Los Angeles Capital Management & Equity Research Inc. lessened its holdings in shares of Model N Inc (NYSE:MODN) by 68.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,615 shares of the software maker’s stock after selling 32,150 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Model N were worth $256,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. PRW Wealth Management LLC acquired a new position in shares of Model N during the fourth quarter valued at $25,000. Great West Life Assurance Co. Can acquired a new position in shares of Model N during the fourth quarter valued at $59,000. Metropolitan Life Insurance Co. NY lifted its stake in shares of Model N by 410.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,045 shares of the software maker’s stock valued at $106,000 after acquiring an additional 6,470 shares during the period. Citigroup Inc. lifted its stake in shares of Model N by 43.6% during the fourth quarter. Citigroup Inc. now owns 11,218 shares of the software maker’s stock valued at $148,000 after acquiring an additional 3,406 shares during the period. Finally, MetLife Investment Advisors LLC lifted its stake in shares of Model N by 55.9% during the third quarter. MetLife Investment Advisors LLC now owns 18,053 shares of the software maker’s stock valued at $286,000 after acquiring an additional 6,470 shares during the period. Institutional investors own 72.37% of the company’s stock.

In other Model N news, CEO Jason Blessing sold 1,733 shares of the stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $16.50, for a total value of $28,594.50. Following the transaction, the chief executive officer now owns 374,504 shares of the company’s stock, valued at $6,179,316. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark Albert Anderson sold 4,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $18.59, for a total value of $74,360.00. Following the completion of the transaction, the senior vice president now directly owns 130,934 shares in the company, valued at approximately $2,434,063.06. The disclosure for this sale can be found here. Insiders sold 39,276 shares of company stock worth $674,206 in the last three months. Insiders own 1.20% of the company’s stock.

NYSE:MODN opened at $19.04 on Thursday. Model N Inc has a 1-year low of $12.60 and a 1-year high of $20.33. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $622.32 million, a price-to-earnings ratio of -26.08 and a beta of 0.60.

Model N (NYSE:MODN) last released its earnings results on Tuesday, May 7th. The software maker reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.20. Model N had a negative return on equity of 56.80% and a negative net margin of 20.30%. The firm had revenue of $34.84 million for the quarter, compared to analyst estimates of $34.52 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The company’s quarterly revenue was down 11.2% on a year-over-year basis. Research analysts anticipate that Model N Inc will post -0.45 EPS for the current year.

Several equities analysts have recently issued reports on MODN shares. Zacks Investment Research raised Model N from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, January 23rd. National Securities reaffirmed a “buy” rating and set a $23.00 price target on shares of Model N in a research note on Tuesday, February 19th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $21.88.

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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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