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

Simulations Plus (NASDAQ:SLP)‘s stock had its “outperform” rating reissued by William Blair in a research note issued to investors on Thursday, Benzinga reports.

Other analysts have also issued research reports about the stock. KeyCorp assumed coverage on shares of Simulations Plus in a research note on Monday, July 29th. They set an “overweight” rating and a $47.00 price target for the company. BTIG Research decreased 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 report on Thursday. Craig Hallum reaffirmed a “buy” rating and issued a $56.00 price target on shares of Simulations Plus in a research report on Wednesday, July 3rd. Finally, JMP Securities initiated coverage on Simulations Plus in a report on Tuesday, July 16th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Simulations Plus Price Performance

Shares of SLP opened at $30.68 on Thursday. Simulations Plus has a one year low of $29.37 and a one year high of $51.22. The company has a market cap of $613.91 million, a PE ratio of 63.92 and a beta of 0.69. The stock has a 50-day moving average of $33.08 and a 200-day moving average of $40.63.

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

Insider Activity

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $39.63, for a total value of $792,600.00. Following the completion of the sale, the director now directly owns 3,521,592 shares of the company’s stock, valued at $139,560,690.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 60,750 shares of company stock worth $2,145,055 over the last quarter. Insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Azzad Asset Management Inc. ADV grew its holdings in shares of Simulations Plus by 3.6% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 8,007 shares of the technology company’s stock valued at $389,000 after purchasing an additional 280 shares during the last quarter. InTrack Investment Management Inc lifted its stake in Simulations Plus by 1.1% in the second quarter. InTrack Investment Management Inc now owns 31,665 shares of the technology company’s stock worth $1,540,000 after acquiring an additional 330 shares during the period. Chatham Capital Group Inc. lifted its position in shares of Simulations Plus by 1.3% in the 2nd quarter. Chatham Capital Group Inc. now owns 34,554 shares of the technology company’s stock worth $1,680,000 after purchasing an additional 450 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Simulations Plus by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 6,391 shares of the technology company’s stock valued at $311,000 after buying an additional 456 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Simulations Plus by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,048 shares of the technology company’s stock worth $414,000 after acquiring an additional 562 shares during the period. 78.08% of the stock is currently owned by hedge funds and other institutional investors.

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.