Simulations Plus (NASDAQ:SLP) Price Target Cut to $36.00 by Analysts at Craig Hallum

Simulations Plus (NASDAQ:SLP) had its price target reduced by Craig Hallum from $45.00 to $36.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts have also recently weighed in on the stock. Wall Street Zen raised shares of Simulations Plus from a “sell” rating to a “hold” rating in a report on Monday, April 28th. William Blair reissued an “outperform” rating on shares of Simulations Plus in a research note on Tuesday, June 3rd. Finally, KeyCorp boosted their target price on shares of Simulations Plus from $32.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Simulations Plus presently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Simulations Plus Stock Performance

SLP opened at $19.07 on Friday. Simulations Plus has a fifty-two week low of $18.66 and a fifty-two week high of $49.71. The company has a fifty day moving average of $30.74 and a two-hundred day moving average of $30.23. The stock has a market capitalization of $383.52 million, a price-to-earnings ratio of 47.68 and a beta of 0.97.

Simulations Plus (NASDAQ:SLP) last released its quarterly earnings data on Thursday, April 3rd. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. Simulations Plus had a net margin of 10.97% and a return on equity of 6.84%. The company had revenue of $22.43 million during the quarter, compared to analysts’ expectations of $21.93 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, equities research analysts forecast that Simulations Plus will post 1.09 earnings per share for the current year.

Insider Activity

In related news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $33.51, for a total value of $670,200.00. Following the transaction, the director now directly owns 3,344,157 shares of the company’s stock, valued at $112,062,701.07. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Conestoga Capital Advisors LLC grew its position in shares of Simulations Plus by 17.2% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,609,388 shares of the technology company’s stock valued at $63,982,000 after buying an additional 383,126 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Simulations Plus by 16.7% in the 4th quarter. Ameriprise Financial Inc. now owns 607,902 shares of the technology company’s stock valued at $16,954,000 after buying an additional 86,868 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Simulations Plus by 7,753.3% in the 4th quarter. Janus Henderson Group PLC now owns 542,899 shares of the technology company’s stock valued at $15,141,000 after buying an additional 535,986 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Simulations Plus by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 419,241 shares of the technology company’s stock valued at $11,693,000 after buying an additional 24,266 shares during the last quarter. Finally, Royce & Associates LP grew its position in Simulations Plus by 56.6% during the 4th quarter. Royce & Associates LP now owns 371,797 shares of the technology company’s stock worth $10,369,000 after purchasing an additional 134,381 shares during the last quarter. 78.08% of the stock is 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.