Pitcairn Co. Boosts Stock Position in Simulations Plus, Inc. (NASDAQ:SLP)

Pitcairn Co. increased its stake in shares of Simulations Plus, Inc. (NASDAQ:SLP) by 9.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,599 shares of the technology company’s stock after buying an additional 549 shares during the quarter. Pitcairn Co.’s holdings in Simulations Plus were worth $211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLP. First Horizon Advisors Inc. raised its stake in Simulations Plus by 82.6% during the third quarter. First Horizon Advisors Inc. now owns 818 shares of the technology company’s stock worth $26,000 after purchasing an additional 370 shares during the period. nVerses Capital LLC raised its position in shares of Simulations Plus by 1,100.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the technology company’s stock valued at $38,000 after buying an additional 1,100 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Simulations Plus during the 2nd quarter valued at approximately $206,000. Arizona State Retirement System acquired a new position in Simulations Plus in the second quarter valued at approximately $218,000. Finally, US Bancorp DE grew its position in Simulations Plus by 37.0% in the third quarter. US Bancorp DE now owns 4,974 shares of the technology company’s stock worth $159,000 after acquiring an additional 1,343 shares during the period. Institutional investors and hedge funds own 78.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SLP. Stephens initiated coverage on Simulations Plus in a research note on Friday, November 15th. They issued an “overweight” rating and a $39.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of Simulations Plus in a research report on Wednesday, November 6th. BTIG Research dropped their price target on shares of Simulations Plus from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, StockNews.com lowered shares of Simulations Plus from a “hold” rating to a “sell” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.40.

Simulations Plus Stock Performance

Shares of SLP stock opened at $31.82 on Thursday. The stock has a market capitalization of $638.63 million, a P/E ratio of 64.94 and a beta of 0.71. Simulations Plus, Inc. has a fifty-two week low of $27.07 and a fifty-two week high of $51.22. The company has a 50 day moving average price of $30.81 and a 200 day moving average price of $37.90.

Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $18.70 million for the quarter, compared to analyst estimates of $19.73 million. Simulations Plus had a return on equity of 6.16% and a net margin of 14.15%. The company’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, research analysts forecast that Simulations Plus, Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Simulations Plus

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $31.26, for a total value of $625,200.00. Following the sale, the director now directly owns 3,481,592 shares of the company’s stock, valued at approximately $108,834,565.92. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 60,750 shares of company stock valued at $1,905,655 in the last quarter. Corporate insiders own 20.90% of the company’s stock.

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.