Model N Inc (MODN) Holdings Boosted by Citadel Advisors LLC

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Citadel Advisors LLC raised its holdings in Model N Inc (NYSE:MODN) by 35.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 359,913 shares of the software maker’s stock after purchasing an additional 94,750 shares during the period. Citadel Advisors LLC owned about 1.15% of Model N worth $5,704,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. raised its position in shares of Model N by 25.0% during the 3rd quarter. BlackRock Inc. now owns 2,177,385 shares of the software maker’s stock valued at $34,511,000 after acquiring an additional 434,804 shares in the last quarter. FMR LLC raised its position in shares of Model N by 83.9% during the 3rd quarter. FMR LLC now owns 2,126,685 shares of the software maker’s stock valued at $33,708,000 after acquiring an additional 970,095 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Model N by 1.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,398,000 shares of the software maker’s stock valued at $26,003,000 after acquiring an additional 14,800 shares in the last quarter. First Light Asset Management LLC raised its position in shares of Model N by 25.2% during the 2nd quarter. First Light Asset Management LLC now owns 1,339,922 shares of the software maker’s stock valued at $24,923,000 after acquiring an additional 269,899 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its position in shares of Model N by 976.8% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 882,446 shares of the software maker’s stock valued at $13,987,000 after acquiring an additional 800,492 shares in the last quarter. 70.40% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the company. Zacks Investment Research lowered Model N from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. CIBC assumed coverage on Model N in a research report on Friday, October 19th. They set an “outperform” rating on the stock. ValuEngine raised Model N from a “hold” rating to a “buy” rating in a research report on Wednesday. Craig Hallum dropped their price target on Model N from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, November 7th. Finally, Oppenheimer assumed coverage on Model N in a research report on Friday, October 19th. They set an “outperform” rating and a $23.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Model N has a consensus rating of “Buy” and a consensus target price of $22.29.

Shares of MODN opened at $14.17 on Friday. The firm has a market cap of $432.09 million, a P/E ratio of -19.41 and a beta of 0.79. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.31. Model N Inc has a 12 month low of $12.60 and a 12 month high of $20.33.

Model N (NYSE:MODN) last issued its quarterly earnings data on Tuesday, November 6th. The software maker reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.05. The firm had revenue of $36.70 million during the quarter, compared to the consensus estimate of $35.49 million. Model N had a negative return on equity of 54.52% and a negative net margin of 18.24%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) EPS. On average, equities analysts forecast that Model N Inc will post -0.36 earnings per share for the current fiscal year.

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About Model N

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.

See Also: Diversification

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

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