Model N, Inc. (MODN) Hits New 52-Week High at $13.85
Shares of Model N, Inc. (NYSE:MODN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $13.85 and last traded at $0.00, with a volume of shares changing hands.
Several brokerages have issued reports on MODN. Zacks Investment Research raised shares of Model N from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Monday, August 14th. BidaskClub downgraded shares of Model N from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. ValuEngine raised shares of Model N from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Dougherty & Co began coverage on shares of Model N in a research note on Thursday, June 29th. They set a “buy” rating and a $17.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Model N has a consensus rating of “Buy” and an average target price of $13.50.
The company’s market cap is $404.39 million. The company’s 50-day moving average is $13.31 and its 200-day moving average is $12.20.
Model N (NYSE:MODN) last issued its quarterly earnings data on Tuesday, August 8th. The software maker reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. Model N had a negative net margin of 30.85% and a negative return on equity of 52.59%. The business had revenue of $34.20 million for the quarter, compared to analyst estimates of $34.41 million. During the same period last year, the business posted ($0.16) earnings per share. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. On average, equities analysts predict that Model N, Inc. will post ($0.62) earnings per share for the current year.
In related news, SVP Amelia Generalis sold 3,758 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $13.30, for a total transaction of $49,981.40. Following the sale, the senior vice president now directly owns 76,734 shares in the company, valued at $1,020,562.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 20.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Redmile Group LLC increased its stake in Model N by 4.4% in the 2nd quarter. Redmile Group LLC now owns 858,314 shares of the software maker’s stock valued at $11,416,000 after buying an additional 36,000 shares during the last quarter. State Street Corp increased its stake in Model N by 4.7% in the 2nd quarter. State Street Corp now owns 372,302 shares of the software maker’s stock valued at $4,953,000 after buying an additional 16,720 shares during the last quarter. Lyon Street Capital LLC acquired a new stake in Model N in the 2nd quarter valued at $3,594,000. Goldman Sachs Group Inc. acquired a new stake in Model N in the 2nd quarter valued at $221,000. Finally, First Light Asset Management LLC increased its stake in Model N by 0.6% in the 2nd quarter. First Light Asset Management LLC now owns 423,211 shares of the software maker’s stock valued at $5,629,000 after buying an additional 2,461 shares during the last quarter. Hedge funds and other institutional investors own 65.87% of the company’s stock.
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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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