during the 1st quarter. EntryPoint Capital LLC now owns 3,723 shares of the software maker’s stock worth $106,000 after purchasing an additional 741 shares in the last quarter. SG Americas Securities LLC bought a new stake in Model N during the 4th quarter worth approximately $115,000. Finally, Hardy Reed LLC bought a new position in shares of Model N during the 1st quarter worth approximately $219,000.

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.