Simulations Plus (NASDAQ:SLP) Announces Quarterly Earnings Results

Simulations Plus (NASDAQ:SLP) released its quarterly earnings results on Tuesday. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04, Briefing.com reports. Simulations Plus had a return on equity of 7.80% and a net margin of 14.36%. The firm had revenue of $18.54 million for the quarter, compared to the consensus estimate of $17.92 million. During the same quarter last year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. Simulations Plus updated its FY24 guidance to $0.54-0.56 EPS and its FY 2024 guidance to 0.540-0.560 EPS.

Simulations Plus Stock Down 14.9 %

Shares of NASDAQ SLP opened at $39.89 on Friday. The business’s 50 day moving average price is $47.56 and its two-hundred day moving average price is $44.12. The company has a market cap of $797.40 million, a PE ratio of 75.26 and a beta of 0.72. Simulations Plus has a twelve month low of $32.69 and a twelve month high of $52.69.

Simulations Plus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 29th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, July 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.60%. Simulations Plus’s payout ratio is 45.28%.

Insider Transactions at Simulations Plus

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $45.95, for a total value of $919,000.00. Following the transaction, the director now directly owns 3,580,857 shares in the company, valued at $164,540,379.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Daniel L. Weiner sold 3,250 shares of Simulations Plus stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $48.31, for a total transaction of $157,007.50. Following the completion of the sale, the director now owns 8,759 shares of the company’s stock, valued at $423,147.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $45.95, for a total transaction of $919,000.00. Following the completion of the transaction, the director now owns 3,580,857 shares in the company, valued at $164,540,379.15. The disclosure for this sale can be found here. In the last three months, insiders sold 44,500 shares of company stock worth $2,072,198. 20.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Oppenheimer increased their target price on shares of Simulations Plus from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Craig Hallum restated a “buy” rating and set a $56.00 price objective on shares of Simulations Plus in a research note on Wednesday. Finally, William Blair began coverage on Simulations Plus in a research report on Friday, June 28th. They issued an “outperform” rating on the stock.

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.