Simulations Plus, Inc. (NASDAQ:SLP) shares rose 5.2% during trading on Thursday following a dividend announcement from the company. The stock traded as high as $40.93 and last traded at $40.78. Approximately 2,325 shares traded hands during trading, a decline of 99% from the average daily volume of 170,859 shares. The stock had previously closed at $38.78.
The newly announced dividend which will be paid on Monday, November 1st. Investors of record on Monday, October 25th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, October 22nd. Simulations Plus’s payout ratio is currently 42.86%.
Several brokerages have weighed in on SLP. TheStreet downgraded Simulations Plus from a “b-” rating to a “c+” rating in a report on Monday, August 2nd. Craig Hallum cut their price target on Simulations Plus from $74.00 to $65.00 and set a “hold” rating for the company in a report on Tuesday, July 13th. Oppenheimer reiterated a “buy” rating and issued a $75.00 price target on shares of Simulations Plus in a report on Tuesday, July 13th. Raymond James cut their price target on Simulations Plus from $95.00 to $54.00 and set an “outperform” rating for the company in a report on Tuesday, July 13th. Finally, Zacks Investment Research upgraded Simulations Plus from a “sell” rating to a “hold” rating in a report on Friday, September 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $67.50.
Simulations Plus (NASDAQ:SLP) last released its quarterly earnings data on Sunday, July 11th. The technology company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $12.78 million during the quarter, compared to the consensus estimate of $14.99 million. Simulations Plus had a return on equity of 7.34% and a net margin of 25.27%. As a group, analysts predict that Simulations Plus, Inc. will post 0.54 earnings per share for the current year.
In related news, Director Walter S. Woltosz sold 12,455 shares of the stock in a transaction on Thursday, July 29th. The stock was sold at an average price of $47.09, for a total value of $586,505.95. Following the completion of the sale, the director now directly owns 4,443,657 shares in the company, valued at approximately $209,251,808.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Walter S. Woltosz sold 8,803 shares of the stock in a transaction on Monday, August 30th. The shares were sold at an average price of $44.90, for a total value of $395,254.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,958 shares of company stock valued at $2,185,860. 23.24% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its position in Simulations Plus by 57.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 929 shares of the technology company’s stock valued at $51,000 after buying an additional 338 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Simulations Plus by 67.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,191 shares of the technology company’s stock valued at $65,000 after buying an additional 480 shares during the last quarter. FORA Capital LLC purchased a new position in Simulations Plus in the 1st quarter valued at about $120,000. Amundi purchased a new position in Simulations Plus in the 2nd quarter valued at about $155,000. Finally, US Bancorp DE boosted its position in Simulations Plus by 46.4% in the 2nd quarter. US Bancorp DE now owns 3,151 shares of the technology company’s stock valued at $173,000 after buying an additional 999 shares during the last quarter. 71.33% of the stock is owned by institutional investors.
About Simulations Plus (NASDAQ:SLP)
Simulations Plus, Inc provides modeling and simulation software and consulting services supporting drug discovery, development research, and regulatory submissions. It operates through the following segments: Simulations Plus, Inc, Cognigen Corporation, DILIsym, and Lixoft. It designs and develops pharmaceutical simulation software to promote cost-effective solutions to a number of problems in pharmaceutical research and in the education of pharmacy and medical students.
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