Neuberger Berman Group LLC Cuts Stake in Simulations Plus, Inc. (NASDAQ:SLP)

Defense World · Sep 18, 2022 16:11

Neuberger Berman Group LLC lowered its stake in shares of Simulations Plus, Inc. (NASDAQ:SLP – Get Rating) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,635,924 shares of the technology company's stock after selling 45,305 shares during the quarter. Neuberger Berman Group LLC owned about 8.10% of Simulations Plus worth $83,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in Simulations Plus during the first quarter worth $32,000. Hardy Reed LLC acquired a new stake in shares of Simulations Plus in the 1st quarter valued at about $113,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in shares of Simulations Plus in the 1st quarter valued at about $166,000. US Bancorp DE lifted its position in Simulations Plus by 233.4% during the 1st quarter. US Bancorp DE now owns 4,171 shares of the technology company's stock worth $212,000 after acquiring an additional 2,920 shares during the period. Finally, Gotham Asset Management LLC acquired a new stake in Simulations Plus during the 4th quarter worth approximately $225,000. Institutional investors and hedge funds own 72.51% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SLP shares. Craig Hallum increased their target price on Simulations Plus from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, July 7th. TheStreet raised Simulations Plus from a "c+" rating to a "b-" rating in a research report on Friday, July 22nd. Finally, Raymond James boosted their price objective on Simulations Plus from $54.00 to $70.00 and gave the company an "outperform" rating in a report on Monday, August 29th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

Simulations Plus Price Performance

SLP stock opened at $53.57 on Friday. Simulations Plus, Inc. has a 52-week low of $35.18 and a 52-week high of $67.59. The company has a 50-day moving average of $60.68 and a two-hundred day moving average of $51.62. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 93.98 and a beta of 0.45.

Simulations Plus (NASDAQ:SLP – Get Rating) last posted its quarterly earnings data on Wednesday, July 6th. The technology company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. Simulations Plus had a net margin of 22.74% and a return on equity of 6.91%. The company had revenue of $14.96 million during the quarter, compared to analyst estimates of $14.33 million. During the same quarter last year, the business posted $0.18 earnings per share. The company's revenue was up 17.1% on a year-over-year basis. Equities analysts expect that Simulations Plus, Inc. will post 0.64 EPS for the current fiscal year.

Simulations Plus Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 25th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, July 22nd. This represents a $0.24 annualized dividend and a yield of 0.45%. Simulations Plus's payout ratio is currently 42.11%.

Insider Buying and Selling at Simulations Plus

In other news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $61.19, for a total value of $1,223,800.00. Following the completion of the transaction, the director now owns 4,117,634 shares of the company's stock, valued at approximately $251,958,024.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Simulations Plus news, Director Walter S. Woltosz sold 17,461 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 4,140,173 shares of the company's stock, valued at approximately $198,728,304. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter S. Woltosz sold 20,000 shares of the company's stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $61.19, for a total transaction of $1,223,800.00. Following the completion of the sale, the director now directly owns 4,117,634 shares in the company, valued at $251,958,024.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,582 shares of company stock worth $3,176,188. Insiders own 23.08% of the company's stock.

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.