Mirae Asset Global Investments Co. Ltd. Purchases 1,043 Shares of Model N, Inc. (NYSE:MODN)

Mirae Asset Global Investments Co. Ltd. grew its position in Model N, Inc. (NYSE:MODN) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,130 shares of the software maker’s stock after purchasing an additional 1,043 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Model N were worth $461,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Artisan Partners Limited Partnership grew its stake in shares of Model N by 14.6% in the third 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 last quarter. Vanguard Group Inc. grew its stake in shares of Model N by 5.1% in the third 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 last quarter. Summit Creek Advisors LLC grew its stake in shares of Model N by 0.4% in the third quarter. Summit Creek Advisors LLC now owns 436,097 shares of the software maker’s stock worth $10,645,000 after acquiring an additional 1,731 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Model N in the fourth quarter worth $7,964,000. Finally, Comerica Bank acquired a new stake in shares of Model N in the third quarter worth $7,185,000.

Model N Stock Up 0.1 %

Shares of NYSE:MODN opened at $29.65 on Friday. Model N, Inc. has a 52 week low of $20.90 and a 52 week high of $35.96. 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 company’s fifty day moving average is $27.04 and its 200-day moving average is $25.87. The company has a market capitalization of $1.16 billion, a PE ratio of -35.30 and a beta of 0.70.

Model N (NYSE:MODN) last issued its earnings results on Tuesday, February 6th. The software maker reported $0.01 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $63.49 million during the quarter, compared to analyst estimates of $62.12 million. Equities research analysts predict that Model N, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dave Yarnold sold 5,000 shares of Model N stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $26.88, for a total value of $134,400.00. Following the completion of the transaction, the director now directly owns 22,012 shares of the company’s stock, valued at $591,682.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Dave Yarnold sold 5,000 shares of Model N stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $26.88, for a total value of $134,400.00. Following the completion of the transaction, the director now directly owns 22,012 shares of the company’s stock, valued at $591,682.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura Selig sold 4,770 shares of Model N stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $26.38, for a total value of $125,832.60. Following the completion of the transaction, the insider now directly owns 143,866 shares of the company’s stock, valued at $3,795,185.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,616 shares of company stock worth $1,897,243. Corporate insiders own 2.55% of the company’s stock.

Wall Street Analysts Forecast Growth

MODN has been the topic of several research analyst reports. Craig Hallum restated a “hold” rating and issued a $30.00 price objective on shares of Model N in a research note on Tuesday, April 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $30.00 price target on shares of Model N in a research note on Tuesday, April 9th. JMP Securities reiterated a “market perform” rating on shares of Model N in a research note on Tuesday. StockNews.com assumed coverage on shares of Model N in a research note on Friday. They set a “hold” rating on the stock. Finally, Robert W. Baird reiterated a “neutral” rating and set a $30.00 price target on shares of Model N in a research note on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.80.

Model N Profile

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.