Almanack Investment Partners LLC. Buys New Stake in Model N, Inc. (NYSE:MODN)

Posted by Defense World Staff on Mar 15th, 2023

Almanack Investment Partners LLC. bought a new stake in Model N, Inc. (NYSE:MODN – Get Rating) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,400 shares of the software maker’s stock, valued at approximately $113,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MODN. UBS Asset Management Americas Inc. lifted its position in Model N by 0.8% in the third quarter. UBS Asset Management Americas Inc. now owns 35,137 shares of the software maker’s stock worth $1,203,000 after buying an additional 275 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Model N by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 37,018 shares of the software maker’s stock worth $947,000 after buying an additional 322 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Model N by 35.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,664 shares of the software maker’s stock worth $57,000 after buying an additional 431 shares during the last quarter. Rhumbline Advisers lifted its position in Model N by 1.4% in the first quarter. Rhumbline Advisers now owns 37,089 shares of the software maker’s stock worth $998,000 after buying an additional 508 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Model N by 13.1% in the first quarter. PNC Financial Services Group Inc. now owns 5,080 shares of the software maker’s stock worth $136,000 after buying an additional 588 shares during the last quarter. 96.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MODN has been the subject of a number of analyst reports. StockNews.com upgraded Model N from a “hold” rating to a “buy” rating in a research report on Monday. Truist Financial lifted their target price on Model N from $45.00 to $52.00 in a research report on Wednesday, February 8th. Needham & Company LLC lifted their target price on Model N from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Robert W. Baird lifted their target price on Model N to $44.00 in a research report on Wednesday, December 14th. Finally, BTIG Research lifted their target price on Model N from $42.00 to $48.00 in a research report on Wednesday, February 8th.

Insider Activity at Model N

In other Model N news, CEO Jason Blessing sold 20,304 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $35.04, for a total value of $711,452.16. Following the completion of the sale, the chief executive officer now directly owns 695,506 shares in the company, valued at $24,370,530.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Model N news, CEO Jason Blessing sold 20,304 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $35.04, for a total value of $711,452.16. Following the completion of the sale, the chief executive officer now directly owns 695,506 shares in the company, valued at $24,370,530.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark Albert Anderson sold 5,961 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $40.73, for a total transaction of $242,791.53. Following the completion of the sale, the insider now owns 214,023 shares of the company’s stock, valued at $8,717,156.79. The disclosure for this sale can be found here. Insiders have sold a total of 48,376 shares of company stock valued at $1,728,153 over the last ninety days. 2.30% of the stock is owned by company insiders.

Model N Stock Up 2.2 %

Shares of MODN stock opened at $32.15 on Wednesday. The company’s 50 day moving average is $37.48 and its 200 day moving average is $36.53. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.85 and a quick ratio of 2.85. Model N, Inc. has a 52-week low of $20.95 and a 52-week high of $43.18.

Model N (NYSE:MODN – Get Rating) last issued its quarterly earnings data on Tuesday, February 7th. The software maker reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $59.15 million for the quarter, compared to analysts’ expectations of $57.51 million. Model N had a negative net margin of 11.65% and a negative return on equity of 7.52%. As a group, analysts predict that Model N, Inc. will post 0.02 earnings per share for the current fiscal year.

Model N Company Profile

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Model N, Inc engages in developing and monetizing revenue management solutions. It offers cloud revenue optimization and compliance to pharmaceutical, medical technology, semiconductor, and high-tech companies. Its products provide business processes such as pricing, quoting, contracting, regulatory compliance, rebates and incentives.

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

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