Simulations Plus (NASDAQ:SLP) Stock Price Down 11.5% – Here’s Why

Shares of Simulations Plus, Inc. (NASDAQ:SLP) dropped 11.5% on Monday . The company traded as low as $29.43 and last traded at $28.19. Approximately 39,996 shares traded hands during trading, a decline of 82% from the average daily volume of 218,848 shares. The stock had previously closed at $31.85.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Simulations Plus in a report on Tuesday. KeyCorp upped their target price on shares of Simulations Plus from $32.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. Finally, Wall Street Zen raised shares of Simulations Plus from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Simulations Plus Trading Up 6.3%

The company has a market capitalization of $563.91 million, a P/E ratio of 70.10 and a beta of 1.10. The business has a 50 day moving average price of $30.50 and a 200 day moving average price of $30.39.

Simulations Plus (NASDAQ:SLP) last issued its quarterly earnings data on Thursday, April 3rd. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. The firm had revenue of $22.43 million during the quarter, compared to analysts’ expectations of $21.93 million. Simulations Plus had a net margin of 10.97% and a return on equity of 6.84%. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share. On average, analysts forecast that Simulations Plus, Inc. will post 1.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $33.51, for a total transaction of $670,200.00. Following the completion of the sale, the director now directly owns 3,344,157 shares of the company’s stock, valued at approximately $112,062,701.07. This represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Simulations Plus

Several institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its holdings in Simulations Plus by 53.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,223 shares of the technology company’s stock worth $34,000 after purchasing an additional 427 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Simulations Plus by 33.8% during the first quarter. Fifth Third Bancorp now owns 1,485 shares of the technology company’s stock worth $36,000 after buying an additional 375 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Simulations Plus during the fourth quarter worth about $39,000. Tower Research Capital LLC TRC grew its holdings in shares of Simulations Plus by 42.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the technology company’s stock worth $72,000 after buying an additional 764 shares in the last quarter. Finally, AlphaQuest LLC raised its position in Simulations Plus by 502.9% in the 4th quarter. AlphaQuest LLC now owns 2,689 shares of the technology company’s stock valued at $75,000 after buying an additional 2,243 shares during the last quarter. 78.08% of the stock is owned by institutional investors.

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.