Bank of Montreal Can cut its stake in Medidata Solutions, Inc. (NASDAQ:MDSO) by 22.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,639 shares of the company’s stock after selling 10,909 shares during the period. Bank of Montreal Can’s holdings in Medidata Solutions were worth $2,865,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Airain ltd bought a new position in Medidata Solutions during the first quarter valued at approximately $439,000. AQR Capital Management LLC bought a new position in Medidata Solutions during the fourth quarter valued at approximately $703,000. BNP Paribas Arbitrage SA increased its position in Medidata Solutions by 9.8% in the first quarter. BNP Paribas Arbitrage SA now owns 11,171 shares of the company’s stock valued at $644,000 after buying an additional 997 shares in the last quarter. Renaissance Technologies LLC bought a new position in Medidata Solutions during the fourth quarter valued at approximately $2,975,000. Finally, Parametric Portfolio Associates LLC increased its position in Medidata Solutions by 1.8% in the first quarter. Parametric Portfolio Associates LLC now owns 91,576 shares of the company’s stock valued at $5,283,000 after buying an additional 1,618 shares in the last quarter.

Shares of Medidata Solutions, Inc. (MDSO) traded down 0.40% on Wednesday, reaching $77.65. 152,028 shares of the company’s stock traded hands. The firm’s 50 day moving average is $77.80 and its 200 day moving average is $65.11. Medidata Solutions, Inc. has a 52 week low of $46.10 and a 52 week high of $85.92. The firm has a market capitalization of $4.40 billion, a P/E ratio of 125.44 and a beta of 1.79.

Medidata Solutions (NASDAQ:MDSO) last issued its quarterly earnings results on Tuesday, July 18th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. The company had revenue of $137.41 million for the quarter, compared to analyst estimates of $134.28 million. Medidata Solutions had a net margin of 7.07% and a return on equity of 11.14%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. Analysts expect that Medidata Solutions, Inc. will post $1.28 earnings per share for the current fiscal year.

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MDSO has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Medidata Solutions from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of Medidata Solutions in a research note on Wednesday, April 19th. Piper Jaffray Companies raised their price target on shares of Medidata Solutions from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 11th. SunTrust Banks, Inc. raised their price target on shares of Medidata Solutions from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Finally, Morgan Stanley raised their price target on shares of Medidata Solutions from $74.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $78.17.

In other Medidata Solutions news, COO Michael L. Capone sold 5,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $69.46, for a total transaction of $347,300.00. Following the sale, the chief operating officer now directly owns 171,754 shares in the company, valued at $11,930,032.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Taylor sold 5,639 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $73.46, for a total transaction of $414,240.94. Following the sale, the director now owns 54,372 shares in the company, valued at $3,994,167.12. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.

About Medidata Solutions

Medidata Solutions Inc (Medidata) is a provider of cloud-based solutions for life sciences. The Company provides cloud-based solutions for clinical research in life sciences, offering platform technology that focuses on the clinical development. The Company’s plan study addresses three areas to ensure optimal study design, grant development and negotiation, and investigator payments.

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Institutional Ownership by Quarter for Medidata Solutions (NASDAQ:MDSO)

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