Nicholas Investment Partners LP bought a new stake in shares of Model N Inc (NYSE:MODN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 118,898 shares of the software maker’s stock, valued at approximately $1,873,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Renaissance Technologies LLC increased its holdings in Model N by 62.1% in the fourth quarter. Renaissance Technologies LLC now owns 911,700 shares of the software maker’s stock valued at $14,359,000 after buying an additional 349,300 shares in the last quarter. Lyon Street Capital LLC increased its holdings in Model N by 113.4% in the third quarter. Lyon Street Capital LLC now owns 576,785 shares of the software maker’s stock valued at $8,623,000 after buying an additional 306,522 shares in the last quarter. PenderFund Capital Management Ltd. purchased a new position in Model N in the fourth quarter valued at $2,224,000. Trigran Investments Inc. increased its holdings in Model N by 14.9% in the third quarter. Trigran Investments Inc. now owns 984,594 shares of the software maker’s stock valued at $14,720,000 after buying an additional 127,982 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Model N by 33.7% in the third quarter. Allianz Asset Management GmbH now owns 318,322 shares of the software maker’s stock valued at $4,759,000 after buying an additional 80,315 shares in the last quarter. Institutional investors own 62.71% of the company’s stock.
MODN has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Model N from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Monday, November 13th. Raymond James Financial reaffirmed a “hold” rating on shares of Model N in a report on Monday, December 4th. Dougherty & Co lifted their price objective on shares of Model N from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. JPMorgan Chase & Co. cut shares of Model N from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a report on Tuesday, December 12th. Finally, JMP Securities raised shares of Model N from a “market perform” rating to an “outperform” rating in a report on Wednesday, February 7th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.00.
Model N (NYSE:MODN) last released its earnings results on Tuesday, February 6th. The software maker reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.09. The business had revenue of $39.10 million during the quarter, compared to analysts’ expectations of $37.14 million. Model N had a negative net margin of 26.17% and a negative return on equity of 55.03%. The company’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.15) earnings per share. research analysts forecast that Model N Inc will post -0.57 EPS for the current fiscal year.
In other news, SVP Neeraj Gokhale sold 1,628 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $16.94, for a total transaction of $27,578.32. Following the completion of the sale, the senior vice president now owns 81,389 shares of the company’s stock, valued at $1,378,729.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mark Albert Anderson sold 10,153 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $16.65, for a total transaction of $169,047.45. The disclosure for this sale can be found here. 18.90% of the stock is owned by insiders.
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Model N Profile
Model N, Inc is a provider of revenue management solutions for life science and technology companies. The Company’s solutions enable its customers to maximize revenues and reduce revenue compliance risk by transforming their revenue life cycle from a series of tactical, disjointed operations into a strategic end-to-end process.
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