Congress Asset Management Co. MA Sells 3,445 Shares of Simulations Plus, Inc. (NASDAQ:SLP)

Congress Asset Management Co. MA decreased its holdings in shares of Simulations Plus, Inc. (NASDAQ:SLP) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,361 shares of the technology company’s stock after selling 3,445 shares during the quarter. Congress Asset Management Co. MA owned about 0.64% of Simulations Plus worth $5,699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new position in shares of Simulations Plus during the third quarter valued at about $57,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Simulations Plus by 194.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,487 shares of the technology company’s stock worth $62,000 after acquiring an additional 982 shares during the period. Canton Hathaway LLC increased its position in shares of Simulations Plus by 25.0% during the fourth quarter. Canton Hathaway LLC now owns 5,000 shares of the technology company’s stock valued at $224,000 after purchasing an additional 1,000 shares during the period. Algert Global LLC acquired a new position in shares of Simulations Plus in the third quarter valued at $335,000. Finally, First National Bank of Omaha bought a new position in Simulations Plus in the fourth quarter worth $337,000. Institutional investors and hedge funds own 78.08% of the company’s stock.

Analysts Set New Price Targets

SLP has been the topic of several analyst reports. Craig Hallum boosted their price target on shares of Simulations Plus from $51.00 to $56.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer increased their price target on shares of Simulations Plus from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday.

Simulations Plus Stock Performance

Shares of NASDAQ:SLP opened at $46.66 on Monday. The company’s fifty day moving average is $47.60 and its 200-day moving average is $43.53. Simulations Plus, Inc. has a 52 week low of $32.69 and a 52 week high of $52.69. The company has a market capitalization of $932.73 million, a PE ratio of 88.04 and a beta of 0.75.

Simulations Plus (NASDAQ:SLP) last released its quarterly earnings results on Wednesday, April 3rd. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $18.31 million for the quarter, compared to analyst estimates of $17.31 million. Simulations Plus had a net margin of 16.22% and a return on equity of 7.95%. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. On average, analysts forecast that Simulations Plus, Inc. will post 0.69 EPS for the current year.

Simulations Plus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.51%. Simulations Plus’s dividend payout ratio is 45.28%.

Insider Buying and Selling

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $39.94, for a total value of $798,800.00. Following the completion of the transaction, the director now directly owns 3,600,195 shares of the company’s stock, valued at $143,791,788.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Daniel L. Weiner sold 3,250 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $48.31, for a total transaction of $157,007.50. Following the transaction, the director now owns 8,759 shares of the company’s stock, valued at $423,147.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $39.94, for a total value of $798,800.00. Following the completion of the sale, the director now owns 3,600,195 shares of the company’s stock, valued at $143,791,788.30. The disclosure for this sale can be found here. Insiders have sold a total of 43,750 shares of company stock worth $1,899,808 in the last 90 days. 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.