APG Asset Management N.V. Lowers Holdings in Model N Inc (NYSE:MODN)

APG Asset Management N.V. reduced its position in shares of Model N Inc (NYSE:MODN) by 43.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,850 shares of the software maker’s stock after selling 38,750 shares during the period. APG Asset Management N.V. owned about 0.14% of Model N worth $1,543,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ziegler Capital Management LLC boosted its position in shares of Model N by 3.0% during the second quarter. Ziegler Capital Management LLC now owns 12,731 shares of the software maker’s stock worth $443,000 after buying an additional 366 shares during the period. Gagnon Securities LLC raised its stake in shares of Model N by 6.7% in the first quarter. Gagnon Securities LLC now owns 6,147 shares of the software maker’s stock valued at $137,000 after acquiring an additional 387 shares in the last quarter. HighMark Wealth Management LLC raised its stake in shares of Model N by 44.0% in the second quarter. HighMark Wealth Management LLC now owns 1,267 shares of the software maker’s stock valued at $44,000 after acquiring an additional 387 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Model N by 1.3% in the second quarter. California Public Employees Retirement System now owns 76,921 shares of the software maker’s stock valued at $2,674,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Model N by 2.3% in the first quarter. Swiss National Bank now owns 48,000 shares of the software maker’s stock valued at $1,066,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

MODN opened at $36.27 on Tuesday. The business’s 50-day simple moving average is $38.35 and its 200-day simple moving average is $31.37. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.31 and a current ratio of 3.31. Model N Inc has a one year low of $15.00 and a one year high of $44.56. The stock has a market capitalization of $1.25 billion, a P/E ratio of -77.17 and a beta of 0.99.

Model N (NYSE:MODN) last posted its earnings results on Tuesday, August 4th. The software maker reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.25. Model N had a negative return on equity of 13.21% and a negative net margin of 10.03%. The business had revenue of $41.26 million for the quarter, compared to analysts’ expectations of $39.52 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The business’s revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts forecast that Model N Inc will post -0.22 EPS for the current fiscal year.

In related news, SVP Christopher Lyon sold 1,981 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $39.56, for a total transaction of $78,368.36. Following the transaction, the senior vice president now owns 98,425 shares of the company’s stock, valued at $3,893,693. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jason Blessing sold 10,611 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $39.56, for a total value of $419,771.16. Following the transaction, the chief executive officer now directly owns 451,799 shares in the company, valued at approximately $17,873,168.44. The disclosure for this sale can be found here. Insiders have sold 61,311 shares of company stock worth $2,361,958 in the last quarter. Insiders own 1.60% of the company’s stock.

Several brokerages have recently issued reports on MODN. Needham & Company LLC increased their price objective on Model N from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Craig Hallum raised their price target on Model N from $38.00 to $49.50 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, TheStreet upgraded Model N from a “d+” rating to a “c” rating in a research note on Monday, August 17th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Model N presently has an average rating of “Buy” and an average target price of $36.19.

Model N Profile

Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. 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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