Simulations Plus (NASDAQ:SLP) Price Target Raised to $65.00

Simulations Plus (NASDAQ:SLP) had its price target hoisted by Oppenheimer from $55.00 to $65.00 in a report released on Thursday, Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

Simulations Plus Trading Down 4.0 %

SLP opened at $46.66 on Thursday. The company has a 50 day moving average of $47.60 and a 200 day moving average of $43.50. The company has a market cap of $932.50 million, a PE ratio of 88.04 and a beta of 0.75. Simulations Plus has a 12 month low of $32.69 and a 12 month high of $52.69.

Simulations Plus (NASDAQ:SLP) last posted its earnings results on Wednesday, April 3rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. Simulations Plus had a net margin of 16.22% and a return on equity of 7.95%. The business had revenue of $18.31 million for the quarter, compared to analysts’ expectations of $17.31 million. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. Research analysts forecast that Simulations Plus will post 0.69 earnings per share for the current fiscal year.

Simulations Plus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, April 26th. Simulations Plus’s dividend payout ratio is presently 45.28%.

Insiders Place Their Bets

In other news, Director Daniel L. Weiner sold 3,250 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $48.31, for a total transaction of $157,007.50. Following the sale, the director now owns 8,759 shares in the company, valued at approximately $423,147.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Daniel L. Weiner sold 3,250 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $48.31, for a total transaction of $157,007.50. Following the sale, the director now owns 8,759 shares in the company, valued at approximately $423,147.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $39.94, for a total transaction of $798,800.00. Following the sale, the director now owns 3,600,195 shares in the company, valued at approximately $143,791,788.30. The disclosure for this sale can be found here. Insiders have sold 43,750 shares of company stock worth $1,899,808 in the last three months. 20.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Simulations Plus

Several institutional investors and hedge funds have recently made changes to their positions in SLP. Victory Capital Management Inc. purchased a new position in Simulations Plus in the 3rd quarter worth $57,000. EntryPoint Capital LLC purchased a new position in Simulations Plus in the 1st quarter worth $57,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Simulations Plus by 194.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,487 shares of the technology company’s stock worth $62,000 after purchasing an additional 982 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Simulations Plus in the 1st quarter worth $70,000. Finally, Connecticut Wealth Management LLC bought a new stake in Simulations Plus in the 1st quarter worth $204,000. Hedge funds and other institutional investors own 78.08% of the company’s stock.

Simulations Plus Company Profile

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.