Model N, Inc. (NYSE:MODN) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership cut its holdings in shares of Model N, Inc. (NYSE:MODN) by 4.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,168,453 shares of the software maker’s stock after selling 141,754 shares during the period. Artisan Partners Limited Partnership owned approximately 8.12% of Model N worth $85,326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Conestoga Capital Advisors LLC lifted its stake in Model N by 15.3% in the 4th quarter. Conestoga Capital Advisors LLC now owns 3,824,894 shares of the software maker’s stock valued at $103,004,000 after buying an additional 507,090 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Model N in the 4th quarter valued at about $7,964,000. Comerica Bank purchased a new position in Model N in the 3rd quarter valued at about $7,185,000. Clearbridge Investments LLC lifted its stake in Model N by 8.2% in the 4th quarter. Clearbridge Investments LLC now owns 2,718,760 shares of the software maker’s stock worth $73,216,000 after purchasing an additional 206,292 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Model N by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,644,961 shares of the software maker’s stock worth $64,563,000 after purchasing an additional 128,461 shares in the last quarter.

Insider Activity at Model N

In related news, CRO Christopher Lyon sold 8,124 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $25.26, for a total value of $205,212.24. Following the completion of the sale, the executive now directly owns 229,721 shares of the company’s stock, valued at $5,802,752.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CRO Christopher Lyon sold 8,124 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $25.26, for a total value of $205,212.24. Following the completion of the sale, the executive now directly owns 229,721 shares of the company’s stock, valued at $5,802,752.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Laura Selig sold 2,655 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $25.32, for a total transaction 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 $3,583,210.44. The disclosure for this sale can be found here. Insiders sold a total of 71,167 shares of company stock valued at $2,033,732 over the last ninety days. Insiders own 2.55% of the company’s stock.

Model N Trading Up 0.1 %

Shares of Model N stock traded up $0.02 during trading on Tuesday, hitting $29.86. 361,263 shares of the stock were exchanged, compared to its average volume of 583,103. The firm’s 50-day moving average price is $29.04 and its 200 day moving average price is $26.73. Model N, Inc. has a 12-month low of $20.90 and a 12-month high of $35.96. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.86 and a quick ratio of 3.86.

Model N (NYSE:MODN) last released its quarterly earnings data on Monday, May 6th. The software maker reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). Model N had a return on equity of 6.94% and a net margin of 0.10%. The firm had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $64.45 million. During the same period last year, the firm posted ($0.05) earnings per share. Model N’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts anticipate that Model N, Inc. will post 0.2 EPS for the current year.

Analysts Set New Price Targets

MODN has been the topic of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 target price on shares of Model N in a research note on Tuesday, April 9th. Craig Hallum reissued a “hold” rating and issued a $30.00 target price on shares of Model N in a research note on Tuesday, April 9th. Needham & Company LLC reissued a “hold” rating on shares of Model N in a research note on Tuesday, May 7th. Morgan Stanley reissued an “equal weight” rating and issued a $30.00 target price (down from $37.00) on shares of Model N in a research note on Wednesday, April 10th. Finally, StockNews.com initiated coverage on shares of Model N in a research note on Tuesday. They issued a “hold” rating on the stock. Ten equities research 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, Model N presently has a consensus rating of “Hold” and an average target price of $31.80.

About Model N

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.