Simulations Plus (NASDAQ:SLP) Sees Unusually-High Trading Volume Following Strong Earnings

Simulations Plus, Inc. (NASDAQ:SLP) shares saw unusually-strong trading volume on Thursday following a stronger than expected earnings report. Approximately 176,846 shares changed hands during trading, an increase of 40% from the previous session’s volume of 126,737 shares.The stock last traded at $32.60 and had previously closed at $33.98.

The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Simulations Plus had a return on equity of 7.80% and a net margin of 14.36%. The firm had revenue of $18.70 million during the quarter, compared to analysts’ expectations of $19.73 million. The company’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SLP shares. Craig Hallum reaffirmed a “buy” rating and set a $56.00 price target on shares of Simulations Plus in a research report on Wednesday, July 3rd. William Blair reiterated an “outperform” rating on shares of Simulations Plus in a research note on Thursday. BTIG Research reduced their price objective 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. KeyCorp assumed coverage on Simulations Plus in a research report on Monday, July 29th. They set an “overweight” rating and a $47.00 price target for the company. Finally, JMP Securities started coverage on Simulations Plus in a research note on Tuesday, July 16th. They set a “market perform” rating on the stock. One equities 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Insider Activity at Simulations Plus

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $35.18, for a total transaction of $703,600.00. Following the completion of the transaction, the director now directly owns 3,501,592 shares of the company’s stock, valued at $123,186,006.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 60,750 shares of company stock worth $2,145,055. Company insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Simulations Plus

Several institutional investors and hedge funds have recently made changes to their positions in SLP. nVerses Capital LLC grew its holdings in Simulations Plus by 1,100.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the technology company’s stock valued at $38,000 after buying an additional 1,100 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Simulations Plus in the first quarter valued at about $57,000. Allspring Global Investments Holdings LLC bought a new position in Simulations Plus during the first quarter worth about $70,000. Connecticut Wealth Management LLC acquired a new stake in Simulations Plus in the 1st quarter worth about $204,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Simulations Plus during the 2nd quarter worth approximately $206,000. Institutional investors and hedge funds own 78.08% of the company’s stock.

Simulations Plus Stock Down 0.9 %

The firm has a 50 day moving average of $33.08 and a 200-day moving average of $40.63. The firm has a market capitalization of $613.91 million, a P/E ratio of 63.92 and a beta of 0.69.

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.