Simulations Plus, Inc. (NASDAQ:SLP) Position Lifted by Congress Asset Management Co.

Congress Asset Management Co. raised its stake in Simulations Plus, Inc. (NASDAQ:SLP) by 22.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 206,542 shares of the technology company’s stock after purchasing an additional 37,914 shares during the period. Congress Asset Management Co.’s holdings in Simulations Plus were worth $6,613,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Azzad Asset Management Inc. ADV grew its stake in Simulations Plus by 3.6% in the second quarter. Azzad Asset Management Inc. ADV now owns 8,007 shares of the technology company’s stock worth $389,000 after purchasing an additional 280 shares in the last quarter. InTrack Investment Management Inc grew its position in shares of Simulations Plus by 1.1% in the 2nd 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 in the last quarter. Chatham Capital Group Inc. increased its holdings 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 valued at $1,680,000 after acquiring an additional 450 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Simulations Plus by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,391 shares of the technology company’s stock valued at $311,000 after acquiring an additional 456 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Simulations Plus by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,048 shares of the technology company’s stock worth $414,000 after purchasing an additional 562 shares during the last quarter. Institutional investors and hedge funds own 78.08% of the company’s stock.

Simulations Plus Stock Performance

Simulations Plus stock opened at $27.22 on Friday. Simulations Plus, Inc. has a one year low of $27.22 and a one year high of $51.22. The company has a 50-day simple moving average of $32.46 and a 200-day simple moving average of $40.10. The firm has a market capitalization of $544.67 million, a P/E ratio of 55.55 and a beta of 0.69.

Simulations Plus (NASDAQ:SLP) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. Simulations Plus had a net margin of 14.15% and a return on equity of 6.16%. The firm had revenue of $18.70 million during the quarter, compared to analysts’ expectations of $19.73 million. During the same quarter in the prior year, the firm earned $0.18 EPS. Simulations Plus’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, sell-side analysts forecast that Simulations Plus, Inc. will post 1.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SLP shares. 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, October 24th. KeyCorp began coverage on shares of Simulations Plus in a research note on Monday, July 29th. They set an “overweight” rating and a $47.00 price objective on the stock. JMP Securities initiated coverage on shares of Simulations Plus in a report on Tuesday, July 16th. They issued a “market perform” rating on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Simulations Plus in a report on Thursday, October 24th. One research 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 has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Insider Buying and Selling

In other news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $31.26, for a total transaction of $625,200.00. Following the transaction, the director now directly owns 3,481,592 shares of the company’s stock, valued at approximately $108,834,565.92. This trade 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 is accessible through the SEC website. Insiders sold 40,750 shares of company stock valued at $1,352,455 in the last three months. 20.90% of the stock is currently owned by corporate insiders.

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.