Simulations Plus (NASDAQ:SLP) Given New $37.00 Price Target at KeyCorp

Simulations Plus (NASDAQ:SLP) had its price target boosted by KeyCorp from $35.00 to $37.00 in a research note released on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also issued reports on the company. StockNews.com lowered Simulations Plus from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. BTIG Research decreased their price objective on shares of Simulations Plus from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. William Blair reissued an “outperform” rating on shares of Simulations Plus in a research note on Wednesday, January 8th. Finally, Stephens assumed coverage on shares of Simulations Plus in a research note on Friday, November 15th. They issued an “overweight” rating and a $39.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.40.

Simulations Plus Stock Performance

Shares of Simulations Plus stock opened at $33.78 on Friday. The firm has a 50-day simple moving average of $29.95 and a two-hundred day simple moving average of $32.89. Simulations Plus has a fifty-two week low of $24.00 and a fifty-two week high of $51.22. The company has a market cap of $678.64 million, a P/E ratio of 84.45 and a beta of 0.80.

Simulations Plus (NASDAQ:SLP) last released its quarterly earnings results 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. Simulations Plus had a return on equity of 6.84% and a net margin of 10.97%. The company had revenue of $18.70 million during the quarter, compared to analysts’ expectations of $19.73 million. Simulations Plus’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. Equities research analysts forecast that Simulations Plus will post 1.09 EPS for the current year.

Insider Activity at Simulations Plus

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $31.76, for a total transaction of $635,200.00. Following the transaction, the director now owns 3,442,584 shares of the company’s stock, valued at approximately $109,336,467.84. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 19.40% of the stock is owned by corporate insiders.

Institutional Trading of Simulations Plus

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its holdings in shares of Simulations Plus by 82.6% in the third quarter. First Horizon Advisors Inc. now owns 818 shares of the technology company’s stock valued at $26,000 after purchasing an additional 370 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Simulations Plus by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,391 shares of the technology company’s stock valued at $311,000 after buying an additional 456 shares during the period. Pitcairn Co. increased its holdings in shares of Simulations Plus by 9.1% during the 3rd quarter. Pitcairn Co. now owns 6,599 shares of the technology company’s stock worth $211,000 after buying an additional 549 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Simulations Plus by 7.6% during the 3rd quarter. Franklin Resources Inc. now owns 10,797 shares of the technology company’s stock valued at $342,000 after buying an additional 766 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in Simulations Plus by 1.5% in the second quarter. Envestnet Asset Management Inc. now owns 54,813 shares of the technology company’s stock valued at $2,665,000 after acquiring an additional 784 shares during the last quarter. 78.08% of the stock is owned by institutional investors and hedge funds.

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.