Rhumbline Advisers Trims Stake in Simulations Plus, Inc. (NASDAQ:SLP)

Rhumbline Advisers reduced its stake in Simulations Plus, Inc. (NASDAQ:SLP) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,888 shares of the technology company’s stock after selling 1,663 shares during the period. Rhumbline Advisers owned 0.32% of Simulations Plus worth $1,810,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in Simulations Plus by 37.0% in the third quarter. US Bancorp DE now owns 4,974 shares of the technology company’s stock worth $159,000 after purchasing an additional 1,343 shares during the period. Principal Financial Group Inc. raised its holdings in Simulations Plus by 2.6% in the 3rd quarter. Principal Financial Group Inc. now owns 87,273 shares of the technology company’s stock worth $2,794,000 after acquiring an additional 2,226 shares during the last quarter. Royce & Associates LP raised its holdings in Simulations Plus by 28.8% in the 3rd quarter. Royce & Associates LP now owns 237,416 shares of the technology company’s stock worth $7,602,000 after acquiring an additional 53,092 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Simulations Plus by 18.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 85,275 shares of the technology company’s stock valued at $2,731,000 after acquiring an additional 13,418 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Simulations Plus by 82.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 818 shares of the technology company’s stock valued at $26,000 after purchasing an additional 370 shares during the last quarter. 78.08% of the stock is owned by hedge funds and other institutional investors.

Simulations Plus Price Performance

Shares of SLP opened at $28.54 on Tuesday. The stock has a market capitalization of $573.43 million, a price-to-earnings ratio of 71.35 and a beta of 0.83. The business’s 50 day simple moving average is $31.78 and its 200-day simple moving average is $31.80. Simulations Plus, Inc. has a 1 year low of $24.00 and a 1 year high of $51.22.

Wall Street Analysts Forecast Growth

SLP has been the subject of a number of research reports. StockNews.com lowered shares of Simulations Plus from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. William Blair reissued an “outperform” rating on shares of Simulations Plus in a research note on Wednesday, January 8th. KeyCorp lifted their target price on shares of Simulations Plus from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Stephens started coverage on Simulations Plus in a research note on Friday, November 15th. They issued an “overweight” rating and a $39.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Simulations Plus has an average rating of “Moderate Buy” and an average price target of $49.40.

Insiders Place Their Bets

In related news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $33.91, for a total transaction of $678,200.00. Following the sale, the director now owns 3,402,584 shares in the company, valued at approximately $115,381,623.44. This represents a 0.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.40% of the company’s stock.

Simulations Plus 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.