Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 3.88MM shares of Model N Inc (MODN). This represents 10.3% of the company.
In their previous filing dated January 24, 2023 they reported 3.73MM shares and 9.98% of the company, an increase in shares of 4.05% and an increase in total ownership of 0.32% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 32.39% Upside
As of February 9, 2023, the average one-year price target for Model N is $46.92. The forecasts range from a low of $42.42 to a high of $54.60. The average price target represents an increase of 32.39% from its latest reported closing price of $35.44.
The projected annual revenue for Model N is $248MM, an increase of 9.43%. The projected annual EPS is $0.95.
What is the Fund Sentiment?
There are 344 funds or institutions reporting positions in Model N. This is an increase of 4 owner(s) or 1.18% in the last quarter. Average portfolio weight of all funds dedicated to MODN is 0.27%, an increase of 20.69%. Total shares owned by institutions decreased in the last three months by 3.97% to 48,255K shares. The put/call ratio of MODN is 0.47, indicating a bullish outlook.
What are large shareholders doing?
Conestoga Capital Advisors holds 3,773K shares representing 10.00% ownership of the company. In it's prior filing, the firm reported owning 4,870K shares, representing a decrease of 29.07%. The firm decreased its portfolio allocation in MODN by 12.21% over the last quarter.
CCASX - Conestoga Small Cap Fund Investors Class holds 3,315K shares representing 8.78% ownership of the company. In it's prior filing, the firm reported owning 3,395K shares, representing a decrease of 2.41%. The firm increased its portfolio allocation in MODN by 39.26% over the last quarter.
Neuberger Berman Group holds 3,147K shares representing 8.34% ownership of the company. In it's prior filing, the firm reported owning 3,166K shares, representing a decrease of 0.62%. The firm decreased its portfolio allocation in MODN by 29.44% over the last quarter.
Artisan Partners Limited Partnership holds 3,101K shares representing 8.22% ownership of the company. In it's prior filing, the firm reported owning 3,094K shares, representing an increase of 0.23%. The firm increased its portfolio allocation in MODN by 39.56% over the last quarter.
First Light Asset Management holds 2,608K shares representing 6.91% ownership of the company. In it's prior filing, the firm reported owning 2,754K shares, representing a decrease of 5.58%. The firm increased its portfolio allocation in MODN by 10.23% over the last quarter.
Model N Background Information
(This description is provided by the company.)
Model N enables life sciences and high tech companies to drive growth and market share, minimizing revenue leakage throughout the revenue lifecycle. With deep industry expertise and solutions purpose-built for these industries, Model N delivers comprehensive visibility, insight and control over the complexities of commercial operations and compliance. Our integrated cloud solution is proven to automate pricing, incentive and contract decisions to scale business profitably and grow revenue. Model N is trusted across more than 120 countries by the world's leading pharmaceutical, medical technology, semiconductor, and high tech companies, including Johnson & Johnson, AstraZeneca, Stryker, Seagate Technology, Broadcom and Microchip Technology.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
