Model N Inc (NYSE:MODN) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 627,600 shares, a drop of 12.5% from the July 31st total of 717,100 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average daily volume of 305,400 shares, the days-to-cover ratio is presently 2.1 days.
Shares of NYSE:MODN traded up $0.56 during trading on Thursday, reaching $27.77. The stock had a trading volume of 8,541 shares, compared to its average volume of 247,524. Model N has a one year low of $12.60 and a one year high of $29.26. The company has a market capitalization of $905.13 million, a P/E ratio of -38.07 and a beta of 0.49. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.85. The firm’s 50-day simple moving average is $25.76 and its 200 day simple moving average is $20.24.
Model N (NYSE:MODN) last released its quarterly earnings results on Tuesday, August 6th. The software maker reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Model N had a negative net margin of 12.21% and a negative return on equity of 27.17%. The business had revenue of $34.71 million for the quarter, compared to analysts’ expectations of $34.16 million. During the same period last year, the business earned ($0.07) EPS. The company’s revenue was down 12.4% compared to the same quarter last year. Equities research analysts forecast that Model N will post -0.32 earnings per share for the current fiscal year.
In other Model N news, SVP Mark Albert Anderson sold 2,600 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.26, for a total transaction of $70,876.00. Following the completion of the transaction, the senior vice president now owns 128,125 shares in the company, valued at $3,492,687.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Barter sold 1,522 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $26.12, for a total transaction of $39,754.64. Following the transaction, the chief financial officer now owns 176,862 shares of the company’s stock, valued at approximately $4,619,635.44. The disclosure for this sale can be found here. Insiders have sold 8,998 shares of company stock valued at $237,992 in the last quarter. 1.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MODN. BNP Paribas Arbitrage SA lifted its stake in shares of Model N by 7,886.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,431 shares of the software maker’s stock valued at $95,000 after purchasing an additional 5,363 shares in the last quarter. Boston Partners increased its stake in shares of Model N by 1.3% in the first quarter. Boston Partners now owns 102,144 shares of the software maker’s stock worth $1,792,000 after purchasing an additional 1,322 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Model N by 4.6% in the first quarter. Frontier Capital Management Co. LLC now owns 1,017,873 shares of the software maker’s stock worth $17,853,000 after purchasing an additional 44,993 shares in the last quarter. Spark Investment Management LLC increased its stake in shares of Model N by 461.8% in the first quarter. Spark Investment Management LLC now owns 123,600 shares of the software maker’s stock worth $2,167,000 after purchasing an additional 101,600 shares in the last quarter. Finally, Crown Advisors Management Inc. purchased a new stake in shares of Model N in the first quarter worth $1,754,000. 78.69% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on MODN shares. Chardan Capital restated a “buy” rating and issued a $23.00 target price on shares of Model N in a report on Monday, May 20th. JMP Securities raised their target price on shares of Model N to $29.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised their target price on shares of Model N from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Needham & Company LLC upgraded shares of Model N from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.13.
Model N Company Profile
Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.
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