Rhumbline Advisers decreased its holdings in Model N Inc (NYSE:MODN) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,101 shares of the software maker’s stock after selling 905 shares during the quarter. Rhumbline Advisers’ holdings in Model N were worth $581,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of MODN. PRW Wealth Management LLC bought a new position in Model N in the 4th quarter valued at $25,000. Great West Life Assurance Co. Can acquired a new stake in shares of Model N in the 4th quarter valued at $59,000. BNP Paribas Arbitrage SA increased its stake in shares of Model N by 7,886.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,431 shares of the software maker’s stock valued at $95,000 after buying an additional 5,363 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Model N by 410.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,045 shares of the software maker’s stock valued at $106,000 after buying an additional 6,470 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Model N by 43.6% in the 4th quarter. Citigroup Inc. now owns 11,218 shares of the software maker’s stock valued at $148,000 after buying an additional 3,406 shares during the period. Hedge funds and other institutional investors own 75.17% of the company’s stock.
In other Model N news, CFO David Barter sold 8,031 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $18.89, for a total value of $151,705.59. Following the completion of the transaction, the chief financial officer now directly owns 179,033 shares of the company’s stock, valued at $3,381,933.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Mark Albert Anderson sold 4,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $18.59, for a total value of $74,360.00. Following the completion of the transaction, the senior vice president now directly owns 130,934 shares of the company’s stock, valued at $2,434,063.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,833 shares of company stock valued at $467,895. 1.20% of the stock is owned by insiders.
Model N (NYSE:MODN) last announced its quarterly earnings data on Tuesday, May 7th. The software maker reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.20. Model N had a negative return on equity of 56.80% and a negative net margin of 20.30%. The business had revenue of $34.84 million during the quarter, compared to analysts’ expectations of $34.52 million. During the same period in the previous year, the firm earned $0.02 earnings per share. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. Analysts expect that Model N Inc will post -0.45 EPS for the current fiscal year.
MODN has been the subject of several research reports. Chardan Capital reissued a “buy” rating and issued a $23.00 target price on shares of Model N in a research note on Monday, May 20th. National Securities reaffirmed a “buy” rating on shares of Model N in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.00.
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Model N Profile
Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.
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