Russell Investments Group Ltd. Has $6.28 Million Stock Position in Model N, Inc. (NYSE:MODN)

Russell Investments Group Ltd. raised its holdings in shares of Model N, Inc. (NYSE:MODN) by 2.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 233,312 shares of the software maker’s stock after buying an additional 6,647 shares during the quarter. Russell Investments Group Ltd.’s holdings in Model N were worth $6,283,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of MODN. Conestoga Capital Advisors LLC increased its position in Model N by 15.3% during the fourth quarter. Conestoga Capital Advisors LLC now owns 3,824,894 shares of the software maker’s stock worth $103,004,000 after acquiring an additional 507,090 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Model N by 14.6% during the third quarter. Artisan Partners Limited Partnership now owns 3,310,207 shares of the software maker’s stock valued at $80,802,000 after buying an additional 421,952 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Model N by 5.1% in the third quarter. Vanguard Group Inc. now owns 2,644,961 shares of the software maker’s stock valued at $64,563,000 after buying an additional 128,461 shares during the period. Summit Creek Advisors LLC grew its position in Model N by 0.4% during the third quarter. Summit Creek Advisors LLC now owns 436,097 shares of the software maker’s stock worth $10,645,000 after buying an additional 1,731 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Model N during the fourth quarter worth about $7,964,000.

Insider Activity at Model N

In other Model N news, CFO John Ederer sold 8,018 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $25.31, for a total value of $202,935.58. Following the completion of the sale, the chief financial officer now owns 307,127 shares in the company, valued at approximately $7,773,384.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Model N news, CFO John Ederer sold 8,018 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $25.31, for a total value of $202,935.58. Following the transaction, the chief financial officer now directly owns 307,127 shares in the company, valued at approximately $7,773,384.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura Selig sold 4,770 shares of Model N stock in a transaction on Friday, February 16th. The shares were sold at an average price of $26.38, for a total value of $125,832.60. Following the completion of the sale, the insider now directly owns 143,866 shares of the company’s stock, valued at $3,795,185.08. The disclosure for this sale can be found here. Insiders sold 72,616 shares of company stock valued at $1,897,243 over the last ninety days. 2.55% of the stock is owned by insiders.

Model N Stock Performance

NYSE MODN opened at $29.76 on Thursday. Model N, Inc. has a 1-year low of $20.90 and a 1-year high of $35.96. The company has a 50 day moving average of $27.78 and a 200-day moving average of $26.23. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 2.26. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -35.43 and a beta of 0.68.

Model N (NYSE:MODN) last released its quarterly earnings results on Monday, May 6th. The software maker reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The business had revenue of $65.10 million for 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 for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) earnings per share. On average, equities analysts forecast that Model N, Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on MODN shares. JMP Securities reiterated a “market perform” rating on shares of Model N in a research report on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $30.00 price target (down previously from $37.00) on shares of Model N in a report on Wednesday, April 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Model N in a report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 target price on shares of Model N in a research note on Tuesday, April 9th. Finally, Craig Hallum restated a “hold” rating and set a $30.00 price target on shares of Model N in a research note on Tuesday, April 9th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.80.

Model N 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.