State of Alaska Department of Revenue Sells 51,832 Shares of Certara, Inc. $CERT

State of Alaska Department of Revenue cut its position in shares of Certara, Inc. (NASDAQ:CERT) by 44.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,717 shares of the company’s stock after selling 51,832 shares during the quarter. State of Alaska Department of Revenue’s holdings in Certara were worth $768,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new stake in shares of Certara during the first quarter valued at approximately $120,000. Illinois Municipal Retirement Fund boosted its position in shares of Certara by 3.9% during the first quarter. Illinois Municipal Retirement Fund now owns 59,721 shares of the company’s stock valued at $591,000 after purchasing an additional 2,268 shares in the last quarter. Northern Trust Corp boosted its position in shares of Certara by 4.5% during the first quarter. Northern Trust Corp now owns 916,299 shares of the company’s stock valued at $9,071,000 after purchasing an additional 39,289 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Certara during the first quarter valued at approximately $297,000. Finally, Principal Financial Group Inc. boosted its position in shares of Certara by 2.4% during the first quarter. Principal Financial Group Inc. now owns 543,958 shares of the company’s stock valued at $5,385,000 after purchasing an additional 12,513 shares in the last quarter. 73.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CERT shares. Morgan Stanley started coverage on Certara in a research report on Thursday, July 3rd. They set an “equal weight” rating and a $16.00 price target on the stock. UBS Group dropped their price target on Certara from $17.50 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. KeyCorp dropped their price target on Certara from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, July 14th. Barclays lifted their price objective on Certara from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Craig Hallum assumed coverage on Certara in a research note on Monday, September 29th. They set a “buy” rating and a $16.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.50.

Insider Buying and Selling

In related news, insider Leif E. Pedersen sold 51,224 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $10.92, for a total transaction of $559,366.08. Following the completion of the sale, the insider owned 73,979 shares in the company, valued at approximately $807,850.68. This represents a 40.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.33% of the company’s stock.

Certara Stock Up 2.9%

CERT stock opened at $13.45 on Tuesday. Certara, Inc. has a 1-year low of $8.64 and a 1-year high of $15.69. The business has a fifty day moving average price of $11.13 and a 200-day moving average price of $11.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $2.16 billion, a P/E ratio of 269.05 and a beta of 1.45.

Certara (NASDAQ:CERT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). Certara had a return on equity of 5.11% and a net margin of 1.97%.The business had revenue of $104.57 million during the quarter, compared to analysts’ expectations of $104.14 million. During the same quarter in the prior year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts forecast that Certara, Inc. will post 0.28 earnings per share for the current fiscal year.

Certara Profile

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.