State of Tennessee Treasury Department boosted its holdings in Simulations Plus, Inc. (NASDAQ:SLP – Get Rating) by 127.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,138 shares of the technology company's stock after buying an additional 6,249 shares during the quarter. State of Tennessee Treasury Department owned 0.06% of Simulations Plus worth $568,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Simulations Plus in the first quarter worth approximately $32,000. Hardy Reed LLC acquired a new position in Simulations Plus in the first quarter worth approximately $113,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Simulations Plus in the first quarter worth approximately $166,000. Buckingham Strategic Wealth LLC acquired a new position in Simulations Plus in the fourth quarter worth approximately $215,000. Finally, Gotham Asset Management LLC acquired a new position in Simulations Plus in the fourth quarter worth approximately $225,000. Institutional investors and hedge funds own 72.51% of the company's stock.
Get Simulations Plus alerts:Simulations Plus Stock Performance
Simulations Plus stock opened at $57.21 on Friday. The company has a 50 day moving average price of $58.96 and a 200 day moving average price of $49.96. Simulations Plus, Inc. has a 52 week low of $35.18 and a 52 week high of $67.59. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 103.13 and a beta of 0.42.
Simulations Plus (NASDAQ:SLP – Get Rating) last issued its earnings results on Wednesday, July 6th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. The company had revenue of $14.96 million during the quarter, compared to analyst estimates of $14.33 million. Simulations Plus had a net margin of 22.74% and a return on equity of 6.91%. The company's revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Equities analysts forecast that Simulations Plus, Inc. will post 0.64 earnings per share for the current fiscal year.Simulations Plus Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 25th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, July 22nd. Simulations Plus's dividend payout ratio (DPR) is currently 42.11%.
Insider Buying and Selling at Simulations Plus
In other Simulations Plus news, Director Walter S. Woltosz sold 17,461 shares of Simulations Plus stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $48.00, for a total transaction of $838,128.00. Following the completion of the sale, the director now owns 4,140,173 shares of the company's stock, valued at approximately $198,728,304. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Walter S. Woltosz sold 17,461 shares of Simulations Plus stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $48.00, for a total value of $838,128.00. Following the completion of the sale, the director now owns 4,140,173 shares of the company's stock, valued at approximately $198,728,304. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Walter S. Woltosz sold 18,121 shares of Simulations Plus stock in a transaction on Monday, August 29th. The shares were sold at an average price of $61.49, for a total transaction of $1,114,260.29. Following the completion of the sale, the director now directly owns 4,099,786 shares of the company's stock, valued at approximately $252,095,841.14. The disclosure for this sale can be found here. Insiders sold 55,582 shares of company stock valued at $3,176,188 in the last quarter. Company insiders own 23.08% of the company's stock.
Analysts Set New Price Targets
Several research analysts have issued reports on the stock. Raymond James lifted their price target on shares of Simulations Plus from $54.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, August 29th. TheStreet raised shares of Simulations Plus from a "c+" rating to a "b-" rating in a research note on Friday, July 22nd. Finally, Craig Hallum raised their price objective on shares of Simulations Plus from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $65.00.
Simulations Plus Profile
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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. It operates through four segments: Simulations Plus, Cognigen, DILIsym, and Lixoft.
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