Valmark Advisers Inc. boosted its stake in shares of Model N, Inc. (NYSE:MODN) by 42.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,755 shares of the software maker’s stock after buying an additional 5,845 shares during the quarter. Valmark Advisers Inc. owned approximately 0.06% of Model N worth $697,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Conestoga Capital Advisors LLC acquired a new stake in Model N in the 2nd quarter worth approximately $45,498,000. Standard Life Aberdeen plc acquired a new stake in Model N during the third quarter valued at $24,196,000. Neuberger Berman Group LLC grew its position 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 buying an additional 507,697 shares during the period. FMR LLC grew its position in Model N by 1,705.9% during the second quarter. FMR LLC now owns 435,965 shares of the software maker’s stock valued at $15,154,000 after buying an additional 411,824 shares during the period. Finally, Driehaus Capital Management LLC acquired a new stake in Model N during the second quarter valued at $8,878,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on MODN shares. Craig Hallum lowered shares of Model N from a “buy” rating to a “hold” rating and dropped their price target for the company from $49.50 to $38.00 in a research report on Wednesday, November 11th. Needham & Company LLC dropped their price target on shares of Model N from $48.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, November 11th. Finally, TheStreet upgraded shares of Model N from a “d+” rating to a “c” rating in a research report on Monday, August 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.14.
Shares of NYSE MODN opened at $31.00 on Tuesday. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $35.24 and its two-hundred day moving average is $34.94. The company has a market cap of $1.07 billion, a P/E ratio of -65.96 and a beta of 1.08. Model N, Inc. has a 12 month low of $15.00 and a 12 month high of $44.56.
Model N (NYSE:MODN) last issued its quarterly earnings results on Tuesday, November 10th. The software maker reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The company had revenue of $41.50 million for the quarter, compared to the consensus estimate of $40.51 million. Model N had a negative return on equity of 13.21% and a negative net margin of 10.03%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 EPS. Sell-side analysts expect that Model N, Inc. will post -0.22 earnings per share for the current fiscal year.
In other news, Director Timothy M. Adams sold 4,630 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $36.05, for a total value of $166,911.50. Following the completion of the sale, the director now directly owns 43,085 shares of the company’s stock, valued at $1,553,214.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.
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.
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