Simulations Plus (NASDAQ:SLP) Sees Strong Trading Volume Following Better-Than-Expected Earnings

Simulations Plus, Inc. (NASDAQ:SLP) shares saw strong trading volume on Thursday following a better than expected earnings announcement. 176,846 shares were traded 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 the consensus estimate of $0.04 by $0.02. Simulations Plus had a net margin of 14.36% and a return on equity of 7.80%. The company had revenue of $18.70 million for the quarter, compared to analyst estimates of $19.73 million. During the same period last year, the business posted $0.18 EPS. The business’s quarterly revenue was up 19.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Simulations Plus in a research report on Thursday. KeyCorp began coverage on shares of Simulations Plus in a research note on Monday, July 29th. They issued an “overweight” rating and a $47.00 target price on the stock. JMP Securities began coverage on Simulations Plus in a report on Tuesday, July 16th. They set a “market perform” rating on the stock. Craig Hallum restated a “buy” rating and set a $56.00 target price on shares of Simulations Plus in a research report on Wednesday, July 3rd. Finally, BTIG Research cut their price objective on Simulations Plus from $60.00 to $50.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.50.

Insider Transactions at Simulations Plus

In related news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $31.26, for a total value of $625,200.00. Following the completion of the sale, the director now directly owns 3,481,592 shares in the company, valued at $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 can be accessed through the SEC website. Insiders sold a total of 60,750 shares of company stock worth $2,145,055 over the last 90 days. 20.90% of the stock is owned by insiders.

Institutional Trading of Simulations Plus

Institutional investors have recently bought and sold shares of the business. nVerses Capital LLC lifted its stake in shares of 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 purchasing an additional 1,100 shares during the period. EntryPoint Capital LLC acquired a new position in Simulations Plus in the first quarter valued at about $57,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Simulations Plus during the 1st quarter worth about $70,000. Connecticut Wealth Management LLC bought a new stake in shares of Simulations Plus in the 1st quarter valued at about $204,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Simulations Plus in the 2nd quarter valued at approximately $206,000. Institutional investors and hedge funds own 78.08% of the company’s stock.

Simulations Plus Trading Down 0.9 %

The firm has a market cap of $613.91 million, a P/E ratio of 63.92 and a beta of 0.69. The firm’s 50 day moving average is $33.08 and its two-hundred day moving average is $40.63.

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.