Bank of New York Mellon Corp Sells 547,327 Shares of Certara, Inc. (NASDAQ:CERT)

Bank of New York Mellon Corp decreased its holdings in shares of Certara, Inc. (NASDAQ:CERT) by 27.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,447,744 shares of the company’s stock after selling 547,327 shares during the period. Bank of New York Mellon Corp owned 0.90% of Certara worth $14,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. ArrowMark Colorado Holdings LLC increased its position in Certara by 164.2% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 6,213,278 shares of the company’s stock valued at $66,171,000 after buying an additional 3,861,674 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Certara by 864.0% during the fourth quarter. Ameriprise Financial Inc. now owns 3,779,655 shares of the company’s stock worth $40,253,000 after purchasing an additional 3,387,590 shares during the period. Mackenzie Financial Corp bought a new position in shares of Certara in the 4th quarter worth $17,852,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Certara by 63.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 3,818,613 shares of the company’s stock worth $40,668,000 after purchasing an additional 1,487,998 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in Certara during the 4th quarter valued at $11,542,000. Institutional investors own 73.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CERT shares. JMP Securities reissued a “market perform” rating on shares of Certara in a research report on Tuesday, May 6th. Morgan Stanley started coverage on shares of Certara in a research report on Thursday, July 3rd. They issued an “equal weight” rating and a $16.00 price objective for the company. KeyCorp decreased their price objective on shares of Certara from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, July 14th. Robert W. Baird boosted their target price on Certara from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, April 11th. Finally, Barclays raised Certara from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $11.00 to $14.00 in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.29.

Certara Trading Down 4.2%

Shares of Certara stock opened at $10.10 on Friday. The company’s 50-day moving average price is $11.29 and its 200-day moving average price is $11.87. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. Certara, Inc. has a 12-month low of $8.64 and a 12-month high of $16.61. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -505.00 and a beta of 1.43.

Certara (NASDAQ:CERT) last announced its earnings results on Monday, May 5th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. Certara had a negative net margin of 0.67% and a positive return on equity of 5.05%. The company had revenue of $106.00 million during the quarter, compared to analyst estimates of $104.44 million. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts expect that Certara, Inc. will post 0.28 earnings per share for the current fiscal year.

About Certara

Certara, Inc, together with its subsidiaries, provides software products and technology-enabled services to customers for biosimulation in drug discovery, preclinical and clinical research, regulatory submissions, and market access in the United States and internationally. It offers solutions for model-informed drug development, as well as biosimulation solution used to predict both pharmacokinetics and pharmacodynamics.