Morgan Stanley reduced its position in Model N, Inc. (NYSE:MODN) by 8.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 166,319 shares of the software maker’s stock after selling 15,725 shares during the period. Morgan Stanley owned approximately 0.59% of Model N worth $1,738,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. American International Group Inc. boosted its position in shares of Model N by 7.1% in the first quarter. American International Group Inc. now owns 13,678 shares of the software maker’s stock worth $143,000 after buying an additional 904 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Model N by 32.9% in the first quarter. Parametric Portfolio Associates LLC now owns 24,618 shares of the software maker’s stock worth $257,000 after buying an additional 6,098 shares during the period. Teachers Advisors LLC raised its stake in Model N by 28.7% in the fourth quarter. Teachers Advisors LLC now owns 43,373 shares of the software maker’s stock worth $384,000 after buying an additional 9,674 shares during the period. Essex Investment Management Co. LLC bought a new stake in Model N during the first quarter worth approximately $568,000. Finally, FIL Ltd bought a new stake in Model N during the first quarter worth approximately $1,195,000. 65.87% of the stock is owned by institutional investors and hedge funds.

Shares of Model N, Inc. (NYSE:MODN) traded up 1.311% during midday trading on Thursday, hitting $13.525. The company had a trading volume of 70,539 shares. The company’s market capitalization is $393.48 million. The firm’s 50 day moving average is $13.14 and its 200 day moving average is $11.84. Model N, Inc. has a 52 week low of $6.98 and a 52 week high of $13.75.

Model N (NYSE:MODN) last posted its quarterly earnings data on Tuesday, August 8th. The software maker reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.04. Model N had a negative net margin of 30.85% and a negative return on equity of 52.59%. The company had revenue of $34.20 million for the quarter, compared to analyst estimates of $34.41 million. During the same period in the prior year, the company posted ($0.16) EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. Equities research analysts anticipate that Model N, Inc. will post ($0.62) EPS for the current year.

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A number of equities research analysts have commented on MODN shares. Dougherty & Co started coverage on Model N in a research report on Thursday, June 29th. They issued a “buy” rating and a $17.00 price target on the stock. Chardan Capital started coverage on Model N in a research report on Friday, May 19th. They issued a “buy” rating and a $16.00 price target on the stock. Zacks Investment Research upgraded Model N from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, August 14th. BidaskClub lowered Model N from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Craig Hallum upgraded Model N from a “hold” rating to a “buy” rating in a research report on Tuesday, May 9th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $13.50.

In other news, SVP Amelia Generalis sold 3,758 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $13.30, for a total transaction of $49,981.40. Following the transaction, the senior vice president now directly owns 76,734 shares of the company’s stock, valued at $1,020,562.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 20.40% of the company’s stock.

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.

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

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