KeyCorp Has Lowered Expectations for Simulations Plus (NASDAQ:SLP) Stock Price

Simulations Plus (NASDAQ:SLP) had its price objective cut by research analysts at KeyCorp from $40.00 to $35.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price would suggest a potential upside of 24.07% from the company’s previous close.

SLP has been the subject of a number of other reports. William Blair reissued an “outperform” rating on shares of Simulations Plus in a report on Wednesday. Stephens began coverage on shares of Simulations Plus in a research note on Friday, November 15th. They issued an “overweight” rating and a $39.00 target price for the company. BTIG Research cut their price objective on shares of Simulations Plus from $60.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, StockNews.com lowered shares of Simulations Plus from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.00.

Simulations Plus Stock Down 7.2 %

Shares of SLP opened at $28.21 on Wednesday. The company has a 50 day moving average of $29.81 and a two-hundred day moving average of $33.96. Simulations Plus has a twelve month low of $24.00 and a twelve month high of $51.22. The company has a market cap of $566.60 million, a price-to-earnings ratio of 57.57 and a beta of 0.80.

Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. The firm 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 revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share. On average, sell-side analysts expect that Simulations Plus will post 1.1 EPS for the current year.

Insider Activity at Simulations Plus

In other news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $31.76, for a total transaction of $635,200.00. Following the completion of the sale, the director now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 19.40% of the company’s stock.

Institutional Trading of Simulations Plus

Institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its stake in shares of Simulations Plus by 390.6% during the third quarter. Barclays PLC now owns 28,473 shares of the technology company’s stock worth $911,000 after buying an additional 22,669 shares during the period. Geode Capital Management LLC lifted its position in Simulations Plus by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 448,618 shares of the technology company’s stock worth $14,367,000 after acquiring an additional 18,924 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in shares of Simulations Plus in the 2nd quarter valued at approximately $811,000. State Street Corp increased its holdings in shares of Simulations Plus by 4.7% in the third quarter. State Street Corp now owns 640,303 shares of the technology company’s stock valued at $20,503,000 after purchasing an additional 28,953 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Simulations Plus by 402.9% during the third quarter. BNP Paribas Financial Markets now owns 39,944 shares of the technology company’s stock worth $1,279,000 after purchasing an additional 32,002 shares during the last quarter. Hedge funds and other institutional investors own 78.08% 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.