KeyCorp Issues Positive Forecast for Simulations Plus (NASDAQ:SLP) Stock Price

Simulations Plus (NASDAQ:SLP) had its price target increased by KeyCorp from $35.00 to $37.00 in a research report report published on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

SLP has been the subject of several other reports. Stephens started coverage on Simulations Plus in a research report on Friday, November 15th. They issued an “overweight” rating and a $39.00 target price for the company. StockNews.com downgraded shares of Simulations Plus from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. BTIG Research decreased their price target on shares of Simulations Plus from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Simulations Plus in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Simulations Plus currently has an average rating of “Moderate Buy” and a consensus target price of $49.40.

Simulations Plus Stock Performance

Simulations Plus stock opened at $33.78 on Friday. The company has a market capitalization of $678.64 million, a price-to-earnings ratio of 84.45 and a beta of 0.80. The company’s 50 day simple moving average is $29.95 and its 200-day simple moving average is $32.89. Simulations Plus has a 1 year low of $24.00 and a 1 year high of $51.22.

Simulations Plus (NASDAQ:SLP) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Simulations Plus had a return on equity of 6.84% and a net margin of 10.97%. The company had revenue of $18.70 million for the quarter, compared to analysts’ expectations of $19.73 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue was up 19.9% compared to the same quarter last year. Equities analysts expect that Simulations Plus will post 1.09 earnings per share for the current year.

Insider Activity

In other news, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $31.76, for a total transaction of $635,200.00. Following the completion of the transaction, the director now directly owns 3,442,584 shares of the company’s stock, valued at approximately $109,336,467.84. This represents a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Simulations Plus

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. boosted its holdings in Simulations Plus by 82.6% in the third quarter. First Horizon Advisors Inc. now owns 818 shares of the technology company’s stock valued at $26,000 after purchasing an additional 370 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Simulations Plus by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,391 shares of the technology company’s stock valued at $311,000 after buying an additional 456 shares in the last quarter. Pitcairn Co. grew its position in shares of Simulations Plus by 9.1% in the 3rd quarter. Pitcairn Co. now owns 6,599 shares of the technology company’s stock valued at $211,000 after buying an additional 549 shares during the last quarter. Franklin Resources Inc. raised its stake in Simulations Plus by 7.6% during the 3rd quarter. Franklin Resources Inc. now owns 10,797 shares of the technology company’s stock worth $342,000 after acquiring an additional 766 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Simulations Plus by 1.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 54,813 shares of the technology company’s stock worth $2,665,000 after acquiring an additional 784 shares in the last quarter. Institutional investors and hedge funds own 78.08% of the company’s stock.

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.