Russell Investments Group Ltd. Grows Position in Model N, Inc. (NYSE:MODN)

Russell Investments Group Ltd. boosted its stake in shares of Model N, Inc. (NYSE:MODN) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 233,312 shares of the software maker’s stock after purchasing an additional 6,647 shares during the period. Russell Investments Group Ltd. owned approximately 0.60% of Model N worth $6,283,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. purchased a new position in shares of Model N in the 3rd quarter worth $34,000. International Assets Investment Management LLC raised its holdings in shares of Model N by 1,594.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,558 shares of the software maker’s stock worth $69,000 after purchasing an additional 2,407 shares during the period. SG Americas Securities LLC acquired a new position in shares of Model N in the 4th quarter valued at about $115,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Model N by 27.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,054 shares of the software maker’s stock worth $197,000 after purchasing an additional 1,743 shares during the period. Finally, Aigen Investment Management LP grew its holdings in shares of Model N by 23.3% during the 3rd quarter. Aigen Investment Management LP now owns 9,394 shares of the software maker’s stock worth $229,000 after purchasing an additional 1,778 shares during the period.

Insiders Place Their Bets

In other news, Director Dave Yarnold sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $26.88, for a total value of $134,400.00. Following the completion of the sale, the director now directly owns 22,012 shares in the company, valued at approximately $591,682.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Dave Yarnold sold 5,000 shares of Model N stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $26.88, for a total value of $134,400.00. Following the completion of the transaction, the director now directly owns 22,012 shares of the company’s stock, valued at approximately $591,682.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Christopher Lyon sold 7,862 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.38, for a total transaction of $207,399.56. Following the sale, the executive now directly owns 237,845 shares of the company’s stock, valued at approximately $6,274,351.10. The disclosure for this sale can be found here. Insiders have sold a total of 72,616 shares of company stock valued at $1,897,243 in the last quarter. Insiders own 2.55% of the company’s stock.

Analysts Set New Price Targets

MODN has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Model N in a research report on Tuesday. Morgan Stanley restated an “equal weight” rating and set a $30.00 target price (down previously from $37.00) on shares of Model N in a report on Wednesday, April 10th. Robert W. Baird reiterated a “neutral” rating and issued a $30.00 price target on shares of Model N in a report on Monday, April 8th. Royal Bank of Canada restated a “sector perform” rating and set a $30.00 price objective on shares of Model N in a research note on Tuesday, April 9th. Finally, StockNews.com assumed coverage on Model N in a research note on Saturday, May 4th. They issued a “hold” rating for the company. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Model N presently has an average rating of “Hold” and a consensus price target of $31.80.

Model N Price Performance

Shares of NYSE MODN opened at $29.76 on Thursday. The business has a 50 day moving average price of $27.78 and a two-hundred day moving average price of $26.23. Model N, Inc. has a fifty-two week low of $20.90 and a fifty-two week high of $35.96. The firm has a market cap of $1.16 billion, a PE ratio of -35.43 and a beta of 0.68. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 2.26.

Model N (NYSE:MODN) last posted its quarterly earnings results on Monday, May 6th. The software maker reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). The company had revenue of $65.10 million during the quarter, compared to analyst estimates of $64.45 million. Model N had a negative net margin of 12.48% and a positive return on equity of 5.79%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. Sell-side analysts expect that Model N, Inc. will post 0.2 earnings per share for the current fiscal year.

Model N Company Profile

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies in the United States and internationally. 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 on a timely basis and at correct rates for government Medicaid programs, as well as Validata, State Pricing Transparency Management, Advanced Membership Management, and Intelligence Cloud.