Simulations Plus (NASDAQ:SLP) Posts Earnings Results, Beats Estimates By $0.04 EPS

Simulations Plus (NASDAQ:SLP) released its quarterly earnings results on Tuesday. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04, Briefing.com reports. Simulations Plus had a net margin of 14.36% and a return on equity of 7.80%. The business had revenue of $18.54 million during the quarter, compared to analyst estimates of $17.92 million. During the same period last year, the business earned $0.20 EPS. The business’s revenue 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 stock has a market capitalization of $797.40 million, a P/E ratio of 75.26 and a beta of 0.72. Simulations Plus has a 52-week low of $32.69 and a 52-week high of $52.69. The firm’s 50-day moving average price is $47.56 and its two-hundred day moving average price is $44.12.

Simulations Plus Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Activity at Simulations Plus

In related news, Director Daniel L. Weiner sold 3,250 shares of Simulations Plus stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $48.31, for a total value of $157,007.50. Following the sale, the director now directly owns 8,759 shares in the company, valued at approximately $423,147.29. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Simulations Plus 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 sale, the director now owns 8,759 shares of the company’s stock, valued at approximately $423,147.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $46.71, for a total value of $934,200.00. Following the completion of the transaction, the director now directly owns 3,540,857 shares of the company’s stock, valued at approximately $165,393,430.47. The disclosure for this sale can be found here. Insiders sold 44,500 shares of company stock worth $2,072,198 in the last 90 days. 20.90% of the stock is currently owned by company insiders.

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.