William Blair Reaffirms Outperform Rating for Simulations Plus (NASDAQ:SLP)

William Blair reaffirmed their outperform rating on shares of Simulations Plus (NASDAQ:SLP) in a research note published on Thursday, Benzinga reports.

Several other brokerages have also weighed in on SLP. KeyCorp assumed coverage on Simulations Plus in a research report on Monday, July 29th. They issued an “overweight” rating and a $47.00 price objective for the company. Craig Hallum reissued a “buy” rating and set a $56.00 price objective on shares of Simulations Plus in a research report on Wednesday, July 3rd. JMP Securities began coverage on shares of Simulations Plus in a research report on Tuesday, July 16th. They issued a “market perform” rating on the stock. Finally, BTIG Research lowered their target price on shares of Simulations Plus from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Simulations Plus currently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Simulations Plus Stock Down 0.9 %

NASDAQ SLP opened at $30.68 on Thursday. The business’s fifty day simple moving average is $33.08 and its 200-day simple moving average is $40.56. The firm has a market cap of $613.85 million, a PE ratio of 63.92 and a beta of 0.69. Simulations Plus has a 52 week low of $29.37 and a 52 week high of $51.22.

Simulations Plus (NASDAQ:SLP) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Simulations Plus had a net margin of 14.36% and a return on equity of 7.80%. The company had revenue of $18.70 million for the quarter, compared to the consensus estimate of $19.73 million. During the same period in the previous year, the firm earned $0.18 earnings per share. Simulations Plus’s quarterly revenue was up 19.9% compared to the same quarter last year. Research analysts expect that Simulations Plus will post 0.54 EPS for the current year.

Insider Activity at Simulations Plus

In other news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $31.26, for a total transaction of $625,200.00. Following the sale, the director now owns 3,481,592 shares of the company’s stock, valued at approximately $108,834,565.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 60,750 shares of company stock worth $2,145,055 in the last three months. 20.90% of the stock is owned by company insiders.

Institutional Trading of Simulations Plus

A number of large investors have recently modified their holdings of SLP. Wasatch Advisors LP grew its stake in Simulations Plus by 36.5% during the 1st quarter. Wasatch Advisors LP now owns 381,693 shares of the technology company’s stock worth $15,707,000 after purchasing an additional 102,135 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Simulations Plus during the first quarter worth about $1,082,000. Silvercrest Asset Management Group LLC purchased a new stake in shares of Simulations Plus during the first quarter worth approximately $4,717,000. Deerfield Management Company L.P. Series C acquired a new stake in Simulations Plus in the second quarter valued at approximately $811,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Simulations Plus by 49.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 35,845 shares of the technology company’s stock worth $1,475,000 after acquiring an additional 11,794 shares during the last quarter. Hedge funds and other institutional investors own 78.08% of the company’s stock.

About Simulations Plus

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.