Simulations Plus (NASDAQ:SLP) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Simulations Plus (NASDAQ:SLP) announced its quarterly earnings results on Wednesday. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02, Briefing.com reports. Simulations Plus had a net margin of 16.22% and a return on equity of 8.02%. The firm had revenue of $18.31 million during the quarter, compared to the consensus estimate of $17.31 million. During the same period last year, the firm posted $0.20 EPS. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. Simulations Plus updated its FY24 guidance to $0.66-0.68 EPS and its FY 2024 guidance to 0.660-0.680 EPS.

Simulations Plus Price Performance

SLP traded down $0.03 during trading on Friday, reaching $47.51. The company had a trading volume of 65,849 shares, compared to its average volume of 108,038. Simulations Plus has a 12 month low of $32.69 and a 12 month high of $52.69. The business’s fifty day moving average price is $41.48 and its 200 day moving average price is $40.43. The company has a market cap of $948.77 million, a P/E ratio of 89.70 and a beta of 0.72.

Simulations Plus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Friday, April 26th. Simulations Plus’s payout ratio is currently 45.28%.

Insider Transactions at Simulations Plus

In other news, Director Walter S. Woltosz sold 18,945 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.02, for a total value of $720,288.90. Following the sale, the director now owns 3,641,250 shares of the company’s stock, valued at $138,440,325. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Walter S. Woltosz sold 18,945 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.02, for a total value of $720,288.90. Following the sale, the director now owns 3,641,250 shares of the company’s stock, valued at $138,440,325. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $39.94, for a total transaction of $798,800.00. Following the completion of the sale, the director now directly owns 3,600,195 shares in the company, valued at approximately $143,791,788.30. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simulations Plus

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Simulations Plus by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 1,122,469 shares of the technology company’s stock valued at $50,230,000 after acquiring an additional 3,591 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Simulations Plus by 17.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,486 shares of the technology company’s stock valued at $425,000 after acquiring an additional 1,397 shares in the last quarter. Barclays PLC grew its stake in shares of Simulations Plus by 20,036.3% in the fourth quarter. Barclays PLC now owns 24,969 shares of the technology company’s stock valued at $1,118,000 after acquiring an additional 24,845 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Simulations Plus by 1.3% in the fourth quarter. Nuveen Asset Management LLC now owns 47,067 shares of the technology company’s stock valued at $2,106,000 after acquiring an additional 585 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Simulations Plus by 68.0% in the fourth quarter. Public Sector Pension Investment Board now owns 33,105 shares of the technology company’s stock valued at $1,481,000 after acquiring an additional 13,402 shares in the last quarter. 78.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum raised their price objective on shares of Simulations Plus from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, January 4th.

Simulations Plus Company 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.