Zacks Investment Research upgraded shares of Simulations Plus (NASDAQ:SLP) from a hold rating to a strong-buy rating in a research report sent to investors on Friday, Zacks.com reports. The brokerage currently has $37.00 price target on the technology company’s stock.
According to Zacks, “Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery and development simulation software, which is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies worldwide. They have two other businesses, Words+, Inc. and FutureLab, which are based on its proprietary software technologies. “
Other research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Workhorse Group from a hold rating to a buy rating in a research report on Monday, July 15th. ValuEngine raised shares of Valmont Industries from a sell rating to a hold rating in a research report on Friday, July 12th.
NASDAQ SLP opened at $34.87 on Friday. The firm has a 50-day moving average of $28.83. Simulations Plus has a 12 month low of $17.18 and a 12 month high of $36.20. The firm has a market capitalization of $600.05 million, a PE ratio of 69.74 and a beta of -0.39.
Simulations Plus (NASDAQ:SLP) last posted its earnings results on Wednesday, July 10th. The technology company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. Simulations Plus had a net margin of 24.09% and a return on equity of 23.48%. The company had revenue of $9.94 million for the quarter, compared to analysts’ expectations of $9.85 million. On average, sell-side analysts expect that Simulations Plus will post 0.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Thursday, July 25th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.24 annualized dividend and a dividend yield of 0.69%. Simulations Plus’s dividend payout ratio is presently 48.00%.
In other news, Director Walter S. Woltosz sold 18,500 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $25.67, for a total transaction of $474,895.00. Following the sale, the director now owns 5,178,083 shares of the company’s stock, valued at $132,921,390.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.57% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Simulations Plus by 48.5% during the fourth quarter. Rhumbline Advisers now owns 15,309 shares of the technology company’s stock worth $305,000 after buying an additional 5,000 shares during the period. Advisor Group Inc. increased its stake in shares of Simulations Plus by 156.9% during the fourth quarter. Advisor Group Inc. now owns 2,112 shares of the technology company’s stock worth $42,000 after buying an additional 1,290 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Simulations Plus by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 571,865 shares of the technology company’s stock worth $11,380,000 after buying an additional 25,871 shares during the period. Geode Capital Management LLC increased its stake in shares of Simulations Plus by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 128,181 shares of the technology company’s stock worth $2,550,000 after buying an additional 7,794 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Simulations Plus by 65.7% during the fourth quarter. Bank of America Corp DE now owns 8,754 shares of the technology company’s stock worth $174,000 after buying an additional 3,471 shares during the period. 41.22% of the stock is currently owned by institutional investors and hedge funds.
Simulations Plus Company 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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