Model N (NYSE:MODN) Stock Passes Below 200 Day Moving Average of $25.99

Shares of Model N, Inc. (NYSE:MODNGet Rating) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.99 and traded as low as $24.65. Model N shares last traded at $24.99, with a volume of 129,832 shares changing hands.

Several equities analysts recently commented on the stock. StockNews.com raised shares of Model N from a “hold” rating to a “buy” rating in a report on Monday, May 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 target price on shares of Model N in a report on Friday, March 25th. BTIG Research cut their price target on shares of Model N from $48.00 to $38.00 in a report on Wednesday, May 11th. Finally, Craig Hallum cut their price target on shares of Model N from $39.00 to $29.00 in a report on Wednesday, May 11th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $36.80.

The business’s fifty day simple moving average is $24.38 and its 200-day simple moving average is $25.99. The firm has a market cap of $920.23 million, a P/E ratio of -32.04 and a beta of 0.94. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.98.

Model N (NYSE:MODNGet Rating) last announced its earnings results on Tuesday, May 10th. The software maker reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The firm had revenue of $53.30 million for the quarter, compared to analyst estimates of $51.23 million. Model N had a negative net margin of 13.60% and a negative return on equity of 7.58%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) EPS. Analysts anticipate that Model N, Inc. will post -0.3 earnings per share for the current year.

In related news, insider Mark Albert Anderson sold 5,962 shares of Model N stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $22.76, for a total transaction of $135,695.12. Following the completion of the transaction, the insider now directly owns 183,745 shares of the company’s stock, valued at approximately $4,182,036.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jason Blessing sold 12,365 shares of Model N stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $23.61, for a total transaction of $291,937.65. Following the transaction, the chief executive officer now directly owns 576,168 shares of the company’s stock, valued at $13,603,326.48. The disclosure for this sale can be found here. Insiders have sold a total of 24,166 shares of company stock worth $565,492 in the last ninety days. Insiders own 2.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of MODN. Conestoga Capital Advisors LLC raised its holdings in Model N by 27.5% in the fourth quarter. Conestoga Capital Advisors LLC now owns 4,943,592 shares of the software maker’s stock worth $148,456,000 after buying an additional 1,067,495 shares during the last quarter. Millennium Management LLC raised its holdings in Model N by 951.8% in the third quarter. Millennium Management LLC now owns 304,219 shares of the software maker’s stock worth $10,191,000 after buying an additional 275,294 shares during the last quarter. Riverbridge Partners LLC raised its holdings in Model N by 14.2% in the first quarter. Riverbridge Partners LLC now owns 1,504,132 shares of the software maker’s stock worth $40,461,000 after buying an additional 187,360 shares during the last quarter. Bares Capital Management Inc. raised its holdings in Model N by 39.3% in the fourth quarter. Bares Capital Management Inc. now owns 567,000 shares of the software maker’s stock worth $17,027,000 after buying an additional 160,000 shares during the last quarter. Finally, First Light Asset Management LLC raised its holdings in Model N by 6.2% in the first quarter. First Light Asset Management LLC now owns 2,707,143 shares of the software maker’s stock worth $72,822,000 after buying an additional 159,213 shares during the last quarter. 96.26% of the stock is owned by institutional investors and hedge funds.

About Model N (NYSE:MODN)

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies. 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 timely, as well as at correct rates for government medicaid programs.

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