Retirement Systems of Alabama acquired a new position in shares of Medidata Solutions, Inc. (NASDAQ:MDSO) during the second quarter, Holdings Channel reports. The fund acquired 103,866 shares of the company’s stock, valued at approximately $8,122,000.

Several other hedge funds have also recently added to or reduced their stakes in MDSO. Strs Ohio boosted its stake in Medidata Solutions by 0.6% in the first quarter. Strs Ohio now owns 156,397 shares of the company’s stock worth $9,022,000 after buying an additional 900 shares in the last quarter. Malaga Cove Capital LLC boosted its stake in Medidata Solutions by 19.3% in the first quarter. Malaga Cove Capital LLC now owns 38,245 shares of the company’s stock worth $2,194,000 after buying an additional 6,188 shares in the last quarter. American Capital Management Inc. boosted its stake in Medidata Solutions by 25.5% in the first quarter. American Capital Management Inc. now owns 346,231 shares of the company’s stock worth $19,974,000 after buying an additional 70,405 shares in the last quarter. Personal Capital Advisors Corp purchased a new stake in Medidata Solutions during the first quarter worth about $711,000. Finally, Global Thematic Partners LLC boosted its stake in Medidata Solutions by 36.5% in the first quarter. Global Thematic Partners LLC now owns 871,049 shares of the company’s stock worth $50,251,000 after buying an additional 232,810 shares in the last quarter.

Shares of Medidata Solutions, Inc. (NASDAQ MDSO) opened at 72.84 on Monday. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 117.67 and a beta of 1.79. The company has a 50-day moving average price of $77.92 and a 200 day moving average price of $66.27. Medidata Solutions, Inc. has a 52 week low of $46.10 and a 52 week high of $85.92.

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, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Medidata Solutions had a return on equity of 11.14% and a net margin of 7.07%. The company had revenue of $137.41 million for the quarter, compared to analyst estimates of $134.28 million. During the same quarter last year, the company posted $0.24 EPS. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. Analysts expect that Medidata Solutions, Inc. will post $1.28 EPS for the current fiscal year.

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A number of research firms have recently issued reports on MDSO. J P Morgan Chase & Co boosted their price objective on Medidata Solutions to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. Citigroup Inc. restated a “buy” rating and set a $94.00 price objective (up from $77.00) on shares of Medidata Solutions in a research report on Monday, July 10th. Piper Jaffray Companies boosted their price objective on Medidata Solutions to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 7th. SunTrust Banks, Inc. boosted their price objective on Medidata Solutions from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, June 27th. Finally, BidaskClub cut Medidata Solutions from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. Medidata Solutions currently has a consensus rating of “Buy” and an average target price of $78.17.

In other news, Director Robert Taylor sold 5,639 shares of Medidata Solutions stock in a transaction on Monday, June 5th. The stock was sold at an average price of $73.46, for a total value of $414,240.94. Following the transaction, the director now owns 54,372 shares in the company, valued at approximately $3,994,167.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.80% of the company’s stock.

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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