Simulations Plus (NASDAQ:SLP) Announces Earnings Results

Simulations Plus (NASDAQ:SLP) announced its quarterly earnings results on Tuesday. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04, Briefing.com reports. Simulations Plus had a net margin of 14.36% and a return on equity of 7.80%. The firm had revenue of $18.54 million for the quarter, compared to analyst estimates of $17.92 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. Simulations Plus updated its FY24 guidance to $0.54-0.56 EPS and its FY 2024 guidance to 0.540-0.560 EPS.

Simulations Plus Stock Down 14.9 %

NASDAQ SLP opened at $39.89 on Thursday. Simulations Plus has a 12-month low of $32.69 and a 12-month high of $52.69. The company has a market capitalization of $797.40 million, a PE ratio of 75.26 and a beta of 0.72. The firm’s 50 day moving average is $47.68 and its 200-day moving average is $44.15.

Simulations Plus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 29th will be issued a $0.06 dividend. The ex-dividend date is Monday, July 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.60%. Simulations Plus’s dividend payout ratio (DPR) is presently 45.28%.

Analysts Set New Price Targets

SLP has been the topic of a number of research reports. Craig Hallum reaffirmed a “buy” rating and issued a $56.00 price target on shares of Simulations Plus in a research note on Wednesday. William Blair initiated coverage on shares of Simulations Plus in a research note on Friday, June 28th. They issued an “outperform” rating on the stock. Finally, Oppenheimer lifted their price target on shares of Simulations Plus from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th.

Insider Activity

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $45.95, for a total transaction of $919,000.00. Following the completion of the transaction, the director now directly owns 3,580,857 shares of the company’s stock, valued at $164,540,379.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $45.95, for a total value of $919,000.00. Following the completion of the sale, the director now owns 3,580,857 shares of the company’s stock, valued at $164,540,379.15. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel L. Weiner sold 750 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $49.32, for a total transaction of $36,990.00. Following the completion of the sale, the director now directly owns 7,009 shares of the company’s stock, valued at approximately $345,683.88. The disclosure for this sale can be found here. Insiders have sold 44,500 shares of company stock worth $2,072,198 over the last ninety days. Insiders own 20.90% 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.