Craig Hallum Reaffirms “Buy” Rating for Simulations Plus (NASDAQ:SLP)

Simulations Plus (NASDAQ:SLP)‘s stock had its “buy” rating reiterated by stock analysts at Craig Hallum in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $56.00 price target on the technology company’s stock. Craig Hallum’s price target indicates a potential upside of 40.39% from the company’s current price.

A number of other research analysts have also weighed in on SLP. Oppenheimer raised their price target on shares of Simulations Plus from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. William Blair started coverage on shares of Simulations Plus in a research report on Friday, June 28th. They issued an “outperform” rating on the stock.

Simulations Plus Trading Down 14.9 %

Shares of NASDAQ:SLP traded down $6.97 on Wednesday, reaching $39.89. 340,421 shares of the company’s stock were exchanged, compared to its average volume of 104,821. The company has a fifty day moving average of $47.81 and a 200-day moving average of $44.18. Simulations Plus has a twelve month low of $32.69 and a twelve month high of $52.69. The company has a market capitalization of $797.40 million, a price-to-earnings ratio of 75.26 and a beta of 0.72.

Simulations Plus (NASDAQ:SLP) last released its quarterly earnings results on Tuesday, July 2nd. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. Simulations Plus had a net margin of 16.22% and a return on equity of 7.95%. The firm had revenue of $18.54 million during the quarter, compared to the consensus estimate of $17.92 million. During the same quarter last year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities research analysts forecast that Simulations Plus will post 0.55 EPS for the current fiscal year.

Insider Transactions at Simulations Plus

In other Simulations Plus news, Director Daniel L. Weiner sold 750 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $49.32, for a total transaction of $36,990.00. Following the transaction, the director now owns 7,009 shares in the company, valued at $345,683.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Daniel L. Weiner sold 750 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $49.32, for a total value of $36,990.00. Following the completion of the sale, the director now directly owns 7,009 shares of the company’s stock, valued at $345,683.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $45.95, for a total transaction of $919,000.00. Following the completion of the sale, the director now directly owns 3,580,857 shares of the company’s stock, valued at $164,540,379.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,500 shares of company stock valued at $2,072,198. 20.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Simulations Plus

Hedge funds and other institutional investors have recently modified their holdings of the stock. Values First Advisors Inc. acquired a new position in Simulations Plus in the 4th quarter worth approximately $1,862,000. Conestoga Capital Advisors LLC grew its stake in shares of Simulations Plus by 12.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 2,259,176 shares of the technology company’s stock worth $101,098,000 after purchasing an additional 251,299 shares during the period. Congress Asset Management Co. MA grew its stake in shares of Simulations Plus by 34.6% during the 1st quarter. Congress Asset Management Co. MA now owns 171,490 shares of the technology company’s stock worth $7,057,000 after purchasing an additional 44,129 shares during the period. Tributary Capital Management LLC acquired a new stake in shares of Simulations Plus during the 4th quarter worth approximately $9,190,000. Finally, Kopion Asset Management LLC grew its stake in shares of Simulations Plus by 145.0% during the 4th quarter. Kopion Asset Management LLC now owns 122,709 shares of the technology company’s stock worth $5,491,000 after purchasing an additional 72,622 shares during the period. 78.08% of the stock is owned by hedge funds and other institutional investors.

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.