Congress Asset Management Co. MA acquired a new position in shares of Simulations Plus, Inc. (NASDAQ:SLP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 73,722 shares of the technology company’s stock, valued at approximately $2,558,000. Congress Asset Management Co. MA owned 0.42% of Simulations Plus at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in SLP. Wells Fargo & Company MN lifted its holdings in shares of Simulations Plus by 10.0% during the second quarter. Wells Fargo & Company MN now owns 45,738 shares of the technology company’s stock worth $1,307,000 after buying an additional 4,143 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in Simulations Plus by 419.4% in the second quarter. Meadow Creek Investment Management LLC now owns 5,474 shares of the technology company’s stock valued at $156,000 after purchasing an additional 4,420 shares in the last quarter. Bahl & Gaynor Inc. raised its stake in Simulations Plus by 10.7% in the second quarter. Bahl & Gaynor Inc. now owns 124,012 shares of the technology company’s stock valued at $3,542,000 after purchasing an additional 11,968 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in Simulations Plus by 13.0% in the second quarter. Campbell & CO Investment Adviser LLC now owns 23,221 shares of the technology company’s stock valued at $663,000 after purchasing an additional 2,669 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Simulations Plus by 1.6% in the second quarter. Northern Trust Corp now owns 168,006 shares of the technology company’s stock valued at $4,798,000 after purchasing an additional 2,603 shares in the last quarter. 41.35% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have commented on SLP. BidaskClub downgraded Simulations Plus from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine downgraded Simulations Plus from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised Simulations Plus from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Wednesday, October 30th. Finally, Liberum Capital reissued a “buy” rating on shares of Simulations Plus in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $38.00.
In other news, Director Walter S. Woltosz sold 24,000 shares of the company’s stock in a transaction that occurred on Sunday, October 27th. The stock was sold at an average price of $33.45, for a total transaction of $802,800.00. Following the transaction, the director now directly owns 5,063,918 shares of the company’s stock, valued at $169,388,057.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 72,000 shares of company stock worth $2,532,720 over the last ninety days. 31.57% of the stock is owned by insiders.
Shares of Simulations Plus stock traded up $0.27 on Friday, reaching $33.25. 100,300 shares of the company’s stock were exchanged, compared to its average volume of 92,136. The company has a market capitalization of $592.56 million, a P/E ratio of 66.50 and a beta of -0.34. Simulations Plus, Inc. has a 52 week low of $17.18 and a 52 week high of $41.95. The firm’s 50-day moving average is $34.58 and its two-hundred day moving average is $31.43.
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 25th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Thursday, October 24th. Simulations Plus’s payout ratio is 48.00%.
Simulations Plus Profile
Simulations Plus, Inc develops drug discovery and development software for mechanistic modeling and simulation, and machine-learning-based prediction of properties of molecules from their structure worldwide. The company offers GastroPlus, which simulates the absorption, pharmacokinetics (PK), pharmacodynamics, and drug-drug interactions of compounds administered to humans and animals; DDDPlus that simulates in vitro laboratory experiments that measure the rate of dissolution of the drug and additives in a dosage form; and MembranePlus, which simulates laboratory experiments.
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