California State Teachers Retirement System increased its stake in Model N Inc. (NYSE:MODN) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 46,584 shares of the company’s stock after buying an additional 2,218 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Model N worth $622,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Model N by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 85,865 shares of the company’s stock valued at $1,147,000 after buying an additional 8,421 shares in the last quarter. Emerald Advisers Inc. PA boosted its stake in shares of Model N by 1.1% in the second quarter. Emerald Advisers Inc. PA now owns 729,137 shares of the company’s stock valued at $9,734,000 after buying an additional 7,730 shares in the last quarter. Thomson Horstmann & Bryant Inc. bought a new stake in shares of Model N during the second quarter valued at about $821,000. RGM Capital LLC boosted its stake in shares of Model N by 3.4% in the first quarter. RGM Capital LLC now owns 2,401,177 shares of the company’s stock valued at $25,861,000 after buying an additional 78,726 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Model N by 20.3% in the first quarter. Geode Capital Management LLC now owns 122,369 shares of the company’s stock valued at $1,317,000 after buying an additional 20,679 shares in the last quarter. Institutional investors own 67.47% of the company’s stock.
Model N Inc. (NYSE:MODN) traded down 0.29% on Thursday, reaching $10.48. 29,720 shares of the company’s stock traded hands. Model N Inc. has a 12-month low of $9.19 and a 12-month high of $13.98. The stock’s market cap is $289.95 million. The stock has a 50 day moving average price of $10.71 and a 200 day moving average price of $11.64.
Model N (NYSE:MODN) last posted its quarterly earnings data on Monday, August 8th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.04. The firm earned $27.90 million during the quarter, compared to analyst estimates of $27.34 million. Model N had a negative net margin of 29.19% and a negative return on equity of 37.01%. Model N’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) EPS. Analysts forecast that Model N Inc. will post ($0.66) EPS for the current year.
Several research analysts have weighed in on MODN shares. JMP Securities downgraded shares of Model N from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 9th. Deutsche Bank AG reiterated a “buy” rating and issued a $16.00 price target (down from $18.00) on shares of Model N in a research report on Tuesday, August 9th. Finally, Zacks Investment Research downgraded shares of Model N from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th.
In related news, SVP Eric Carrasquilla sold 4,031 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $10.61, for a total transaction of $42,768.91. Following the completion of the transaction, the senior vice president now owns 59,691 shares in the company, valued at approximately $633,321.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 20.90% of the company’s stock.
Model N Company Profile
Model N, Inc is a provider of revenue management cloud solutions for life science and technology companies. The Company’s solutions enable its customers to manage revenue compliance risk. The Company’s solutions include Revenue Enterprise Cloud, Revenue Intelligence Cloud and Revvy. The Company provides solutions that span the organizational and operational boundaries of functions, such as sales, marketing and finance, and serve as a system of record for revenue management processes, including pricing, contracts, rebates, incentives and regulatory compliance.
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