Geode Capital Management LLC Acquires 18,924 Shares of Simulations Plus, Inc. (NASDAQ:SLP)

Geode Capital Management LLC lifted its holdings in Simulations Plus, Inc. (NASDAQ:SLP) by 4.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 448,618 shares of the technology company’s stock after acquiring an additional 18,924 shares during the quarter. Geode Capital Management LLC owned 2.24% of Simulations Plus worth $14,367,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SLP. First Horizon Advisors Inc. lifted its holdings in shares of Simulations Plus by 82.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 818 shares of the technology company’s stock worth $26,000 after acquiring an additional 370 shares during the last quarter. nVerses Capital LLC raised its holdings in Simulations Plus by 1,100.0% during the 3rd quarter. nVerses Capital LLC now owns 1,200 shares of the technology company’s stock valued at $38,000 after buying an additional 1,100 shares during the last quarter. Quantbot Technologies LP bought a new stake in Simulations Plus during the 3rd quarter valued at $59,000. US Bancorp DE raised its holdings in Simulations Plus by 37.0% during the 3rd quarter. US Bancorp DE now owns 4,974 shares of the technology company’s stock valued at $159,000 after buying an additional 1,343 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Simulations Plus during the 2nd quarter valued at $206,000. 78.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Stephens assumed coverage on shares of Simulations Plus in a report on Friday, November 15th. They set an “overweight” rating and a $39.00 price target for the company. StockNews.com lowered shares of Simulations Plus from a “hold” rating to a “sell” rating in a report on Monday, November 4th. William Blair reiterated an “outperform” rating on shares of Simulations Plus in a report on Wednesday, November 6th. Finally, BTIG Research reduced their price objective on shares of Simulations Plus from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.40.

Simulations Plus Trading Down 2.5 %

Shares of Simulations Plus stock opened at $27.94 on Tuesday. The company’s fifty day simple moving average is $30.17 and its two-hundred day simple moving average is $34.82. The company has a market cap of $561.17 million, a P/E ratio of 57.02 and a beta of 0.76. Simulations Plus, Inc. has a 12-month low of $27.07 and a 12-month high of $51.22.

Simulations Plus (NASDAQ:SLP) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $18.70 million for the quarter, compared to the consensus estimate of $19.73 million. Simulations Plus had a net margin of 14.15% and a return on equity of 6.16%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. Analysts predict that Simulations Plus, Inc. will post 1.1 EPS for the current fiscal year.

Insider Transactions at Simulations Plus

In other news, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $31.76, for a total value of $635,200.00. Following the sale, the director now directly owns 3,442,584 shares of the company’s stock, valued at $109,336,467.84. This represents a 0.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.