PenderFund Capital Management Ltd. purchased a new stake in shares of Model N Inc (NYSE:MODN) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 139,843 shares of the software maker’s stock, valued at approximately $2,224,000. Model N comprises about 1.5% of PenderFund Capital Management Ltd.’s holdings, making the stock its 22nd biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in MODN. Lyon Street Capital LLC boosted its holdings in shares of Model N by 113.4% during the 3rd quarter. Lyon Street Capital LLC now owns 576,785 shares of the software maker’s stock valued at $8,623,000 after acquiring an additional 306,522 shares during the last quarter. Trigran Investments Inc. boosted its holdings in shares of Model N by 14.9% in the third quarter. Trigran Investments Inc. now owns 984,594 shares of the software maker’s stock worth $14,720,000 after buying an additional 127,982 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Model N by 33.7% in the third quarter. Allianz Asset Management GmbH now owns 318,322 shares of the software maker’s stock worth $4,759,000 after buying an additional 80,315 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Model N by 3.0% in the second quarter. Vanguard Group Inc. now owns 963,235 shares of the software maker’s stock worth $12,811,000 after buying an additional 28,369 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Model N by 47.9% in the third quarter. GSA Capital Partners LLP now owns 74,562 shares of the software maker’s stock worth $1,115,000 after buying an additional 24,153 shares during the last quarter. 65.52% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on MODN. JPMorgan Chase & Co. downgraded shares of Model N from an “overweight” rating to a “neutral” rating and set a $18.00 price objective on the stock. in a report on Tuesday, December 12th. Raymond James Financial reissued a “hold” rating on shares of Model N in a report on Monday, December 4th. Dougherty & Co raised their price objective on shares of Model N from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Zacks Investment Research raised shares of Model N from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Friday, January 5th. Finally, ValuEngine raised shares of Model N from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Model N Inc (NYSE MODN) opened at $17.40 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.27. Model N Inc has a 1-year low of $9.60 and a 1-year high of $17.50. The firm has a market cap of $405.26, a P/E ratio of -13.49 and a beta of 1.06.

Model N (NYSE:MODN) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.09. Model N had a negative net margin of 26.17% and a negative return on equity of 53.40%. The business had revenue of $39.10 million for the quarter, compared to the consensus estimate of $37.14 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The company’s revenue for the quarter was up 39.1% on a year-over-year basis. equities research analysts forecast that Model N Inc will post -0.64 EPS for the current fiscal year.

In other news, Director Alan S. Henricks sold 4,730 shares of Model N stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $14.59, for a total transaction of $69,010.70. Following the sale, the director now owns 40,134 shares in the company, valued at $585,555.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alan S. Henricks sold 13,475 shares of Model N stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $14.50, for a total transaction of $195,387.50. Following the sale, the director now owns 40,134 shares in the company, valued at approximately $581,943. The disclosure for this sale can be found here. Company insiders own 18.90% of the company’s stock.

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Model N Company 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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Institutional Ownership by Quarter for Model N (NYSE:MODN)

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