Federated Hermes Inc. Has $1.87 Million Stake in Model N, Inc. (NYSE:MODN)

Federated Hermes Inc. trimmed its holdings in shares of Model N, Inc. (NYSE:MODN - Free Report) by 53.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,532 shares of the software maker's stock after selling 81,217 shares during the period. Federated Hermes Inc. owned about 0.18% of Model N worth $1,872,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. C M Bidwell & Associates Ltd. acquired a new position in Model N during the third quarter valued at approximately $34,000. International Assets Investment Management LLC boosted its position in Model N by 1,594.0% during the 4th quarter. International Assets Investment Management LLC now owns 2,558 shares of the software maker's stock worth $69,000 after purchasing an additional 2,407 shares during the period. SG Americas Securities LLC acquired a new stake in Model N in the 4th quarter valued at $115,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Model N by 27.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,054 shares of the software maker's stock valued at $197,000 after purchasing an additional 1,743 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Model N by 14.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,235 shares of the software maker's stock valued at $249,000 after purchasing an additional 1,181 shares during the period.

Insider Transactions at Model N

In related news, CFO John Ederer sold 8,018 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $25.31, for a total transaction of $202,935.58. Following the completion of the transaction, the chief financial officer now owns 307,127 shares in the company, valued at approximately $7,773,384.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Laura Selig sold 4,770 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $26.38, for a total value of $125,832.60. Following the sale, the insider now directly owns 143,866 shares in the company, valued at approximately $3,795,185.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John Ederer sold 8,018 shares of Model N stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $25.31, for a total value of $202,935.58. Following the sale, the chief financial officer now directly owns 307,127 shares in the company, valued at approximately $7,773,384.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,616 shares of company stock worth $1,897,243. 2.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MODN shares. Craig Hallum reaffirmed a "hold" rating and issued a $30.00 target price on shares of Model N in a research report on Tuesday, April 9th. Needham & Company LLC restated a "hold" rating on shares of Model N in a report on Monday, April 22nd. JMP Securities reiterated a "market perform" rating on shares of Model N in a research note on Tuesday, April 23rd. Royal Bank of Canada restated a "sector perform" rating and issued a $30.00 target price on shares of Model N in a research note on Tuesday, April 9th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $30.00 price objective on shares of Model N in a report on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $31.80.

Model N Stock Up 0.0 %

NYSE:MODN traded up $0.01 during mid-day trading on Monday, reaching $29.65. The stock had a trading volume of 677,088 shares, compared to its average volume of 587,284. The stock's 50 day simple moving average is $27.12 and its two-hundred day simple moving average is $25.93. Model N, Inc. has a 1-year low of $20.90 and a 1-year high of $35.96. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -35.30 and a beta of 0.70. The company has a debt-to-equity ratio of 2.26, a current ratio of 4.00 and a quick ratio of 4.00.

Model N (NYSE:MODN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). Model N had a negative net margin of 12.48% and a positive return on equity of 5.79%. The firm had revenue of $63.49 million during the quarter, compared to the consensus estimate of $62.12 million. Equities analysts anticipate that Model N, Inc. will post 0.2 EPS for the current year.

About Model N

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.