SG Americas Securities LLC Buys Shares of 131,684 Model N Inc (MODN)

SG Americas Securities LLC bought a new position in shares of Model N Inc (NYSE:MODN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 131,684 shares of the software maker’s stock, valued at approximately $2,087,000. SG Americas Securities LLC owned approximately 0.42% of Model N as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Dupont Capital Management Corp bought a new position in shares of Model N during the third quarter valued at $755,000. American Century Companies Inc. increased its position in shares of Model N by 256.1% during the third quarter. American Century Companies Inc. now owns 336,079 shares of the software maker’s stock worth $5,327,000 after buying an additional 241,690 shares during the period. Monarch Partners Asset Management LLC increased its position in shares of Model N by 18.1% during the third quarter. Monarch Partners Asset Management LLC now owns 36,860 shares of the software maker’s stock worth $584,000 after buying an additional 5,660 shares during the period. Engineers Gate Manager LP increased its position in shares of Model N by 36.0% during the third quarter. Engineers Gate Manager LP now owns 30,219 shares of the software maker’s stock worth $479,000 after buying an additional 7,996 shares during the period. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of Model N by 12.5% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 672,049 shares of the software maker’s stock worth $10,652,000 after buying an additional 74,900 shares during the period. Hedge funds and other institutional investors own 79.50% of the company’s stock.

MODN opened at $13.73 on Friday. Model N Inc has a twelve month low of $12.60 and a twelve month high of $20.33. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.31.

Model N (NYSE:MODN) last posted its quarterly earnings data on Tuesday, November 6th. The software maker reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.05. The company had revenue of $36.70 million during the quarter, compared to analysts’ expectations of $35.49 million. Model N had a negative net margin of 18.24% and a negative return on equity of 54.52%. Model N’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) earnings per share. As a group, research analysts forecast that Model N Inc will post -0.36 EPS for the current year.

Several equities research analysts have recently weighed in on the stock. Craig Hallum decreased their price objective on shares of Model N from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, November 7th. Needham & Company LLC cut shares of Model N from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. ValuEngine cut shares of Model N from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. CIBC assumed coverage on shares of Model N in a research report on Friday, October 19th. They set an “outperform” rating for the company. Finally, Oppenheimer assumed coverage on shares of Model N in a research report on Friday, October 19th. They set an “outperform” rating and a $23.00 price objective for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $22.29.

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Model N Company Profile

Model N, Inc provides revenue management cloud solutions for the life sciences, technology, and manufacturing companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, Revenue Cloud for High Tech, and Revenue Cloud. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.

See Also: Balance Sheet

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

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