Prudential Financial Inc. cut its stake in shares of Medidata Solutions, Inc. (NASDAQ:MDSO) by 16.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 119,440 shares of the company’s stock after selling 23,520 shares during the period. Prudential Financial Inc. owned 0.21% of Medidata Solutions worth $6,890,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MDSO. 1st Global Advisors Inc. boosted its position in Medidata Solutions by 0.9% in the first quarter. 1st Global Advisors Inc. now owns 8,206 shares of the company’s stock valued at $473,000 after buying an additional 75 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Medidata Solutions by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 6,080 shares of the company’s stock valued at $350,000 after buying an additional 130 shares in the last quarter. Arcadia Investment Management Corp MI boosted its position in Medidata Solutions by 0.6% in the first quarter. Arcadia Investment Management Corp MI now owns 45,895 shares of the company’s stock valued at $2,648,000 after buying an additional 275 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Medidata Solutions by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 22,300 shares of the company’s stock valued at $1,286,000 after buying an additional 300 shares in the last quarter. Finally, BB&T Corp boosted its position in Medidata Solutions by 7.7% in the first quarter. BB&T Corp now owns 5,775 shares of the company’s stock valued at $333,000 after buying an additional 415 shares in the last quarter. 99.66% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Medidata Solutions (NASDAQ:MDSO)

Shares of Medidata Solutions, Inc. (NASDAQ:MDSO) opened at 75.81 on Friday. The firm’s 50-day moving average price is $71.53 and its 200 day moving average price is $59.08. The firm has a market cap of $4.27 billion, a P/E ratio of 128.71 and a beta of 1.86. Medidata Solutions, Inc. has a one year low of $41.65 and a one year high of $80.70.

Medidata Solutions (NASDAQ:MDSO) last announced its quarterly earnings results on Wednesday, April 26th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.20. The business had revenue of $126.80 million during the quarter, compared to the consensus estimate of $125.90 million. Medidata Solutions had a return on equity of 11.05% and a net margin of 6.72%. Medidata Solutions’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share. Analysts predict that Medidata Solutions, Inc. will post $1.29 EPS for the current year.

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Several equities analysts recently weighed in on the stock. Morgan Stanley set a $74.00 target price on shares of Medidata Solutions and gave the company a “buy” rating in a research note on Wednesday. BidaskClub cut shares of Medidata Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC raised their target price on shares of Medidata Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. Jefferies Group LLC raised shares of Medidata Solutions from an “underperform” rating to a “hold” rating and decreased their target price for the company from $47.00 to $46.00 in a research note on Monday, May 1st. Finally, Bank of America Corporation assumed coverage on shares of Medidata Solutions in a research note on Tuesday, June 6th. They issued a “buy” rating and a $85.00 target price for the company. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $69.40.

In other Medidata Solutions news, CEO Tarek Sherif sold 2,964 shares of the company’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $57.08, for a total value of $169,185.12. Following the completion of the transaction, the chief executive officer now owns 815,356 shares in the company, valued at approximately $46,540,520.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Taylor sold 5,639 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $73.46, for a total value of $414,240.94. Following the completion of the transaction, the director now owns 54,372 shares of the company’s stock, valued at approximately $3,994,167.12. The disclosure for this sale can be found here. Insiders sold a total of 21,103 shares of company stock valued at $1,428,651 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.

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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