Simulations Plus (NASDAQ:SLP) Issues Earnings Results

Simulations Plus (NASDAQ:SLP) posted its quarterly earnings data on Tuesday. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04, Briefing.com reports. Simulations Plus had a net margin of 14.36% and a return on equity of 7.80%. The company had revenue of $18.54 million during the quarter, compared to analysts’ expectations of $17.92 million. During the same period in the prior year, the company posted $0.20 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Simulations Plus updated its FY24 guidance to $0.54-0.56 EPS and its FY 2024 guidance to 0.540-0.560 EPS.

Simulations Plus Stock Performance

Simulations Plus stock opened at $39.89 on Thursday. Simulations Plus has a 1 year low of $32.69 and a 1 year high of $52.69. The firm’s 50-day moving average is $47.68 and its 200-day moving average is $44.15. The company has a market cap of $797.40 million, a P/E ratio of 75.26 and a beta of 0.72.

Simulations Plus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 29th will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, July 29th. This represents a $0.24 annualized dividend and a yield of 0.60%. Simulations Plus’s payout ratio is 45.28%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SLP shares. William Blair assumed coverage on Simulations Plus in a report on Friday, June 28th. They set an “outperform” rating on the stock. Craig Hallum restated a “buy” rating and issued a $56.00 price target on shares of Simulations Plus in a research note on Wednesday. Finally, Oppenheimer increased their price objective on shares of Simulations Plus from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th.

Insider Activity

In other news, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $46.71, for a total transaction of $934,200.00. Following the completion of the transaction, the director now directly owns 3,540,857 shares of the company’s stock, valued at $165,393,430.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $46.71, for a total transaction of $934,200.00. Following the completion of the transaction, the director now owns 3,540,857 shares of the company’s stock, valued at $165,393,430.47. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel L. Weiner sold 3,250 shares of the company’s stock in a transaction dated 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 approximately $423,147.29. The disclosure for this sale can be found here. In the last three months, insiders sold 44,500 shares of company stock valued at $2,072,198. Company insiders own 20.90% of the company’s stock.

About Simulations Plus

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.