Rhumbline Advisers reduced its holdings in Simulations Plus, Inc. (NASDAQ:SLP) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,329 shares of the technology company’s stock after selling 944 shares during the quarter. Rhumbline Advisers owned about 0.24% of Simulations Plus worth $2,654,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. OLD Mission Capital LLC purchased a new position in shares of Simulations Plus in the 3rd quarter valued at approximately $309,000. US Bancorp DE lifted its stake in shares of Simulations Plus by 63.4% in the 1st quarter. US Bancorp DE now owns 2,152 shares of the technology company’s stock valued at $136,000 after purchasing an additional 835 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Simulations Plus by 76.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,165 shares of the technology company’s stock valued at $263,000 after purchasing an additional 1,809 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Simulations Plus by 1.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 16,742 shares of the technology company’s stock valued at $1,059,000 after purchasing an additional 181 shares during the period. Finally, Blueshift Asset Management LLC purchased a new position in shares of Simulations Plus in the 1st quarter valued at approximately $527,000. Hedge funds and other institutional investors own 71.33% of the company’s stock.
In other Simulations Plus news, Director Walter S. Woltosz sold 12,455 shares of the business’s stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $47.09, for a total transaction of $586,505.95. Following the completion of the sale, the director now owns 4,443,657 shares of the company’s stock, valued at $209,251,808.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter S. Woltosz sold 8,803 shares of the business’s stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $44.90, for a total value of $395,254.70. The disclosure for this sale can be found here. In the last three months, insiders sold 41,656 shares of company stock valued at $1,988,472. Corporate insiders own 23.24% of the company’s stock.
Simulations Plus (NASDAQ:SLP) last posted its earnings results on Sunday, July 11th. The technology company reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. The business had revenue of $12.78 million during the quarter, compared to analyst estimates of $14.99 million. Simulations Plus had a return on equity of 7.34% and a net margin of 25.27%. On average, research analysts expect that Simulations Plus, Inc. will post 0.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Shareholders of record on Monday, July 26th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, July 23rd. Simulations Plus’s payout ratio is 42.86%.
SLP has been the subject of a number of research analyst reports. Raymond James lowered their target price on Simulations Plus from $95.00 to $54.00 and set an “outperform” rating for the company in a research note on Tuesday, July 13th. Oppenheimer reiterated a “buy” rating and set a $75.00 price objective on shares of Simulations Plus in a research note on Tuesday, July 13th. Zacks Investment Research upgraded Simulations Plus from a “sell” rating to a “hold” rating in a research note on Friday, September 3rd. TheStreet cut Simulations Plus from a “b-” rating to a “c+” rating in a research note on Monday, August 2nd. Finally, Craig Hallum lowered their price objective on Simulations Plus from $74.00 to $65.00 and set a “hold” rating for the company in a research note on Tuesday, July 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $67.50.
Simulations Plus Company Profile
Simulations Plus, Inc provides modeling and simulation software and consulting services supporting drug discovery, development research, and regulatory submissions. It operates through the following segments: Simulations Plus, Inc, Cognigen Corporation, DILIsym, and Lixoft. It designs and develops pharmaceutical simulation software to promote cost-effective solutions to a number of problems in pharmaceutical research and in the education of pharmacy and medical students.
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