KeyCorp Lowers Simulations Plus (NASDAQ:SLP) Price Target to $35.00

Simulations Plus (NASDAQ:SLP) had its target price decreased by KeyCorp from $40.00 to $35.00 in a report issued on Wednesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

SLP has been the topic of several other research reports. William Blair reaffirmed an “outperform” rating on shares of Simulations Plus in a research note on Wednesday. StockNews.com cut shares of Simulations Plus from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Stephens started coverage on shares of Simulations Plus in a research report on Friday, November 15th. They issued an “overweight” rating and a $39.00 price target for the company. Finally, BTIG Research decreased 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 analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.00.

Simulations Plus Stock Performance

Simulations Plus stock opened at $28.21 on Wednesday. Simulations Plus has a one year low of $24.00 and a one year high of $51.22. The stock has a fifty day moving average of $29.79 and a 200 day moving average of $34.00. The stock has a market cap of $566.60 million, a PE ratio of 57.57 and a beta of 0.80.

Simulations Plus (NASDAQ:SLP) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $18.70 million for the quarter, compared to analysts’ expectations 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 was up 19.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. As a group, sell-side analysts predict that Simulations Plus will post 1.1 EPS for the current fiscal year.

Insider Activity

In related news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was 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 in the company, valued at approximately $109,336,467.84. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.40% of the company’s stock.

Institutional Trading of Simulations Plus

Large investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Simulations Plus by 390.6% during the 3rd quarter. Barclays PLC now owns 28,473 shares of the technology company’s stock valued at $911,000 after acquiring an additional 22,669 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Simulations Plus by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 448,618 shares of the technology company’s stock valued at $14,367,000 after acquiring an additional 18,924 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new position in Simulations Plus in the second quarter worth about $811,000. State Street Corp increased its stake in Simulations Plus by 4.7% during the third quarter. State Street Corp now owns 640,303 shares of the technology company’s stock worth $20,503,000 after acquiring an additional 28,953 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in 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 acquiring an additional 32,002 shares during the last quarter. 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.