Credit Suisse AG grew its stake in Model N Inc (NYSE:MODN) by 110.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,494 shares of the software maker’s stock after purchasing an additional 34,834 shares during the quarter. Credit Suisse AG’s holdings in Model N were worth $2,333,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System grew its position in shares of Model N by 1.2% in the third quarter. California State Teachers Retirement System now owns 50,587 shares of the software maker’s stock valued at $1,404,000 after purchasing an additional 604 shares during the period. Solstein Capital LLC acquired a new stake in shares of Model N in the fourth quarter valued at about $41,000. Swiss National Bank grew its position in shares of Model N by 2.9% in the fourth quarter. Swiss National Bank now owns 46,900 shares of the software maker’s stock valued at $1,645,000 after purchasing an additional 1,300 shares during the period. Great West Life Assurance Co. Can acquired a new stake in shares of Model N in the fourth quarter valued at about $56,000. Finally, Rhumbline Advisers grew its position in shares of Model N by 4.8% in the fourth quarter. Rhumbline Advisers now owns 40,577 shares of the software maker’s stock valued at $1,423,000 after purchasing an additional 1,846 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.
NYSE:MODN opened at $21.95 on Thursday. The company’s 50-day moving average price is $27.83 and its 200-day moving average price is $30.04. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.66. The company has a market cap of $702.02 million, a P/E ratio of -41.42 and a beta of 0.54. Model N Inc has a twelve month low of $15.00 and a twelve month high of $35.84.
Model N (NYSE:MODN) last posted its quarterly earnings results on Tuesday, February 4th. The software maker reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.23. The firm had revenue of $38.40 million for the quarter, compared to the consensus estimate of $37.26 million. Model N had a negative net margin of 12.15% and a negative return on equity of 25.25%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. On average, analysts expect that Model N Inc will post -0.39 earnings per share for the current year.
In other Model N news, CFO David Barter sold 2,377 shares of Model N stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $33.03, for a total transaction of $78,512.31. Following the transaction, the chief financial officer now directly owns 215,990 shares of the company’s stock, valued at $7,134,149.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason Blessing sold 7,788 shares of Model N stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $33.03, for a total transaction of $257,237.64. Following the transaction, the chief executive officer now directly owns 469,482 shares in the company, valued at $15,506,990.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,750 shares of company stock worth $355,073. Insiders own 1.20% of the company’s stock.
Several analysts have recently issued reports on MODN shares. Zacks Investment Research upgraded shares of Model N from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of Model N from a “neutral” rating to an “overweight” rating and set a $36.00 target price on the stock in a research report on Thursday, December 12th. They noted that the move was a valuation call. Oppenheimer dropped their target price on shares of Model N from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 17th. Needham & Company LLC decreased their price target on shares of Model N from $37.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Finally, Robert W. Baird started coverage on shares of Model N in a research note on Tuesday, February 18th. They issued an “outperform” rating and a $41.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $29.88.
About Model N
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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