Model N (NYSE:MODN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Model N is a provider of revenue management solutions for life sciences and technology companies. The successful integration of Revitas boosted Model N’s performance as well as its customer base. Management is also optimistic about the steady progress in the company’s transformation to a 100% Software-as-a-Service (SaaS) based model. Model N has outperformed the industry in the last one year. The Revenue Cloud offering for med-tech, pharma and high tech companies is also gaining traction, driving expansion in customer base. Moreover, the transition to cloud-based applications will drive recurring revenue growth in the long term. However, the company is facing stiff competition as evident from inconsistent revenue growth.”

A number of other equities research analysts have also recently weighed in on the company. Dougherty & Co raised their price target on Model N from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. JPMorgan Chase & Co. cut Model N from an “overweight” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Tuesday, December 12th. Raymond James Financial reaffirmed a “hold” rating on shares of Model N in a report on Monday, December 4th. Finally, BidaskClub cut Model N from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.00.

Model N (NYSE MODN) traded down $0.05 during mid-day trading on Tuesday, reaching $15.55. The company had a trading volume of 105,900 shares, compared to its average volume of 120,540. Model N has a 12-month low of $8.45 and a 12-month high of $16.75. The firm has a market cap of $454.61, a PE ratio of -11.27 and a beta of 1.17. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.13 and a quick ratio of 1.13.

Model N (NYSE:MODN) last released its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. Model N had a negative return on equity of 55.26% and a negative net margin of 30.15%. The firm had revenue of $35.61 million during the quarter, compared to analysts’ expectations of $34.86 million. During the same period last year, the firm posted ($0.28) EPS. The business’s revenue was up 24.9% on a year-over-year basis. equities research analysts forecast that Model N will post -0.64 earnings per share for the current year.

In other Model N news, Director Alan S. Henricks sold 4,730 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $14.59, for a total value of $69,010.70. Following the transaction, the director now directly owns 40,134 shares in the company, valued at approximately $585,555.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Barter sold 3,596 shares of the 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 transaction, the chief financial officer now owns 111,676 shares in the company, valued at $1,636,053.40. 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 over the last ninety days. Insiders own 18.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Model N by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 25,302 shares of the software maker’s stock worth $337,000 after purchasing an additional 905 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Model N by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 80,185 shares of the software maker’s stock worth $1,066,000 after purchasing an additional 923 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Model N by 14.7% in the 2nd quarter. Voya Investment Management LLC now owns 14,963 shares of the software maker’s stock worth $199,000 after purchasing an additional 1,915 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of 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 worth $5,629,000 after purchasing an additional 2,461 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Model N by 2.9% in the 2nd quarter. New York State Common Retirement Fund now owns 216,062 shares of the software maker’s stock worth $2,874,000 after purchasing an additional 6,099 shares during the last quarter. Hedge funds and other institutional investors own 65.77% 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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