Manisha Shetty Gulati Sells 628 Shares of Model N, Inc. (NYSE:MODN) Stock

Posted by Defense World Staff on Jul 2nd, 2023

Model N, Inc. (NYSE:MODN – Free Report) Director Manisha Shetty Gulati sold 628 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $35.00, for a total transaction of $21,980.00. Following the sale, the director now directly owns 10,313 shares of the company’s stock, valued at approximately $360,955. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Model N Trading Down 0.2 %

NYSE:MODN opened at $35.36 on Friday. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 3.03. Model N, Inc. has a 12 month low of $24.20 and a 12 month high of $43.18. The company has a market cap of $1.35 billion, a PE ratio of -25.62 and a beta of 0.68. The company has a 50 day simple moving average of $31.70 and a two-hundred day simple moving average of $34.95.

Model N (NYSE:MODN – Free Report) last issued its quarterly earnings results on Tuesday, May 9th. The software maker reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $62.60 million for the quarter, compared to analysts’ expectations of $59.41 million. Model N had a negative net margin of 21.90% and a negative return on equity of 6.86%. Research analysts forecast that Model N, Inc. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in shares of Model N by 38.2% during the 1st quarter. Ameriprise Financial Inc. now owns 277,041 shares of the software maker’s stock worth $9,273,000 after acquiring an additional 76,609 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Model N by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 61,422 shares of the software maker’s stock worth $2,056,000 after acquiring an additional 5,853 shares during the last quarter. Castleark Management LLC boosted its stake in shares of Model N by 33.9% during the 1st quarter. Castleark Management LLC now owns 170,397 shares of the software maker’s stock worth $5,703,000 after acquiring an additional 43,094 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its stake in shares of Model N by 44.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 206,702 shares of the software maker’s stock valued at $6,918,000 after buying an additional 63,976 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Model N by 4.4% during the 1st quarter. State Street Corp now owns 777,411 shares of the software maker’s stock valued at $26,020,000 after buying an additional 32,945 shares in the last quarter.

Analyst Upgrades and Downgrades

MODN has been the subject of several analyst reports. Royal Bank of Canada initiated coverage on shares of Model N in a research report on Thursday, April 27th. They set a “sector perform” rating and a $35.00 price target for the company. Craig Hallum reduced their price target on shares of Model N from $45.00 to $38.00 in a research report on Wednesday, May 10th. Morgan Stanley initiated coverage on shares of Model N in a research report on Monday, March 27th. They set an “overweight” rating and a $43.00 price target for the company. 1-800-FLOWERS.COM reissued an “initiates” rating on shares of Model N in a research report on Thursday, April 27th. Finally, Robert W. Baird cut their target price on shares of Model N from $45.00 to $40.00 in a research report on Wednesday, May 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Model N has a consensus rating of “Moderate Buy” and an average target price of $43.38.

Model N Company Profile

(Free Report)

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 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.