Vanguard Group Inc. Acquires 12,290 Shares of Model N Inc (MODN)

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Vanguard Group Inc. boosted its holdings in shares of Model N Inc (NYSE:MODN) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,078,347 shares of the software maker’s stock after acquiring an additional 12,290 shares during the period. Vanguard Group Inc. owned 3.43% of Model N worth $17,092,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. MetLife Investment Advisors LLC raised its holdings in Model N by 55.9% in the third quarter. MetLife Investment Advisors LLC now owns 18,053 shares of the software maker’s stock worth $286,000 after buying an additional 6,470 shares during the last quarter. Trexquant Investment LP purchased a new position in Model N in the third quarter worth about $351,000. Engineers Gate Manager LP raised its holdings in Model N by 36.0% in the third quarter. Engineers Gate Manager LP now owns 30,219 shares of the software maker’s stock worth $479,000 after buying an additional 7,996 shares during the last quarter. Monarch Partners Asset Management LLC raised its holdings in Model N by 18.1% in the third quarter. Monarch Partners Asset Management LLC now owns 36,860 shares of the software maker’s stock worth $584,000 after buying an additional 5,660 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in Model N in the third quarter worth about $591,000. 74.96% of the stock is owned by institutional investors.

Shares of NYSE MODN opened at $16.74 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $540.95 million, a P/E ratio of -22.93 and a beta of 0.57. Model N Inc has a 12-month low of $12.60 and a 12-month high of $20.33.

Model N (NYSE:MODN) last announced its earnings results on Tuesday, February 5th. The software maker reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.15. The company had revenue of $35.08 million during the quarter, compared to analyst estimates of $34.21 million. Model N had a negative net margin of 18.37% and a negative return on equity of 51.86%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) earnings per share. Equities research analysts anticipate that Model N Inc will post -0.46 EPS for the current year.

MODN has been the subject of several research reports. National Securities initiated coverage on shares of Model N in a report on Tuesday. They set a “buy” rating and a $23.00 price objective for the company. Zacks Investment Research cut shares of Model N from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. ValuEngine raised shares of Model N from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. Craig Hallum decreased their price objective on shares of Model N from $25.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, November 7th. Finally, Needham & Company LLC cut shares of Model N from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $21.88.

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

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