S Squared Technology LLC lowered its position in Model N Inc (NYSE:MODN) by 15.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,676 shares of the software maker’s stock after selling 16,000 shares during the quarter. S Squared Technology LLC’s holdings in Model N were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Trexquant Investment LP acquired a new stake in shares of Model N in the third quarter valued at approximately $351,000. Macquarie Group Ltd. bought a new position in shares of Model N in the second quarter valued at approximately $361,000. Engineers Gate Manager LP boosted its holdings in shares of Model N by 31.1% in the second quarter. Engineers Gate Manager LP now owns 22,223 shares of the software maker’s stock valued at $413,000 after acquiring an additional 5,276 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Model N by 20.6% in the second quarter. Rhumbline Advisers now owns 24,854 shares of the software maker’s stock valued at $462,000 after acquiring an additional 4,238 shares in the last quarter. Finally, Monarch Partners Asset Management LLC bought a new position in shares of Model N in the second quarter valued at approximately $580,000. Institutional investors own 70.40% of the company’s stock.
Several research analysts have recently issued reports on MODN shares. ValuEngine cut shares of Model N from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Oppenheimer started coverage on shares of Model N in a report on Friday, October 19th. They issued an “outperform” rating and a $23.00 price objective for the company. Zacks Investment Research cut shares of Model N from a “buy” rating to a “hold” rating in a report on Monday, August 13th. 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 report on Wednesday, November 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Model N to $23.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $22.29.
Model N (NYSE:MODN) last issued its earnings results on Tuesday, November 6th. The software maker reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.05. The firm 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%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. On average, analysts forecast that Model N Inc will post -0.36 earnings per share for the current fiscal year.
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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.
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