Congress Asset Management Co. Has $4.95 Million Stock Position in Simulations Plus, Inc. (NASDAQ:SLP)

Congress Asset Management Co. lessened its holdings in shares of Simulations Plus, Inc. (NASDAQ:SLP) by 14.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 177,435 shares of the technology company’s stock after selling 29,107 shares during the quarter. Congress Asset Management Co.’s holdings in Simulations Plus were worth $4,949,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SLP. First Horizon Advisors Inc. increased its position in Simulations Plus by 82.6% during the 3rd 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 during the period. Pitcairn Co. boosted its stake 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 purchasing an additional 549 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Simulations Plus by 7.6% during the third quarter. Franklin Resources Inc. now owns 10,797 shares of the technology company’s stock worth $342,000 after buying an additional 766 shares during the period. nVerses Capital LLC raised its stake in Simulations Plus by 1,100.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the technology company’s stock worth $38,000 after buying an additional 1,100 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Simulations Plus by 37.0% in the third quarter. US Bancorp DE now owns 4,974 shares of the technology company’s stock valued at $159,000 after buying an additional 1,343 shares during the period. Institutional investors own 78.08% of the company’s stock.

Wall Street Analyst Weigh In

SLP has been the subject of a number of recent analyst reports. KeyCorp increased their price target on Simulations Plus from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. StockNews.com cut Simulations Plus from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Stephens began coverage on Simulations Plus in a research note on Friday, November 15th. They issued an “overweight” rating and a $39.00 price target on the stock. BTIG Research reduced their price objective 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 reiterated an “outperform” rating on shares of Simulations Plus in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.40.

Insider Buying and Selling

In related news, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $31.76, for a total value of $635,200.00. Following the sale, the director now owns 3,442,584 shares in the company, valued at $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 is available at this link. 19.40% of the stock is owned by company insiders.

Simulations Plus Stock Performance

Shares of Simulations Plus stock opened at $36.42 on Tuesday. The stock has a market capitalization of $731.68 million, a PE ratio of 91.05 and a beta of 0.83. Simulations Plus, Inc. has a 52 week low of $24.00 and a 52 week high of $51.22. The stock has a 50 day moving average price of $31.50 and a two-hundred day moving average price of $32.19.

Simulations Plus Company 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.