Janney Montgomery Scott LLC Reduces Position in Certara, Inc. $CERT

Janney Montgomery Scott LLC decreased its stake in shares of Certara, Inc. (NASDAQ:CERT) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,653 shares of the company’s stock after selling 1,500 shares during the period. Janney Montgomery Scott LLC’s holdings in Certara were worth $125,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Geneva Capital Management LLC boosted its holdings in shares of Certara by 3.9% during the first quarter. Geneva Capital Management LLC now owns 5,671,689 shares of the company’s stock worth $56,150,000 after purchasing an additional 213,089 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Certara by 13.6% during the first quarter. Ameriprise Financial Inc. now owns 4,295,566 shares of the company’s stock worth $42,526,000 after purchasing an additional 515,911 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Certara by 7.0% during the first quarter. Mackenzie Financial Corp now owns 1,793,327 shares of the company’s stock worth $17,754,000 after purchasing an additional 117,089 shares during the last quarter. Select Equity Group L.P. boosted its holdings in shares of Certara by 534.5% during the first quarter. Select Equity Group L.P. now owns 1,094,495 shares of the company’s stock worth $10,836,000 after purchasing an additional 922,007 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Certara by 29.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,011,471 shares of the company’s stock worth $10,014,000 after purchasing an additional 227,388 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

Certara Trading Down 0.3%

Shares of CERT opened at $12.27 on Wednesday. The stock’s 50-day moving average is $11.59 and its two-hundred day moving average is $11.53. The stock has a market cap of $1.97 billion, a PE ratio of 245.45 and a beta of 1.45. Certara, Inc. has a 12 month low of $8.64 and a 12 month high of $15.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.16 and a quick ratio of 2.16.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CERT shares. KeyCorp raised their price objective on Certara from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Barclays lifted their target price on Certara from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Morgan Stanley started coverage on Certara in a report on Thursday, July 3rd. They issued an “equal weight” rating and a $16.00 target price on the stock. Craig Hallum started coverage on Certara in a report on Monday, September 29th. They issued a “buy” rating and a $16.00 target price on the stock. Finally, UBS Group reduced their target price on Certara from $17.50 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.63.

Insider Activity

In other news, insider Leif E. Pedersen sold 51,224 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 73,979 shares in the company, valued at approximately $807,850.68. The trade was a 40.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.33% of the company’s stock.

Certara Company 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.