Model N (MODN) Lowered to “Neutral” at J P Morgan Chase & Co

Model N (NYSE:MODN) was downgraded by equities research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $18.00 target price on the software maker’s stock. J P Morgan Chase & Co’s target price points to a potential upside of 13.92% from the company’s previous close.

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Model N from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 10th. Zacks Investment Research upgraded shares of Model N from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Monday, September 25th. Finally, ValuEngine upgraded shares of Model N from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $16.75.

Model N (NYSE:MODN) traded up $0.45 during midday trading on Tuesday, reaching $15.80. 207,694 shares of the company’s stock traded hands, compared to its average volume of 300,397. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.27. Model N has a 12 month low of $8.30 and a 12 month high of $16.75.

Model N (NYSE:MODN) last issued its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.03. The business had revenue of $35.61 million during the quarter, compared to the consensus estimate of $34.86 million. Model N had a negative net margin of 30.15% and a negative return on equity of 55.26%. The company’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.28) EPS. research analysts expect that Model N will post -0.64 EPS for the current fiscal year.

In related news, CFO David Barter sold 3,596 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $14.65, for a total value of $52,681.40. Following the completion of the sale, the chief financial officer now owns 111,676 shares in the company, valued at approximately $1,636,053.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alan S. Henricks sold 4,730 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $14.59, for a total transaction of $69,010.70. Following the completion of the sale, the director now owns 40,134 shares of the company’s stock, valued at approximately $585,555.06. The disclosure for this sale can be found here. Insiders have sold a total of 21,801 shares of company stock valued at $317,080 in the last 90 days. Insiders own 20.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Trexquant Investment LP purchased a new stake in Model N in the 3rd quarter valued at $154,000. Prudential Financial Inc. purchased a new stake in Model N in the 2nd quarter valued at $141,000. Voya Investment Management LLC raised its position in Model N by 14.7% in the 2nd quarter. Voya Investment Management LLC now owns 14,963 shares of the software maker’s stock valued at $199,000 after purchasing an additional 1,915 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Model N in the 2nd quarter valued at $221,000. Finally, Alliancebernstein L.P. purchased a new stake in Model N in the 2nd quarter valued at $222,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

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About Model N

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.

Analyst Recommendations for Model N (NYSE:MODN)

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