Martingale Asset Management L P Invests $203,000 in Model N, Inc. (NYSE:MODN)

Martingale Asset Management L P acquired a new position in shares of Model N, Inc. (NYSE:MODNGet Rating) in the 2nd quarter, Holdings Channel reports. The fund acquired 7,902 shares of the software maker’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new position in Model N during the first quarter valued at $54,000. SG Americas Securities LLC acquired a new position in Model N during the second quarter valued at $127,000. PNC Financial Services Group Inc. lifted its position in Model N by 13.1% during the first quarter. PNC Financial Services Group Inc. now owns 5,080 shares of the software maker’s stock valued at $136,000 after purchasing an additional 588 shares during the period. Amalgamated Bank acquired a new position in Model N during the first quarter valued at $152,000. Finally, Versor Investments LP acquired a new position in Model N during the second quarter valued at $200,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.

Model N Stock Down 0.5 %

Shares of NYSE MODN opened at $37.51 on Thursday. Model N, Inc. has a 12-month low of $20.95 and a 12-month high of $40.10. The stock has a market cap of $1.40 billion, a PE ratio of -48.09 and a beta of 0.64. The company has a current ratio of 2.45, a quick ratio of 2.70 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $35.30 and a 200 day moving average of $29.45.

Analyst Upgrades and Downgrades

MODN has been the subject of a number of recent analyst reports. Needham & Company LLC lifted their price objective on shares of Model N from $34.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. StockNews.com initiated coverage on shares of Model N in a report on Wednesday, October 12th. They issued a “buy” rating for the company. JMP Securities lifted their price objective on shares of Model N from $39.00 to $46.00 and gave the company a “market outperform” rating in a report on Wednesday, November 9th. BTIG Research lifted their price objective on shares of Model N to $42.00 in a report on Tuesday, November 15th. Finally, TheStreet raised shares of Model N from a “d+” rating to a “c” rating in a report on Friday, August 12th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, Model N has an average rating of “Buy” and an average price target of $42.50.

Insider Activity at Model N

In related news, CFO John Ederer sold 1,120 shares of the company’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $37.99, for a total transaction of $42,548.80. Following the completion of the sale, the chief financial officer now owns 186,455 shares of the company’s stock, valued at approximately $7,083,425.45. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Model N news, insider Mark Albert Anderson sold 5,962 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $34.33, for a total value of $204,675.46. Following the transaction, the insider now directly owns 168,769 shares in the company, valued at approximately $5,793,839.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Ederer sold 1,120 shares of the business’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $37.99, for a total transaction of $42,548.80. Following the completion of the transaction, the chief financial officer now owns 186,455 shares in the company, valued at $7,083,425.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,043 shares of company stock valued at $1,597,759. Corporate insiders own 2.00% of the company’s stock.

About Model N

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Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies. The company offers Global Pricing Management, which minimizes price erosion of products; Global Tender Management that enhances revenue by enabling segmentation and targeting, optimal bid pricing, and post-award tracking; Provider Management, which minimizes rebate overpayments; Payer Management that minimizes revenue leakage and noncompliance of complex contracts; Government Pricing, which optimizes revenue, and reduces the risk of fines and other penalties; and Medicaid that enhances compliance with regulatory requirements and payments of rebate claims timely, as well as at correct rates for government medicaid programs.

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

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