King Luther Capital Management Corp Reduces Position in Model N, Inc. (NYSE:MODN)

King Luther Capital Management Corp lessened its position in shares of Model N, Inc. (NYSE:MODN) by 8.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 113,776 shares of the software maker’s stock after selling 10,500 shares during the quarter. King Luther Capital Management Corp’s holdings in Model N were worth $3,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC lifted its position in Model N by 15.3% during the 4th quarter. Conestoga Capital Advisors LLC now owns 3,824,894 shares of the software maker’s stock worth $103,004,000 after acquiring an additional 507,090 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Model N by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,644,961 shares of the software maker’s stock valued at $64,563,000 after buying an additional 128,461 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in Model N by 70.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 44,400 shares of the software maker’s stock worth $1,084,000 after purchasing an additional 18,400 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Model N during the fourth quarter worth $7,964,000. Finally, Artisan Partners Limited Partnership increased its position in Model N by 14.6% during the third quarter. Artisan Partners Limited Partnership now owns 3,310,207 shares of the software maker’s stock worth $80,802,000 after buying an additional 421,952 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MODN shares. Craig Hallum reissued a “hold” rating and set a $30.00 price target on shares of Model N in a research report on Tuesday, April 9th. Needham & Company LLC reissued a “hold” rating on shares of Model N in a research report on Tuesday, May 7th. StockNews.com started coverage on Model N in a research report on Monday. They set a “hold” rating for the company. Morgan Stanley reissued an “equal weight” rating and set a $30.00 price target (down previously from $37.00) on shares of Model N in a research report on Wednesday, April 10th. Finally, Robert W. Baird reissued a “neutral” rating and set a $30.00 price target on shares of Model N in a research report on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.80.

Model N Trading Up 0.0 %

Shares of NYSE:MODN traded up $0.01 during trading on Friday, hitting $29.85. The company’s stock had a trading volume of 50,735 shares, compared to its average volume of 579,906. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 2.05. Model N, Inc. has a fifty-two week low of $20.90 and a fifty-two week high of $35.96. The stock’s 50-day moving average price is $28.87 and its two-hundred day moving average price is $26.64.

Model N (NYSE:MODN) last released its quarterly earnings results on Monday, May 6th. The software maker reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). Model N had a return on equity of 6.94% and a net margin of 0.10%. The business had revenue of $65.10 million during the quarter, compared to analyst estimates of $64.45 million. During the same quarter last year, the firm posted ($0.05) EPS. The company’s revenue was up 4.3% compared to the same quarter last year. As a group, analysts forecast that Model N, Inc. will post 0.2 EPS for the current year.

Insider Activity at Model N

In related news, insider Laura Selig sold 2,655 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $25.32, for a total value of $67,224.60. Following the completion of the sale, the insider now directly owns 141,517 shares of the company’s stock, valued at $3,583,210.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Laura Selig sold 2,655 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $25.32, for a total transaction of $67,224.60. Following the completion of the transaction, the insider now directly owns 141,517 shares of the company’s stock, valued at $3,583,210.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jason Blessing sold 20,179 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $29.79, for a total value of $601,132.41. Following the completion of the transaction, the chief executive officer now directly owns 884,172 shares of the company’s stock, valued at $26,339,483.88. The disclosure for this sale can be found here. Insiders sold a total of 64,414 shares of company stock valued at $1,832,223 over the last three months. 2.55% of the stock is owned by insiders.

About Model N

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies in the United States and internationally. 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.