Swiss National Bank Has $2.38 Million Position in Model N, Inc. (NYSE:MODN)

Swiss National Bank boosted its holdings in Model N, Inc. (NYSE:MODN) by 16.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,500 shares of the software maker’s stock after buying an additional 9,800 shares during the period. Swiss National Bank owned approximately 0.20% of Model N worth $2,382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Artisan Partners Limited Partnership lifted its holdings in Model N by 31.6% in the first quarter. Artisan Partners Limited Partnership now owns 2,785,037 shares of the software maker’s stock valued at $98,117,000 after buying an additional 669,528 shares during the period. Neuberger Berman Group LLC lifted its holdings in Model N by 10.3% in the first quarter. Neuberger Berman Group LLC now owns 2,743,458 shares of the software maker’s stock valued at $96,652,000 after buying an additional 255,829 shares during the period. BlackRock Inc. lifted its holdings in Model N by 8.7% in the first quarter. BlackRock Inc. now owns 2,542,482 shares of the software maker’s stock valued at $89,569,000 after buying an additional 203,140 shares during the period. First Light Asset Management LLC raised its holdings in Model N by 48.8% in the first quarter. First Light Asset Management LLC now owns 1,949,762 shares of the software maker’s stock worth $68,690,000 after purchasing an additional 639,749 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in Model N by 26.9% in the first quarter. Clearbridge Investments LLC now owns 1,856,338 shares of the software maker’s stock worth $65,399,000 after purchasing an additional 392,966 shares during the period. Institutional investors and hedge funds own 94.63% of the company’s stock.

In related news, Director Alan S. Henricks sold 3,337 shares of the firm’s stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $33.10, for a total value of $110,454.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimberly Decarlis sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $32.18, for a total transaction of $32,180.00. Following the completion of the transaction, the director now directly owns 7,501 shares of the company’s stock, valued at approximately $241,382.18. The disclosure for this sale can be found here. Insiders have sold 28,367 shares of company stock valued at $936,894 in the last three months. 1.80% of the stock is owned by insiders.

Several equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Model N in a report on Tuesday, August 10th. Craig Hallum upgraded shares of Model N from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $41.00 in a report on Tuesday, August 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $50.20.

Shares of MODN stock opened at $34.14 on Friday. The firm has a fifty day moving average of $33.86 and a 200-day moving average of $35.39. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 1.00. Model N, Inc. has a 12-month low of $28.98 and a 12-month high of $48.20. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -43.77 and a beta of 0.96.

Model N (NYSE:MODN) last issued its quarterly earnings data on Monday, August 9th. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.14. Model N had a negative net margin of 14.90% and a negative return on equity of 7.20%. The company had revenue of $51.04 million during the quarter, compared to the consensus estimate of $48.86 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The firm’s revenue was up 23.7% compared to the same quarter last year. On average, equities analysts expect that Model N, Inc. will post -0.43 EPS for the current year.

Model N Profile

Model N, Inc engages in the provision of revenue management cloud solutions for the life science and technology industries. Its solutions include two complementary suites of software applications: Revenue Management Enterprise and Revenue Management Intelligence. The Revenue Management Enterprise suite serves as the system of record for and automates the execution of revenue management processes such as pricing, contracting and incentive & rebate management.

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

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