Swiss National Bank Has $3.27 Million Stake in Model N, Inc. (NYSE:MODN)

Swiss National Bank lifted its holdings in Model N, Inc. (NYSE:MODN – Get Rating) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,500 shares of the software maker’s stock after buying an additional 1,900 shares during the period. Swiss National Bank owned approximately 0.21% of Model N worth $3,265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MODN. Altshuler Shaham Ltd bought a new stake in Model N during the 3rd quarter valued at $29,000. Tower Research Capital LLC TRC raised its stake in Model N by 35.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,664 shares of the software maker’s stock worth $57,000 after buying an additional 431 shares in the last quarter. Stephens Inc. AR bought a new position in Model N in the third quarter worth about $69,000. Allspring Global Investments Holdings LLC increased its stake in shares of Model N by 94.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,420 shares of the software maker’s stock valued at $82,000 after purchasing an additional 1,174 shares in the last quarter. Finally, Almanack Investment Partners LLC. bought a new position in shares of Model N during the third quarter valued at approximately $113,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

Model N Price Performance

Shares of NYSE MODN opened at $29.39 on Tuesday. Model N, Inc. has a 52 week low of $20.95 and a 52 week high of $43.18. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -21.30 and a beta of 0.68. The firm has a 50-day simple moving average of $31.94 and a 200-day simple moving average of $36.12. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 3.03.

Insider Buying and Selling

In related news, CEO Jason Blessing sold 12,525 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $28.63, for a total transaction of $358,590.75. Following the completion of the sale, the chief executive officer now directly owns 683,799 shares in the company, valued at $19,577,165.37. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO John Ederer sold 10,823 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $32.09, for a total value of $347,310.07. Following the completion of the transaction, the chief financial officer now owns 166,878 shares of the company’s stock, valued at $5,355,115.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jason Blessing sold 12,525 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $28.63, for a total transaction of $358,590.75. Following the completion of the transaction, the chief executive officer now directly owns 683,799 shares of the company’s stock, valued at approximately $19,577,165.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,032 shares of company stock worth $1,213,444. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MODN shares. Truist Financial raised their target price on shares of Model N from $45.00 to $52.00 in a report on Wednesday, February 8th. Morgan Stanley assumed coverage on shares of Model N in a research report on Monday, March 27th. They issued an “overweight” rating and a $43.00 price objective for the company. Craig Hallum lowered their price target on shares of Model N from $45.00 to $38.00 in a research report on Wednesday, May 10th. StockNews.com assumed coverage on shares of Model N in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, 1-800-FLOWERS.COM restated an “initiates” rating on shares of Model N in a research note on Thursday, April 27th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Model N has a consensus rating of “Moderate Buy” and an average price target of $43.38.

Model N Company Profile

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Model N, Inc engages in developing and monetizing revenue management solutions. It offers cloud revenue optimization and compliance to pharmaceutical, medical technology, semiconductor, and high-tech companies. Its products provide business processes such as pricing, quoting, contracting, regulatory compliance, rebates and incentives.