Conestoga Capital Advisors LLC Grows Holdings in Model N, Inc. (NYSE:MODN)

Conestoga Capital Advisors LLC boosted its holdings in Model N, Inc. (NYSE:MODN) by 15.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,824,894 shares of the software maker’s stock after purchasing an additional 507,090 shares during the quarter. Model N comprises 1.5% of Conestoga Capital Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Conestoga Capital Advisors LLC owned 9.80% of Model N worth $103,004,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MODN. Artisan Partners Limited Partnership lifted its holdings in shares of Model N by 14.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,310,207 shares of the software maker’s stock worth $80,802,000 after acquiring an additional 421,952 shares during the period. BlackRock Inc. lifted its holdings in shares of Model N by 13.2% during the 3rd quarter. BlackRock Inc. now owns 2,949,847 shares of the software maker’s stock worth $100,973,000 after acquiring an additional 343,775 shares during the period. First Light Asset Management LLC lifted its holdings in shares of Model N by 6.2% during the 1st quarter. First Light Asset Management LLC now owns 2,707,143 shares of the software maker’s stock worth $72,822,000 after acquiring an additional 159,213 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Model N by 5.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,644,961 shares of the software maker’s stock worth $64,563,000 after acquiring an additional 128,461 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in Model N by 0.8% in the first quarter. Clearbridge Investments LLC now owns 2,304,058 shares of the software maker’s stock valued at $61,979,000 after buying an additional 19,326 shares during the period.

Insiders Place Their Bets

In other Model N news, CRO Christopher Lyon sold 7,862 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.38, for a total value of $207,399.56. Following the sale, the executive now directly owns 237,845 shares in the company, valued at $6,274,351.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CRO Christopher Lyon sold 7,862 shares of Model N stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $26.38, for a total value of $207,399.56. Following the transaction, the executive now owns 237,845 shares of the company’s stock, valued at approximately $6,274,351.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Ederer sold 8,018 shares of Model N stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $25.31, for a total value of $202,935.58. Following the completion of the transaction, the chief financial officer now directly owns 307,127 shares in the company, valued at approximately $7,773,384.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,616 shares of company stock worth $1,897,243. 2.55% of the stock is owned by corporate insiders.

Model N Stock Performance

Shares of MODN traded down $0.04 during midday trading on Wednesday, hitting $29.66. 3,766,056 shares of the stock traded hands, compared to its average volume of 491,351. Model N, Inc. has a 1-year low of $20.90 and a 1-year high of $35.96. The business’s 50 day moving average price is $26.38 and its two-hundred day moving average price is $25.38. The company has a debt-to-equity ratio of 2.26, a quick ratio of 4.00 and a current ratio of 4.00. The firm has a market capitalization of $1.16 billion, a PE ratio of -35.36 and a beta of 0.70.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Model N in a research note on Tuesday. Craig Hallum reissued a “hold” rating and set a $30.00 price target on shares of Model N in a research report on Tuesday. JMP Securities reaffirmed a “market perform” rating on shares of Model N in a report on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Model N in a report on Monday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $30.00 price objective (down previously from $37.00) on shares of Model N in a report on Wednesday. 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 data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.80.

About Model N

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.