Century Capital Management LLC lowered its stake in shares of Medidata Solutions Inc (NASDAQ:MDSO) by 50.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,035 shares of the company’s stock after selling 65,964 shares during the period. Century Capital Management LLC’s holdings in Medidata Solutions were worth $3,694,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in MDSO. Campbell & CO Investment Adviser LLC bought a new stake in Medidata Solutions during the first quarter valued at about $212,000. Quantitative Investment Management LLC raised its stake in Medidata Solutions by 57.1% in the first quarter. Quantitative Investment Management LLC now owns 50,100 shares of the company’s stock valued at $2,890,000 after buying an additional 18,200 shares in the last quarter. State of Tennessee Treasury Department raised its stake in Medidata Solutions by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 51,114 shares of the company’s stock valued at $2,949,000 after buying an additional 7,714 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Medidata Solutions by 1.8% in the first quarter. Parametric Portfolio Associates LLC now owns 91,576 shares of the company’s stock valued at $5,283,000 after buying an additional 1,618 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its stake in Medidata Solutions by 87.3% in the first quarter. Eagle Asset Management Inc. now owns 150,528 shares of the company’s stock valued at $8,683,000 after buying an additional 70,175 shares in the last quarter. 99.63% of the stock is owned by institutional investors and hedge funds.
Medidata Solutions Inc (NASDAQ:MDSO) traded up 1.71% during trading on Friday, hitting $70.68. The stock had a trading volume of 541,760 shares. Medidata Solutions Inc has a 52-week low of $41.65 and a 52-week high of $72.13. The firm’s 50-day moving average price is $64.64 and its 200-day moving average price is $56.11. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 120.00 and a beta of 1.61.
Medidata Solutions (NASDAQ:MDSO) last posted its earnings results on Wednesday, April 26th. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.20. Medidata Solutions had a return on equity of 10.82% and a net margin of 6.25%. The firm had revenue of $126.80 million for the quarter, compared to analysts’ expectations of $125.90 million. During the same period last year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 21.7% on a year-over-year basis. Analysts predict that Medidata Solutions Inc will post $1.29 EPS for the current fiscal year.
Several research firms have issued reports on MDSO. Zacks Investment Research lowered Medidata Solutions from a “buy” rating to a “hold” rating in a report on Wednesday. KeyCorp boosted their price target on Medidata Solutions from $71.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, May 11th. Jefferies Group LLC raised Medidata Solutions from an “underperform” rating to a “hold” rating and cut their price target for the company from $47.00 to $46.00 in a report on Monday, May 1st. Morgan Stanley upped their price objective on Medidata Solutions from $63.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Finally, Needham & Company LLC upped their price objective on Medidata Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $67.67.
In other news, COO Michael L. Capone sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $69.46, for a total transaction of $347,300.00. Following the sale, the chief operating officer now directly owns 171,754 shares in the company, valued at approximately $11,930,032.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael I. Otner sold 7,500 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $66.39, for a total value of $497,925.00. Following the sale, the executive vice president now owns 78,419 shares in the company, valued at $5,206,237.41. The disclosure for this sale can be found here. Insiders have sold a total of 30,464 shares of company stock worth $1,862,735 over the last 90 days. Insiders own 6.70% of the company’s stock.
About Medidata Solutions
Medidata Solutions Inc (Medidata) is a provider of cloud-based solutions for life sciences. The Company provides cloud-based solutions for clinical research in life sciences, offering platform technology that focuses on the clinical development. The Company’s plan study addresses three areas to ensure optimal study design, grant development and negotiation, and investigator payments.
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