Simulations Plus (NASDAQ:SLP) Price Target Lowered to $35.00 at KeyCorp

Simulations Plus (NASDAQ:SLP) had its target price reduced by KeyCorp from $40.00 to $35.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other analysts have also recently issued reports on the company. BTIG Research cut their target price on Simulations Plus from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. StockNews.com lowered Simulations Plus from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. William Blair restated an “outperform” rating on shares of Simulations Plus in a report on Wednesday. Finally, Stephens initiated coverage on shares of Simulations Plus in a report on Friday, November 15th. They issued an “overweight” rating and a $39.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Simulations Plus presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

Simulations Plus Price Performance

SLP opened at $28.21 on Wednesday. Simulations Plus has a 1 year low of $24.00 and a 1 year high of $51.22. The stock’s 50 day simple moving average is $29.79 and its 200 day simple moving average is $34.00. The firm has a market cap of $566.60 million, a price-to-earnings ratio of 57.57 and a beta of 0.80.

Simulations Plus (NASDAQ:SLP) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $18.70 million for the quarter, compared to the consensus estimate of $19.73 million. Simulations Plus had a net margin of 14.15% and a return on equity of 6.16%. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 earnings per share. As a group, sell-side analysts anticipate that Simulations Plus will post 1.1 EPS for the current year.

Insider Buying and Selling

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $31.76, for a total transaction of $635,200.00. Following the completion of the transaction, the director now owns 3,442,584 shares of the company’s stock, valued at approximately $109,336,467.84. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 19.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Simulations Plus

Several large investors have recently modified their holdings of SLP. Arizona State Retirement System purchased a new position in Simulations Plus in the 2nd quarter worth approximately $218,000. Los Angeles Capital Management LLC purchased a new position in shares of Simulations Plus in the second quarter worth $206,000. Wedbush Securities Inc. lifted its holdings in shares of Simulations Plus by 10.5% during the second quarter. Wedbush Securities Inc. now owns 18,025 shares of the technology company’s stock valued at $876,000 after purchasing an additional 1,709 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Simulations Plus by 1.5% during the second quarter. Envestnet Asset Management Inc. now owns 54,813 shares of the technology company’s stock valued at $2,665,000 after purchasing an additional 784 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Simulations Plus by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 414,005 shares of the technology company’s stock valued at $20,128,000 after buying an additional 37,992 shares during the last quarter. Hedge funds and other institutional investors own 78.08% of the company’s stock.

About Simulations Plus

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.