Allianz Asset Management GmbH cut its stake in Model N Inc (NYSE:MODN) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 312,822 shares of the software maker’s stock after selling 5,500 shares during the period. Allianz Asset Management GmbH’s holdings in Model N were worth $4,927,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the business. Trexquant Investment LP acquired a new position in shares of Model N during the 3rd quarter worth approximately $154,000. Voya Investment Management LLC raised its stake in shares of Model N by 14.7% during the 2nd quarter. Voya Investment Management LLC now owns 14,963 shares of the software maker’s stock worth $199,000 after buying an additional 1,915 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Model N during the 2nd quarter worth approximately $221,000. Strs Ohio acquired a new position in shares of Model N during the 4th quarter worth approximately $264,000. Finally, Citadel Advisors LLC acquired a new position in shares of Model N during the 3rd quarter worth approximately $352,000. 62.71% of the stock is owned by institutional investors.
Shares of Model N Inc (NYSE MODN) opened at $18.40 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.15 and a current ratio of 1.15. Model N Inc has a 12-month low of $9.85 and a 12-month high of $18.90. The company has a market capitalization of $527.75, a P/E ratio of -14.26 and a beta of 0.86.
Model N (NYSE:MODN) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.09. Model N had a negative return on equity of 55.03% and a negative net margin of 26.17%. The firm had revenue of $39.10 million during the quarter, compared to analysts’ expectations of $37.14 million. During the same period in the previous year, the business earned ($0.15) earnings per share. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. analysts predict that Model N Inc will post -0.57 EPS for the current fiscal year.
MODN has been the subject of several research analyst reports. Dougherty & Co upped their target price on Model N from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Zacks Investment Research raised Model N from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Friday, January 5th. JPMorgan Chase & Co. set a $20.00 target price on Model N and gave the stock a “hold” rating in a research note on Wednesday. They noted that the move was a valuation call. Raymond James Financial reiterated a “hold” rating on shares of Model N in a research report on Monday, December 4th. Finally, ValuEngine upgraded Model N from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Model N presently has an average rating of “Buy” and an average price target of $19.25.
In other Model N news, SVP Mark Albert Anderson sold 10,153 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $16.65, for a total value of $169,047.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Neeraj Gokhale sold 1,628 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $16.94, for a total value 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 disclosure for this sale can be found here. 18.90% of the stock is currently owned by insiders.
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About Model N
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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