Model N (NYSE:MODN) Sees Large Volume Increase

Model N, Inc. (NYSE:MODN) saw unusually-strong trading volume on Thursday . Approximately 2,528,831 shares traded 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.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MODN shares. Craig Hallum reaffirmed a “hold” rating and set a $30.00 target price on shares of Model N in a research note on Tuesday, April 9th. StockNews.com initiated coverage on Model N in a report on Friday. They set a “hold” rating for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $30.00 target price on shares of Model N in a report on Tuesday, April 9th. Needham & Company LLC restated a “hold” rating on shares of Model N in a report on Tuesday, May 7th. Finally, JMP Securities restated a “market perform” rating on shares of Model N in a report on Monday, May 6th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Model N presently has an average rating of “Hold” and an average price target of $31.80.

Model N Trading Up 0.1 %

The firm has a fifty day moving average price of $29.80 and a 200 day moving average price of $27.56. The company has a debt-to-equity ratio of 2.05, a quick ratio of 3.86 and a current ratio of 3.86.

Model N (NYSE:MODN) last posted its quarterly earnings results on Monday, May 6th. The software maker reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). The firm had revenue of $65.10 million during the quarter, compared to the consensus estimate of $64.45 million. Model N had a net margin of 0.10% and a return on equity of 6.94%. Model N’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) EPS. As a group, equities analysts predict that Model N, Inc. will post 0.18 EPS for the current year.

Insiders Place Their Bets

In other Model N news, CRO Christopher Lyon sold 8,786 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $29.79, for a total transaction of $261,734.94. Following the transaction, the executive now owns 220,935 shares in the company, valued at $6,581,653.65. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CRO Christopher Lyon sold 8,786 shares of Model N stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $29.79, for a total value of $261,734.94. Following the sale, the executive now owns 220,935 shares of the company’s stock, valued at approximately $6,581,653.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jason Blessing sold 20,179 shares of Model N 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 completion of the sale, the chief executive officer now directly owns 884,172 shares in the company, valued at approximately $26,339,483.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,870 shares of company stock worth $1,545,545. Insiders own 2.55% of the company’s stock.

Institutional Investors Weigh In On Model N

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its position in shares of Model N by 2.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,865 shares of the software maker’s stock worth $395,000 after purchasing an additional 355 shares during the last quarter. Gagnon Securities LLC boosted its stake in shares of Model N by 8.7% during the 1st quarter. Gagnon Securities LLC now owns 8,425 shares of the software maker’s stock worth $240,000 after acquiring an additional 677 shares during the period. EntryPoint Capital LLC boosted its stake in shares of 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 acquiring an additional 741 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Model N by 6.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,130 shares of the software maker’s stock worth $461,000 after acquiring an additional 1,043 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Model N by 14.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,235 shares of the software maker’s stock worth $249,000 after acquiring an additional 1,181 shares during the period.

About Model N

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.