Congress Asset Management Co. Raises Stock Position in Simulations Plus, Inc. (NASDAQ:SLP)

Congress Asset Management Co. raised its position in Simulations Plus, Inc. (NASDAQ:SLP) by 22.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,542 shares of the technology company’s stock after purchasing an additional 37,914 shares during the quarter. Congress Asset Management Co. owned about 1.03% of Simulations Plus worth $6,613,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SLP. Vanguard Group Inc. lifted its stake in shares of Simulations Plus by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,135,105 shares of the technology company’s stock valued at $46,710,000 after purchasing an additional 12,636 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Simulations Plus by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 414,005 shares of the technology company’s stock valued at $20,128,000 after purchasing an additional 37,992 shares during the last quarter. Tributary Capital Management LLC increased its holdings in Simulations Plus by 54.7% in the 3rd quarter. Tributary Capital Management LLC now owns 325,567 shares of the technology company’s stock valued at $10,425,000 after purchasing an additional 115,122 shares during the last quarter. Kennedy Capital Management LLC raised its position in Simulations Plus by 3.2% in the first quarter. Kennedy Capital Management LLC now owns 229,439 shares of the technology company’s stock valued at $9,441,000 after purchasing an additional 7,077 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Simulations Plus by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 222,317 shares of the technology company’s stock worth $10,809,000 after buying an additional 11,048 shares during the period. Hedge funds and other institutional investors own 78.08% of the company’s stock.

Insider Activity at Simulations Plus

In other news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 3,481,592 shares of the company’s stock, valued at $108,834,565.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 40,750 shares of company stock worth $1,352,455 over the last 90 days. Company insiders own 20.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. KeyCorp began coverage on Simulations Plus in a research note on Monday, July 29th. They issued an “overweight” rating and a $47.00 price objective on the stock. JMP Securities initiated coverage on Simulations Plus in a report on Tuesday, July 16th. They issued a “market perform” rating on the stock. BTIG Research decreased their price target on Simulations Plus from $60.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, William Blair reiterated an “outperform” rating on shares of Simulations Plus in a report on Thursday, October 24th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Simulations Plus presently has an average rating of “Moderate Buy” and an average target price of $54.50.

Simulations Plus Price Performance

NASDAQ SLP opened at $27.22 on Friday. The company has a fifty day moving average of $32.46 and a two-hundred day moving average of $40.10. The company has a market capitalization of $544.67 million, a PE ratio of 55.55 and a beta of 0.69. Simulations Plus, Inc. has a 1 year low of $27.22 and a 1 year high of $51.22.

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

Simulations Plus Profile

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.