Model N, Inc. (MODN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Model N, Inc. (NYSE:MODN) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,744 shares of the software maker’s stock after selling 215 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Model N worth $262,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Redmile Group LLC increased its stake in shares of Model N by 4.4% in the second quarter. Redmile Group LLC now owns 858,314 shares of the software maker’s stock worth $11,416,000 after buying an additional 36,000 shares during the last quarter. State Street Corp increased its stake in Model N by 4.7% during the second quarter. State Street Corp now owns 372,302 shares of the software maker’s stock valued at $4,953,000 after purchasing an additional 16,720 shares during the last quarter. Lyon Street Capital LLC bought a new stake in Model N during the second quarter valued at $3,594,000. Goldman Sachs Group Inc. bought a new stake in Model N during the second quarter valued at $221,000. Finally, First Light Asset Management LLC increased its stake in Model N by 0.6% during the second quarter. First Light Asset Management LLC now owns 423,211 shares of the software maker’s stock valued at $5,629,000 after purchasing an additional 2,461 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

In other news, Director Alan S. Henricks sold 4,730 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $14.59, for a total transaction of $69,010.70. Following the completion of the transaction, the director now owns 40,134 shares of the company’s stock, valued at $585,555.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David Barter sold 3,596 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $14.65, for a total transaction of $52,681.40. Following the transaction, the chief financial officer now directly owns 111,676 shares of the company’s stock, valued at approximately $1,636,053.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,801 shares of company stock valued at $317,080. Corporate insiders own 20.40% of the company’s stock.

Several research firms have weighed in on MODN. Zacks Investment Research lowered shares of Model N from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. ValuEngine upgraded shares of Model N from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Model N from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Finally, Raymond James Financial reiterated a “hold” rating on shares of Model N in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Model N presently has an average rating of “Buy” and an average target price of $14.75.

Shares of Model N, Inc. (NYSE:MODN) traded up $0.10 on Thursday, hitting $15.95. 142,000 shares of the stock traded hands, compared to its average volume of 151,723. Model N, Inc. has a 52 week low of $7.90 and a 52 week high of $16.75. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.13 and a quick ratio of 1.13.

Model N (NYSE:MODN) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. Model N had a negative net margin of 30.15% and a negative return on equity of 55.26%. The company had revenue of $35.61 million during the quarter, compared to the consensus estimate of $34.86 million. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. analysts anticipate that Model N, Inc. will post -0.64 earnings per share for the current year.

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About Model N

Model N, Inc is a provider of revenue management solutions for life science and technology companies. The Company’s solutions enable its customers to maximize revenues and reduce revenue compliance risk by transforming their revenue life cycle from a series of tactical, disjointed operations into a strategic end-to-end process.

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Institutional Ownership by Quarter for Model N (NYSE:MODN)

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