PNC Financial Services Group Inc. Reduces Stock Position in Model N, Inc. (NYSE:MODN)

PNC Financial Services Group Inc. trimmed its position in Model N, Inc. (NYSE:MODN) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,571 shares of the software maker’s stock after selling 2,329 shares during the period. PNC Financial Services Group Inc.’s holdings in Model N were worth $204,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MODN. Mirae Asset Global Investments Co. Ltd. increased its stake in Model N by 6.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,130 shares of the software maker’s stock valued at $461,000 after purchasing an additional 1,043 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Model N by 14.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,235 shares of the software maker’s stock valued at $249,000 after acquiring an additional 1,181 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Model N by 7.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 31,638 shares of the software maker’s stock worth $852,000 after acquiring an additional 2,201 shares during the period. Deutsche Bank AG boosted its position in shares of Model N by 12.5% in the third quarter. Deutsche Bank AG now owns 20,879 shares of the software maker’s stock worth $510,000 after acquiring an additional 2,325 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Model N by 1,594.0% in the fourth quarter. International Assets Investment Management LLC now owns 2,558 shares of the software maker’s stock valued at $69,000 after purchasing an additional 2,407 shares during the period.

Model N Price Performance

Shares of MODN stock opened at $30.00 on Wednesday. The firm has a fifty day simple moving average of $29.85 and a 200-day simple moving average of $27.95. The company has a market capitalization of $1.18 billion, a PE ratio of -3,000,000.00 and a beta of 0.68. Model N, Inc. has a twelve month low of $20.90 and a twelve month high of $35.96. The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 2.05.

Model N (NYSE:MODN) last posted its quarterly earnings data on Monday, May 6th. The software maker reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Model N had a net margin of 0.10% and a return on equity of 6.94%. The firm had revenue of $65.10 million during the quarter, compared to analysts’ expectations of $64.45 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that Model N, Inc. will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Model N

In related news, insider Laura Selig sold 5,411 shares of Model N stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $29.79, for a total value of $161,193.69. Following the completion of the sale, the insider now owns 136,106 shares in the company, valued at $4,054,597.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CRO Christopher Lyon sold 8,786 shares of Model N stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $29.79, for a total value of $261,734.94. Following the completion of the transaction, the executive now owns 220,935 shares in the company, valued at approximately $6,581,653.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Laura Selig sold 5,411 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $29.79, for a total value of $161,193.69. Following the completion of the sale, the insider now owns 136,106 shares of the company’s stock, valued at $4,054,597.74. The disclosure for this sale can be found here. Insiders sold a total of 51,870 shares of company stock worth $1,545,545 in the last 90 days. 2.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MODN has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Model N in a report on Tuesday, May 7th. Morgan Stanley restated an “equal weight” rating and set a $30.00 price target (down from $37.00) on shares of Model N in a research note on Wednesday, April 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Model N in a research note on Monday, April 8th. Craig Hallum reiterated a “hold” rating and set a $30.00 target price on shares of Model N in a report on Tuesday, April 9th. Finally, StockNews.com initiated coverage on shares of Model N in a research report on Saturday. They set a “hold” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Model N presently has a consensus rating of “Hold” and a consensus price target of $31.80.

Model N Company Profile

Model N, Inc provides cloud revenue management solutions for life sciences and high-tech companies in the United States and internationally. The company offers Global Pricing Management, which minimizes price erosion of products; Global Tender Management that enhances revenue by enabling segmentation and targeting, optimal bid pricing, and post-award tracking; Provider Management, which minimizes rebate overpayments; Payer Management that minimizes revenue leakage and noncompliance of complex contracts; Government Pricing, which optimizes revenue, and reduces the risk of fines and other penalties; and Medicaid that enhances compliance with regulatory requirements and payments of rebate claims on a timely basis and at correct rates for government Medicaid programs, as well as Validata, State Pricing Transparency Management, Advanced Membership Management, and Intelligence Cloud.