State Street Corp Raises Holdings in Simulations Plus, Inc. (NASDAQ:SLP)

State Street Corp boosted its position in Simulations Plus, Inc. (NASDAQ:SLP) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 640,303 shares of the technology company’s stock after acquiring an additional 28,953 shares during the quarter. State Street Corp owned 3.19% of Simulations Plus worth $20,503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SLP. First Horizon Advisors Inc. increased its position in shares of Simulations Plus by 82.6% in the third quarter. First Horizon Advisors Inc. now owns 818 shares of the technology company’s stock worth $26,000 after acquiring an additional 370 shares in the last quarter. nVerses Capital LLC increased its holdings in Simulations Plus by 1,100.0% in the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the technology company’s stock valued at $38,000 after purchasing an additional 1,100 shares in the last quarter. Quantbot Technologies LP purchased a new position in Simulations Plus in the third quarter valued at about $59,000. US Bancorp DE boosted its position in shares of Simulations Plus by 37.0% in the third quarter. US Bancorp DE now owns 4,974 shares of the technology company’s stock worth $159,000 after buying an additional 1,343 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Simulations Plus in the second quarter valued at about $206,000. Hedge funds and other institutional investors own 78.08% of the company’s stock.

Simulations Plus Trading Down 0.9 %

Shares of NASDAQ:SLP opened at $28.33 on Tuesday. The firm has a market cap of $568.50 million, a PE ratio of 57.82 and a beta of 0.76. The company has a fifty day simple moving average of $30.64 and a 200 day simple moving average of $35.49. Simulations Plus, Inc. has a 12-month low of $27.07 and a 12-month high of $51.22.

Simulations Plus (NASDAQ:SLP) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $18.70 million during 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 company’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. As a group, equities research analysts forecast that Simulations Plus, Inc. will post 1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction 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 sale, the director now owns 3,442,584 shares in the company, valued at $109,336,467.84. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 60,750 shares of company stock valued at $1,837,255 in the last quarter. Insiders own 20.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SLP shares. BTIG Research reduced their price target on Simulations Plus from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Stephens initiated coverage on shares of Simulations Plus in a research note on Friday, November 15th. They issued an “overweight” rating and a $39.00 target price for the company. StockNews.com downgraded shares of Simulations Plus from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, William Blair reissued an “outperform” rating on shares of Simulations Plus in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

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.