Wells Fargo & Company MN lifted its position in Medidata Solutions Inc (NASDAQ:MDSO) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 219,054 shares of the company’s stock after purchasing an additional 8,658 shares during the period. Wells Fargo & Company MN owned about 0.37% of Medidata Solutions worth $17,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in Medidata Solutions by 27.7% during the second quarter. State Street Corp now owns 1,828,913 shares of the company’s stock valued at $143,022,000 after acquiring an additional 396,793 shares in the last quarter. American Century Companies Inc. grew its stake in Medidata Solutions by 610.9% during the third quarter. American Century Companies Inc. now owns 1,186,843 shares of the company’s stock valued at $92,645,000 after acquiring an additional 1,019,883 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Medidata Solutions by 2,994.6% during the third quarter. Canada Pension Plan Investment Board now owns 1,151,200 shares of the company’s stock valued at $89,863,000 after acquiring an additional 1,114,000 shares in the last quarter. Northern Trust Corp grew its stake in shares of Medidata Solutions by 32.5% in the 2nd quarter. Northern Trust Corp now owns 932,450 shares of the company’s stock worth $72,918,000 after buying an additional 228,915 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Medidata Solutions by 10.5% in the 2nd quarter. Janus Henderson Group PLC now owns 882,164 shares of the company’s stock worth $68,985,000 after buying an additional 84,161 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Medidata Solutions Inc (MDSO) traded up $1.06 on Friday, reaching $66.90. 423,310 shares of the company were exchanged, compared to its average volume of 431,922. Medidata Solutions Inc has a one year low of $47.77 and a one year high of $85.92. The company has a market cap of $3,850.00, a price-to-earnings ratio of 95.57, a price-to-earnings-growth ratio of 3.36 and a beta of 1.69. The company has a quick ratio of 3.37, a current ratio of 1.29 and a debt-to-equity ratio of 0.61.
Medidata Solutions (NASDAQ:MDSO) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $140.08 million during the quarter, compared to analyst estimates of $141.27 million. Medidata Solutions had a net margin of 7.84% and a return on equity of 11.54%. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. equities analysts predict that Medidata Solutions Inc will post 0.78 EPS for the current year.
In other news, EVP Michael I. Otner sold 10,000 shares of Medidata Solutions stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $70.88, for a total value of $708,800.00. Following the transaction, the executive vice president now owns 80,674 shares of the company’s stock, valued at approximately $5,718,173.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Taylor sold 5,000 shares of Medidata Solutions stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $71.39, for a total transaction of $356,950.00. Following the completion of the transaction, the director now directly owns 49,372 shares in the company, valued at approximately $3,524,667.08. The disclosure for this sale can be found here. Insiders have sold a total of 239,010 shares of company stock worth $16,437,036 in the last three months. Insiders own 5.80% of the company’s stock.
A number of equities analysts have commented on MDSO shares. KeyCorp reissued a “buy” rating and issued a $86.00 price objective on shares of Medidata Solutions in a research note on Sunday, September 17th. Royal Bank of Canada started coverage on shares of Medidata Solutions in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $82.00 price objective for the company. Zacks Investment Research raised shares of Medidata Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Wells Fargo & Co dropped their price objective on shares of Medidata Solutions from $83.00 to $80.00 and set a “market perform” rating for the company in a research note on Friday, October 27th. Finally, SunTrust Banks reissued a “buy” rating and issued a $92.00 price objective on shares of Medidata Solutions in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $84.54.
About Medidata Solutions
Medidata Solutions Inc (Medidata) is a provider of cloud-based solutions for life sciences. The Company provides cloud-based solutions for clinical research in life sciences, offering platform technology that focuses on the clinical development. The Company’s plan study addresses three areas to ensure optimal study design, grant development and negotiation, and investigator payments.
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