Alliancebernstein L.P. Takes $222,000 Position in Model N, Inc. (MODN)
Alliancebernstein L.P. purchased a new stake in shares of Model N, Inc. (NYSE:MODN) in the second quarter, according to its most recent filing with the SEC. The firm purchased 16,700 shares of the software maker’s stock, valued at approximately $222,000. Alliancebernstein L.P. owned 0.06% of Model N at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Essex Investment Management Co. LLC increased its stake in shares of Model N by 125.3% during the 2nd quarter. Essex Investment Management Co. LLC now owns 122,397 shares of the software maker’s stock worth $1,628,000 after purchasing an additional 68,063 shares in the last quarter. Emerald Advisers Inc. PA increased its stake in shares of Model N by 5.7% during the 2nd quarter. Emerald Advisers Inc. PA now owns 789,070 shares of the software maker’s stock worth $10,495,000 after purchasing an additional 42,890 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Model N by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 934,866 shares of the software maker’s stock worth $9,770,000 after purchasing an additional 21,555 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Model N by 61.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 45,800 shares of the software maker’s stock worth $479,000 after purchasing an additional 17,500 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY purchased a new position in shares of Model N during the 1st quarter worth approximately $175,000. Institutional investors own 65.74% of the company’s stock.
In other Model N news, CFO David Barter sold 3,596 shares of Model N stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $14.65, for a total value of $52,681.40. Following the transaction, the chief financial officer now owns 111,676 shares in the company, valued at approximately $1,636,053.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Amelia Generalis sold 3,758 shares of Model N stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $13.30, for a total transaction of $49,981.40. Following the transaction, the senior vice president now owns 76,734 shares in the company, valued at approximately $1,020,562.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,652 shares of company stock worth $186,741. 20.40% of the stock is owned by company insiders.
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Model N, Inc. (NYSE:MODN) opened at $14.55 on Monday. Model N, Inc. has a 1-year low of $7.80 and a 1-year high of $15.05. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.26.
Model N (NYSE:MODN) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. The company had revenue of $35.61 million for the quarter, compared to analyst estimates of $34.86 million. Model N had a negative net margin of 30.15% and a negative return on equity of 52.28%. Model N’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.28) EPS. equities research analysts expect that Model N, Inc. will post -0.64 EPS for the current year.
A number of research analysts have recently weighed in on MODN shares. Zacks Investment Research cut shares of Model N from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. ValuEngine raised shares of Model N from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub cut shares of Model N from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Model N has a consensus rating of “Hold” and a consensus price target of $14.00.
Model N Profile
Model N, Inc is a provider of revenue management solutions for life science and technology companies. The Company’s solutions enable its customers to maximize revenues and reduce revenue compliance risk by transforming their revenue life cycle from a series of tactical, disjointed operations into a strategic end-to-end process.
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