Aigen Investment Management LP Increases Stock Position in Model N, Inc. (NYSE:MODN)

Aigen Investment Management LP increased its position in Model N, Inc. (NYSE:MODN) by 114.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,172 shares of the software maker’s stock after buying an additional 10,778 shares during the quarter. Aigen Investment Management LP owned about 0.05% of Model N worth $543,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Model N by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 149,771 shares of the software maker’s stock worth $3,656,000 after buying an additional 1,634 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Model N by 27.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,054 shares of the software maker’s stock worth $197,000 after buying an additional 1,743 shares in the last quarter. Principal Financial Group Inc. boosted its position in Model N by 33.7% in the 3rd quarter. Principal Financial Group Inc. now owns 18,307 shares of the software maker’s stock valued at $447,000 after buying an additional 4,619 shares during the last quarter. Jump Financial LLC grew its stake in Model N by 113.0% during the 3rd quarter. Jump Financial LLC now owns 43,508 shares of the software maker’s stock valued at $1,062,000 after purchasing an additional 23,086 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Model N by 48.9% during the third quarter. Barclays PLC now owns 31,056 shares of the software maker’s stock worth $759,000 after buying an additional 10,202 shares in the last quarter.

Model N Price Performance

MODN stock opened at $29.85 on Friday. Model N, Inc. has a 1 year low of $20.90 and a 1 year high of $35.96. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 2.05. The stock’s fifty day moving average is $28.87 and its two-hundred day moving average is $26.64.

Model N (NYSE:MODN) last issued its quarterly earnings data on Monday, May 6th. The software maker reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). Model N had a net margin of 0.10% and a return on equity of 6.94%. The firm had revenue of $65.10 million during the quarter, compared to the consensus estimate of $64.45 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that Model N, Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $30.00 price target (down from $37.00) on shares of Model N in a report on Wednesday, April 10th. Needham & Company LLC reiterated a “hold” rating on shares of Model N in a research note on Tuesday, May 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 price objective on shares of Model N in a report on Tuesday, April 9th. JMP Securities reaffirmed a “market perform” rating on shares of Model N in a report on Monday, May 6th. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.80.

Insider Transactions at Model N

In other news, CEO Jason Blessing sold 20,179 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $29.79, for a total value of $601,132.41. Following the completion of the transaction, the chief executive officer now directly owns 884,172 shares in the company, valued at $26,339,483.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jason Blessing sold 20,179 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $29.79, for a total transaction of $601,132.41. Following the completion of the transaction, the chief executive officer now owns 884,172 shares of the company’s stock, valued at $26,339,483.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Christopher Lyon sold 8,124 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $25.26, for a total transaction of $205,212.24. Following the completion of the sale, the executive now owns 229,721 shares in the company, valued at $5,802,752.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,414 shares of company stock worth $1,832,223. Company insiders own 2.55% of the company’s stock.

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.