Massachusetts Financial Services Co. MA Buys 250,404 Shares of Model N Inc (MODN)

Massachusetts Financial Services Co. MA raised its stake in shares of Model N Inc (NYSE:MODN) by 59.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 668,780 shares of the software maker’s stock after buying an additional 250,404 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Model N were worth $10,600,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MODN. Barclays PLC raised its stake in shares of Model N by 153.5% in the first quarter. Barclays PLC now owns 9,550 shares of the software maker’s stock worth $171,000 after purchasing an additional 5,783 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of Model N in the second quarter worth $361,000. Mesirow Financial Investment Management Inc. purchased a new position in shares of Model N in the second quarter worth $372,000. Engineers Gate Manager LP raised its stake in shares of Model N by 31.1% in the second quarter. Engineers Gate Manager LP now owns 22,223 shares of the software maker’s stock worth $413,000 after purchasing an additional 5,276 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Model N by 20.6% in the second quarter. Rhumbline Advisers now owns 24,854 shares of the software maker’s stock worth $462,000 after purchasing an additional 4,238 shares during the last quarter. Institutional investors and hedge funds own 71.47% of the company’s stock.

NYSE:MODN opened at $14.95 on Wednesday. Model N Inc has a 52-week low of $13.36 and a 52-week high of $20.33. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $472.51 million, a price-to-earnings ratio of -18.01 and a beta of 0.77.

Model N (NYSE:MODN) last released its quarterly earnings results on Tuesday, November 6th. The software maker reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.08. Model N had a negative return on equity of 61.62% and a negative net margin of 21.89%. The business had revenue of $36.70 million during the quarter, compared to analyst estimates of $35.49 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Model N’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities research analysts predict that Model N Inc will post -0.78 EPS for the current year.

Several research analysts have recently weighed in on the company. Zacks Investment Research cut Model N from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. CIBC assumed coverage on Model N in a research note on Friday, October 19th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. boosted their price target on Model N to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 7th. They noted that the move was a valuation call. ValuEngine upgraded Model N from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Finally, Oppenheimer assumed coverage on Model N in a report on Friday, October 19th. They issued an “outperform” rating and a $23.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Model N currently has a consensus rating of “Buy” and a consensus target price of $22.67.

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Model N Company Profile

Model N, Inc provides revenue management cloud solutions for the life sciences, technology, and manufacturing companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, Revenue Cloud for High Tech, and Revenue Cloud. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.

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

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