Geode Capital Management LLC Sells 48,007 Shares of Simulations Plus, Inc. (NASDAQ:SLP)

Geode Capital Management LLC trimmed its stake in shares of Simulations Plus, Inc. (NASDAQ:SLP) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400,611 shares of the technology company’s stock after selling 48,007 shares during the quarter. Geode Capital Management LLC owned about 1.99% of Simulations Plus worth $11,176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SLP. Barclays PLC lifted its holdings in Simulations Plus by 390.6% during the 3rd quarter. Barclays PLC now owns 28,473 shares of the technology company’s stock worth $911,000 after purchasing an additional 22,669 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Simulations Plus during the 4th quarter worth $719,000. State Street Corp increased its position in Simulations Plus by 4.7% during the 3rd quarter. State Street Corp now owns 640,303 shares of the technology company’s stock worth $20,503,000 after buying an additional 28,953 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Simulations Plus by 106.0% during the third quarter. JPMorgan Chase & Co. now owns 47,365 shares of the technology company’s stock worth $1,517,000 after buying an additional 24,371 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Simulations Plus in the fourth quarter valued at about $330,000. 78.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $33.91, for a total transaction of $678,200.00. Following the sale, the director now owns 3,402,584 shares in the company, valued at $115,381,623.44. The trade was a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 19.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on SLP shares. StockNews.com lowered shares of Simulations Plus from a “hold” rating to a “sell” rating in a research report on Monday, April 14th. William Blair reaffirmed an “outperform” rating on shares of Simulations Plus in a report on Wednesday, January 8th. Finally, KeyCorp boosted their price target on Simulations Plus from $32.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. One equities research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Simulations Plus Stock Performance

Shares of SLP opened at $35.38 on Wednesday. Simulations Plus, Inc. has a 52-week low of $23.01 and a 52-week high of $51.22. The firm has a market cap of $711.53 million, a price-to-earnings ratio of 88.45 and a beta of 1.13. The business’s fifty day moving average is $28.48 and its 200-day moving average is $30.15.

Simulations Plus (NASDAQ:SLP) last released its earnings results on Thursday, April 3rd. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. The firm had revenue of $22.43 million for the quarter, compared to analysts’ expectations of $21.93 million. Simulations Plus had a return on equity of 6.84% and a net margin of 10.97%. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 earnings per share. As a group, research analysts forecast that Simulations Plus, Inc. will post 1.09 EPS for the current fiscal year.

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.