New York State Common Retirement Fund Trims Stock Position in Model N, Inc. (NYSE:MODN)

New York State Common Retirement Fund trimmed its stake in Model N, Inc. (NYSE:MODN) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,321 shares of the software maker’s stock after selling 627 shares during the period. New York State Common Retirement Fund owned approximately 0.67% of Model N worth $7,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. purchased a new stake in Model N in the third quarter valued at approximately $34,000. International Assets Investment Management LLC increased its holdings in shares of Model N by 1,594.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,558 shares of the software maker’s stock valued at $69,000 after acquiring an additional 2,407 shares during the period. SG Americas Securities LLC purchased a new stake in Model N in the 4th quarter valued at $115,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Model N by 27.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,054 shares of the software maker’s stock worth $197,000 after purchasing an additional 1,743 shares during the period. Finally, Aigen Investment Management LP grew its position in Model N by 23.3% during the 3rd quarter. Aigen Investment Management LP now owns 9,394 shares of the software maker’s stock worth $229,000 after purchasing an additional 1,778 shares during the last quarter.

Model N Price Performance

Model N stock opened at $29.81 on Friday. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 2.26. The firm’s 50-day simple moving average is $27.49 and its 200 day simple moving average is $26.07. Model N, Inc. has a 52 week low of $20.90 and a 52 week high of $35.96. The firm has a market capitalization of $1.16 billion, a PE ratio of -35.49 and a beta of 0.68.

Model N (NYSE:MODN) last released its quarterly 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 business had revenue of $63.49 million during the quarter, compared to analyst estimates of $62.12 million. On average, equities research analysts predict that Model N, Inc. will post 0.2 EPS for the current fiscal year.

Insider Activity

In related news, insider Laura Selig sold 2,655 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $25.32, for a total value of $67,224.60. Following the completion of the transaction, the insider now owns 141,517 shares of the company’s stock, valued at approximately $3,583,210.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CRO Christopher Lyon sold 7,862 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $26.38, for a total transaction of $207,399.56. Following the sale, the executive now owns 237,845 shares in the company, valued at $6,274,351.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laura Selig sold 2,655 shares of Model N stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $25.32, for a total value of $67,224.60. Following the completion of the sale, the insider now directly owns 141,517 shares of the company’s stock, valued at approximately $3,583,210.44. The disclosure for this sale can be found here. Insiders have sold 72,616 shares of company stock worth $1,897,243 over the last three months. 2.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MODN shares. JMP Securities reiterated a “market perform” rating on shares of Model N in a research note on Tuesday, April 23rd. Craig Hallum reiterated a “hold” rating and issued a $30.00 target price on shares of Model N in a research note on Tuesday, April 9th. Morgan Stanley restated an “equal weight” rating and set a $30.00 price target (down previously from $37.00) on shares of Model N in a research note on Wednesday, April 10th. StockNews.com initiated coverage on shares of Model N in a research report on Saturday. They issued a “hold” rating on the stock. Finally, Robert W. Baird restated a “neutral” rating and set a $30.00 price objective on shares of Model N in a research report on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.80.

Model N Company 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.