InTrack Investment Management Inc Trims Stake in Simulations Plus, Inc. (NASDAQ:SLP)

InTrack Investment Management Inc lessened its stake in Simulations Plus, Inc. (NASDAQ:SLP) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,335 shares of the technology company’s stock after selling 1,010 shares during the period. InTrack Investment Management Inc owned about 0.16% of Simulations Plus worth $1,289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Simulations Plus in the 1st quarter valued at about $70,000. Canton Hathaway LLC raised its position in Simulations Plus by 25.0% during the fourth quarter. Canton Hathaway LLC now owns 5,000 shares of the technology company’s stock worth $224,000 after acquiring an additional 1,000 shares during the period. Algert Global LLC purchased a new position in Simulations Plus during the third quarter valued at $335,000. First National Bank of Omaha purchased a new position in Simulations Plus during the fourth quarter valued at $337,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Simulations Plus during the fourth quarter worth about $358,000. Institutional investors and hedge funds own 78.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SLP. Oppenheimer raised their price target on shares of Simulations Plus from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. William Blair initiated coverage on Simulations Plus in a research note on Friday. They issued an “outperform” rating on the stock. Finally, Craig Hallum boosted their price target on Simulations Plus from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th.

Insider Transactions at Simulations Plus

In related news, Director Daniel L. Weiner sold 3,250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $48.31, for a total value of $157,007.50. Following the sale, the director now owns 8,759 shares of the company’s stock, valued at $423,147.29. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $46.71, for a total value of $934,200.00. Following the transaction, the director now owns 3,540,857 shares in the company, valued at approximately $165,393,430.47. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel L. Weiner sold 3,250 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $48.31, for a total value of $157,007.50. Following the sale, the director now owns 8,759 shares of the company’s stock, valued at approximately $423,147.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,500 shares of company stock valued at $2,072,198. 20.90% of the stock is currently owned by corporate insiders.

Simulations Plus Trading Up 1.5 %

SLP traded up $0.68 during mid-day trading on Tuesday, hitting $46.86. 274,050 shares of the stock were exchanged, compared to its average volume of 102,895. The firm’s fifty day moving average is $47.81 and its two-hundred day moving average is $44.18. Simulations Plus, Inc. has a 1-year low of $32.69 and a 1-year high of $52.69. The company has a market cap of $936.73 million, a PE ratio of 88.42 and a beta of 0.72.

Simulations Plus (NASDAQ:SLP) last issued its quarterly earnings results on Wednesday, April 3rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. Simulations Plus had a net margin of 16.22% and a return on equity of 7.95%. The business had revenue of $18.31 million for the quarter, compared to analysts’ expectations of $17.31 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The business’s quarterly revenue was up 16.2% on a year-over-year basis. As a group, research analysts anticipate that Simulations Plus, Inc. will post 0.55 earnings per share for the current year.

Simulations Plus Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, April 26th. Simulations Plus’s payout ratio is presently 45.28%.

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.