Model N (MODN) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

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Model N (NYSE:MODN) posted its quarterly earnings results on Tuesday. The software maker reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.05, Morningstar.com reports. The business had revenue of $36.70 million for the quarter, compared to analyst estimates of $35.49 million. Model N had a negative return on equity of 61.62% and a negative net margin of 21.89%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS.

MODN traded down $1.53 during trading on Wednesday, reaching $13.42. 939,676 shares of the company were exchanged, compared to its average volume of 231,766. The company has a market cap of $472.51 million, a P/E ratio of -16.17 and a beta of 0.77. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.18. Model N has a 52 week low of $12.60 and a 52 week high of $20.33.

A number of institutional investors and hedge funds have recently modified their holdings of MODN. Barclays PLC grew its stake in Model N by 153.5% during the 1st quarter. Barclays PLC now owns 9,550 shares of the software maker’s stock worth $171,000 after buying an additional 5,783 shares during the last quarter. Macquarie Group Ltd. bought a new position in Model N during the 2nd quarter worth $361,000. Mesirow Financial Investment Management Inc. bought a new position in Model N during the 2nd quarter worth $372,000. Engineers Gate Manager LP grew its stake in Model N by 31.1% during the 2nd quarter. Engineers Gate Manager LP now owns 22,223 shares of the software maker’s stock worth $413,000 after buying an additional 5,276 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Model N by 20.6% during the 2nd quarter. Rhumbline Advisers now owns 24,854 shares of the software maker’s stock worth $462,000 after buying an additional 4,238 shares during the last quarter. Hedge funds and other institutional investors own 71.47% of the company’s stock.

Several research firms recently issued reports on MODN. Needham & Company LLC lowered Model N from a “buy” rating to a “hold” rating in a research report on Wednesday. Craig Hallum restated a “buy” rating and set a $20.00 price objective (down from $25.00) on shares of Model N in a research note on Wednesday. Zacks Investment Research downgraded Model N from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. CIBC started coverage on Model N in a research note on Friday, October 19th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on Model N to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Model N presently has a consensus rating of “Buy” and an average price target of $22.29.

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About Model N

Model N, Inc provides revenue management cloud solutions for the life sciences, technology, and manufacturing companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, Revenue Cloud for High Tech, and Revenue Cloud. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.

See Also: Average Daily Trade Volume – ADTV

Earnings History for Model N (NYSE:MODN)

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