Thrive Wealth Management LLC Trims Stock Position in Model N, Inc. (NYSE:MODN)

Thrive Wealth Management LLC cut its position in shares of Model N, Inc. (NYSE:MODN) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,143 shares of the software maker’s stock after selling 1,480 shares during the period. Thrive Wealth Management LLC owned approximately 0.10% of Model N worth $1,086,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MODN. Conestoga Capital Advisors LLC raised its stake in shares of Model N by 15.3% in the 4th quarter. Conestoga Capital Advisors LLC now owns 3,824,894 shares of the software maker’s stock valued at $103,004,000 after acquiring an additional 507,090 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Model N in the 4th quarter valued at approximately $7,964,000. Comerica Bank purchased a new stake in shares of Model N in the 3rd quarter valued at approximately $7,185,000. Sea Cliff Partners Management LP purchased a new stake in shares of Model N in the 4th quarter valued at approximately $6,078,000. Finally, Bares Capital Management Inc. raised its stake in shares of Model N by 63.8% in the 4th quarter. Bares Capital Management Inc. now owns 565,000 shares of the software maker’s stock valued at $15,215,000 after acquiring an additional 220,000 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MODN. Morgan Stanley reaffirmed an “equal weight” rating and set a $30.00 target price (down from $37.00) on shares of Model N in a research note on Wednesday, April 10th. Craig Hallum reaffirmed a “hold” rating and set a $30.00 target price on shares of Model N in a research note on Tuesday, April 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $30.00 price target on shares of Model N in a report on Tuesday, April 9th. Needham & Company LLC reiterated a “hold” rating on shares of Model N in a report on Tuesday, May 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Model N in a report on Monday, May 6th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.80.

Insider Activity at Model N

In related news, insider Laura Selig sold 5,411 shares of the company’s 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 approximately $4,054,597.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Model N news, insider Laura Selig sold 5,411 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $29.79, for a total transaction of $161,193.69. Following the completion of the transaction, the insider now owns 136,106 shares in the company, valued at approximately $4,054,597.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jason Blessing sold 20,179 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $29.79, for a total transaction of $601,132.41. Following the transaction, the chief executive officer now owns 884,172 shares of the company’s stock, valued at approximately $26,339,483.88. 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 insiders.

Model N Stock Performance

Shares of Model N stock remained flat at $30.00 during trading hours on Friday. The business’s 50-day simple moving average is $29.82 and its 200 day simple moving average is $27.75. Model N, Inc. has a fifty-two week low of $20.90 and a fifty-two week 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 released its quarterly earnings results on Monday, May 6th. The software maker reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). Model N had a net margin of 0.10% and a return on equity of 6.94%. The business had revenue of $65.10 million during the quarter, compared to analysts’ expectations of $64.45 million. During the same quarter last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, sell-side analysts expect that Model N, Inc. will post 0.18 earnings per share for the current year.

Model N 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.