Model N, Inc. (NYSE:MODN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in Model N, Inc. (NYSE:MODN) by 53.9% during the fourth quarter, Holdings Channel reports. The firm owned 69,532 shares of the software maker’s stock after selling 81,217 shares during the period. Federated Hermes Inc.’s holdings in Model N were worth $1,872,000 at the end of the most recent quarter.

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

Model N Price Performance

MODN opened at $29.64 on Monday. The company has a 50-day moving average of $27.04 and a 200-day moving average of $25.89. The company has a market capitalization of $1.16 billion, a P/E ratio of -35.29 and a beta of 0.70. Model N, Inc. has a 1-year low of $20.90 and a 1-year high of $35.96. The company has a debt-to-equity ratio of 2.26, a quick ratio of 4.00 and a current ratio of 4.00.

Model N (NYSE:MODN) last released its earnings results on Tuesday, February 6th. The software maker reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $63.49 million during the quarter, compared to the consensus estimate of $62.12 million. Model N had a positive return on equity of 5.79% and a negative net margin of 12.48%. Equities analysts expect that Model N, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MODN. 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. Needham & Company LLC restated a “hold” rating on shares of Model N in a report on Monday, April 22nd. Robert W. Baird reaffirmed a “neutral” rating and set a $30.00 price target on shares of Model N in a research note on Monday, April 8th. JMP Securities reaffirmed a “market perform” rating on shares of Model N in a research note on Tuesday, April 23rd. Finally, StockNews.com assumed coverage on shares of Model N in a research note on Friday. They set a “hold” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.80.

Insider Transactions at Model N

In other news, CRO Christopher Lyon sold 8,124 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $25.26, for a total value of $205,212.24. Following the completion of the sale, the executive now owns 229,721 shares of the company’s stock, valued at approximately $5,802,752.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Christopher Lyon sold 8,124 shares of Model N stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $25.26, for a total value of $205,212.24. Following the completion of the transaction, the executive now directly owns 229,721 shares of the company’s stock, valued at approximately $5,802,752.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Laura Selig sold 2,655 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $25.32, for a total transaction of $67,224.60. Following the transaction, the insider now directly owns 141,517 shares of the company’s stock, valued at $3,583,210.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,616 shares of company stock valued at $1,897,243. Insiders own 2.55% of the company’s stock.

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.