Model N, Inc. (NYSE:MODN) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its stake in shares of Model N, Inc. (NYSE:MODN) by 1.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,851 shares of the software maker’s stock after selling 238 shares during the period. Wells Fargo & Company MN owned 0.05% of Model N worth $155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MODN. Emerald Advisers Inc. PA boosted its position in shares of Model N by 0.6% in the first quarter. Emerald Advisers Inc. PA now owns 746,180 shares of the software maker’s stock valued at $7,798,000 after buying an additional 4,090 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Model N during the first quarter worth $568,000. Pier 88 Investment Partners LLC raised its position in Model N by 1.3% in the first quarter. Pier 88 Investment Partners LLC now owns 88,214 shares of the software maker’s stock worth $922,000 after buying an additional 1,156 shares during the period. Teachers Advisors LLC raised its position in Model N by 28.7% in the fourth quarter. Teachers Advisors LLC now owns 43,373 shares of the software maker’s stock worth $384,000 after buying an additional 9,674 shares during the period. Finally, State Street Corp raised its position in Model N by 9.4% in the fourth quarter. State Street Corp now owns 350,077 shares of the software maker’s stock worth $3,100,000 after buying an additional 30,167 shares during the period. 66.12% of the stock is owned by institutional investors and hedge funds.

Model N, Inc. (NYSE MODN) traded up 0.74% during midday trading on Friday, hitting $13.60. The stock had a trading volume of 165,517 shares. The stock has a 50-day moving average of $13.10 and a 200-day moving average of $11.68. Model N, Inc. has a 52 week low of $6.98 and a 52 week high of $13.75. The firm’s market cap is $395.66 million.

Model N (NYSE:MODN) last released its earnings results on Tuesday, August 8th. The software maker reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. Model N had a negative return on equity of 52.59% and a negative net margin of 30.85%. The business had revenue of $34.20 million for the quarter, compared to analyst estimates of $34.41 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Model N’s revenue was up 22.6% on a year-over-year basis. Analysts forecast that Model N, Inc. will post ($0.62) EPS for the current fiscal year.

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Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Model N from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub raised Model N from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Dougherty & Co started coverage on Model N in a research note on Thursday, June 29th. They issued a “buy” rating and a $17.00 price objective for the company. Chardan Capital started coverage on Model N in a research note on Friday, May 19th. They set a “buy” rating and a $16.00 price target for the company. Finally, Craig Hallum raised Model N from a “hold” rating to a “buy” rating in a research note on Tuesday, May 9th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $13.50.

In related news, SVP Amelia Generalis sold 3,758 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $13.30, for a total transaction of $49,981.40. Following the sale, the senior vice president now owns 76,734 shares in the company, valued at $1,020,562.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 20.40% of the company’s stock.

About Model N

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.

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

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