Simulations Plus (NASDAQ:SLP) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Simulations Plus (NASDAQ:SLP) issued its quarterly earnings results on Tuesday. The technology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04, Briefing.com reports. The company had revenue of $18.54 million during the quarter, compared to analysts’ expectations of $17.92 million. Simulations Plus had a net margin of 14.36% and a return on equity of 7.80%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS. 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 Price Performance

SLP stock opened at $39.89 on Thursday. The company has a fifty day moving average price of $47.68 and a two-hundred day moving average price of $44.15. Simulations Plus has a one year low of $32.69 and a one year high of $52.69. The stock has a market cap of $797.40 million, a price-to-earnings ratio of 75.26 and a beta of 0.72.

Simulations Plus Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Oppenheimer raised their price target on shares of Simulations Plus from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Craig Hallum reaffirmed a “buy” rating and set a $56.00 price target on shares of Simulations Plus in a research note on Wednesday. Finally, William Blair began coverage on shares of Simulations Plus in a research note on Friday, June 28th. They set an “outperform” rating for the company.

Insiders Place Their Bets

In other Simulations Plus news, Director Daniel L. Weiner sold 3,250 shares of Simulations Plus stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $48.31, for a total transaction of $157,007.50. Following the completion of the transaction, the director now directly owns 8,759 shares of the company’s stock, valued at $423,147.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Daniel L. Weiner sold 750 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $49.32, for a total value of $36,990.00. Following the completion of the transaction, the director now owns 7,009 shares of the company’s stock, valued at $345,683.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel L. Weiner sold 3,250 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $48.31, for a total value of $157,007.50. Following the completion of the transaction, the director now directly owns 8,759 shares of the company’s stock, valued at approximately $423,147.29. The disclosure for this sale can be found here. Insiders sold a total of 44,500 shares of company stock valued at $2,072,198 over the last ninety days. 20.90% of the stock is currently owned by company insiders.

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.