Acadian Asset Management LLC Decreases Position in Model N, Inc. (NYSE:MODN)

Acadian Asset Management LLC cut its stake in Model N, Inc. (NYSE:MODN) by 65.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 134,182 shares of the software maker’s stock after selling 249,961 shares during the quarter. Acadian Asset Management LLC’s holdings in Model N were worth $4,735,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MODN. Conestoga Capital Advisors LLC purchased a new position in Model N in the 2nd quarter valued at about $45,498,000. Standard Life Aberdeen plc acquired a new stake in Model N in the 3rd quarter valued at about $24,196,000. Neuberger Berman Group LLC raised its holdings in Model N by 25.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,537,068 shares of the software maker’s stock valued at $88,189,000 after acquiring an additional 507,697 shares during the last quarter. FMR LLC raised its holdings in Model N by 1,705.9% in the 2nd quarter. FMR LLC now owns 435,965 shares of the software maker’s stock valued at $15,154,000 after acquiring an additional 411,824 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in Model N in the 2nd quarter valued at about $8,878,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MODN opened at $31.83 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.31 and a current ratio of 3.31. The stock has a market capitalization of $1.10 billion, a P/E ratio of -67.72 and a beta of 1.08. The company has a 50 day moving average price of $34.91 and a 200 day moving average price of $35.03. Model N, Inc. has a fifty-two week low of $15.00 and a fifty-two week high of $44.56.

Model N (NYSE:MODN) last posted its quarterly earnings data on Tuesday, November 10th. The software maker reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.05. The firm had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $40.51 million. Model N had a negative net margin of 10.03% and a negative return on equity of 13.21%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $0.12 EPS. Research analysts forecast that Model N, Inc. will post -0.22 earnings per share for the current fiscal year.

A number of research firms have commented on MODN. TheStreet upgraded shares of Model N from a “d+” rating to a “c” rating in a report on Monday, August 17th. Needham & Company LLC cut their price objective on shares of Model N from $48.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, November 11th. Finally, Craig Hallum downgraded shares of Model N from a “buy” rating to a “hold” rating and cut their price target for the stock from $49.50 to $38.00 in a report on Wednesday, November 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Model N currently has a consensus rating of “Buy” and an average target price of $34.14.

In other news, CEO Jason Blessing sold 17,885 shares of Model N stock in a transaction on Monday, November 16th. The shares were sold at an average price of $31.47, for a total transaction of $562,840.95. Following the completion of the sale, the chief executive officer now directly owns 412,644 shares of the company’s stock, valued at approximately $12,985,906.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Christopher Lyon sold 3,977 shares of Model N stock in a transaction on Monday, November 16th. The stock was sold at an average price of $31.47, for a total transaction of $125,156.19. Following the sale, the senior vice president now directly owns 87,255 shares of the company’s stock, valued at $2,745,914.85. The disclosure for this sale can be found here. Insiders have sold a total of 34,847 shares of company stock valued at $1,118,403 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

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, Revenue Cloud for High-Tech Manufacturing, and Revenue Cloud for Semiconductors and Components.

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Institutional Ownership by Quarter for Model N (NYSE:MODN)

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