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

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Acadian Asset Management LLC cut its stake in shares of Model N, Inc. (NYSE:MODN) by 65.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 134,182 shares of the software maker’s stock after selling 249,961 shares during the period. Acadian Asset Management LLC owned about 0.39% of Model N worth $4,735,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Neuberger Berman Group LLC raised its holdings in Model N by 25.0% during the second 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 period. Conestoga Capital Advisors LLC raised its holdings in Model N by 39.6% during the third quarter. Conestoga Capital Advisors LLC now owns 1,827,360 shares of the software maker’s stock valued at $64,469,000 after acquiring an additional 518,440 shares during the period. Vanguard Group Inc. raised its holdings in Model N by 8.8% during the second quarter. Vanguard Group Inc. now owns 1,782,941 shares of the software maker’s stock valued at $61,977,000 after acquiring an additional 144,952 shares during the period. First Light Asset Management LLC increased its holdings in shares of Model N by 1.3% in the second quarter. First Light Asset Management LLC now owns 938,288 shares of the software maker’s stock worth $32,615,000 after purchasing an additional 12,367 shares during the last quarter. Finally, Emerald Advisers LLC increased its holdings in shares of Model N by 34.0% in the second quarter. Emerald Advisers LLC now owns 823,057 shares of the software maker’s stock worth $28,609,000 after purchasing an additional 208,845 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

In other Model N news, CMO Dave Michaud sold 3,671 shares of the business’s stock in a transaction that occurred on Monday, November 16th. The stock was sold at an average price of $31.47, for a total transaction of $115,526.37. Following the completion of the transaction, the chief marketing officer now owns 40,105 shares in the company, valued at $1,262,104.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason Blessing sold 17,885 shares of the business’s stock in a transaction that occurred on Monday, November 16th. The shares were sold at an average price of $31.47, for a total value of $562,840.95. Following the transaction, the chief executive officer now owns 412,644 shares of the company’s stock, valued at approximately $12,985,906.68. The disclosure for this sale can be found here. Insiders have sold 34,847 shares of company stock worth $1,118,403 over the last three months. 1.20% of the stock is currently owned by insiders.

Several equities research analysts have recently issued reports on MODN shares. Needham & Company LLC reduced their target price on Model N from $48.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, November 11th. Craig Hallum cut Model N from a “buy” rating to a “hold” rating and reduced their target price for the stock from $49.50 to $38.00 in a report on Wednesday, November 11th. Finally, TheStreet raised Model N from a “d+” rating to a “c” rating in a report on Monday, August 17th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $34.14.

Shares of NYSE MODN opened at $31.83 on Friday. The business’s 50 day moving average is $34.91 and its two-hundred day moving average is $35.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.31 and a quick ratio of 3.31. Model N, Inc. has a 1-year low of $15.00 and a 1-year high of $44.56. The stock has a market capitalization of $1.10 billion, a P/E ratio of -67.72 and a beta of 1.08.

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

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

Further Reading: Forex

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

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