N-able appoints new Chief Accounting Officer

N-able, Inc., a provider of prepackaged software services with an impressive 83.45% gross profit margin and annual revenue of $466 million, announced the appointment of Christopher Stagno as the company’s new Group Vice President and Chief Accounting Officer. The appointment, effective April 21, 2025, was confirmed by the company’s Board of Directors on Monday. According to InvestingPro data, the company maintains a Fair financial health rating with consistent revenue growth of 10.49% over the last twelve months.

Stagno, 50, brings extensive experience in financial management within the technology sector. He joins N-able, currently valued at $1.35 billion, after his recent tenure at Aspen Technology (NASDAQ:AZPN), Inc., where he served as Senior Vice President and Chief Accounting Officer until its acquisition by Emerson (NYSE:EMR) Electric Co. this March. He also stepped in as AspenTech’s Interim Chief Financial Officer for a period in 2024. Stagno’s professional background includes roles at Cognex (NASDAQ:CGNX) Corporation and Brightcove Inc., as well as his early career at PricewaterhouseCoopers LLP. The stock has faced challenges recently, declining 43.42% over the past six months, and currently trades at a P/E ratio of 45.94x.

Under the terms of his employment offer, Stagno will receive an annual base salary of $315,000 and is eligible for a target bonus of 55% of his base salary. Subject to Compensation Committee approval, he will be granted 25,615 Restricted Stock Units (RSUs) and 25,614 Performance Share Units (PSUs) as part of his sign-on package under the N-able, Inc. 2021 Equity Incentive Plan. The RSUs and PSUs are subject to vesting conditions based on service and performance metrics.

In the event of a termination without cause or within 12 months of a change of control, Stagno is entitled to severance benefits including a lump-sum payment, unpaid incentive compensation, healthcare premium reimbursements, and accelerated vesting of equity awards.

Stagno will report directly to Tim O’Brien, N-able’s Chief Financial Officer, who previously held the dual roles of Principal Accounting Officer and Principal Financial (NASDAQ:PFG) Officer and will continue as the company’s Principal Financial Officer.

This executive change is part of the company’s ongoing strategy to strengthen its leadership team. N-able has not disclosed any related party transactions involving Stagno that would require reporting under SEC regulations. For a deeper understanding of N-able’s financial health, valuation metrics, and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with detailed analysis and actionable insights.

The information was obtained from a recent SEC filing by N-able, Inc. The company trades on the New York Stock Exchange under the ticker symbol (NYSE:NABL).

In other recent news, N-able, Inc. announced a strategic partnership with Rewst to automate IT workflows, aiming to enhance the operational efficiency of IT service providers. This collaboration is part of N-able’s Technology Alliance Program and is expected to streamline various processes, including user onboarding and backup monitoring. Additionally, N-able has initiated a $75 million stock repurchase program, reflecting the company’s confidence in its strategic direction and value proposition for shareholders. The program provides flexibility in capital allocation and aligns with the company’s long-term growth strategy.

On the financial front, Scotiabank (TSX:BNS) analyst Joe Vandrick recently adjusted N-able’s stock price target to $9.00, maintaining a Sector Perform rating, following insights from the company’s investor day. However, earlier, the same analyst had reduced the target to $8.75 after N-able’s fourth-quarter results, citing concerns over the company’s 2025 revenue and EBITDA guidance. Similarly, BMO Capital Markets lowered its price target for N-able to $8.50, maintaining a Market Perform rating, due to a less robust future revenue and adjusted EBITDA margin forecast.

These developments highlight N-able’s ongoing strategic initiatives and the mixed analyst sentiment regarding its financial outlook. The company’s efforts to expand through partnerships and share repurchases are juxtaposed with the need for sustained revenue growth and market execution. As N-able navigates these challenges, investors will be closely monitoring its progress and the impact of its strategic moves on financial performance.

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