Redmond Asset Management LLC Decreases Position in Simulations Plus, Inc. (NASDAQ:SLP)

Redmond Asset Management LLC lessened its holdings in shares of Simulations Plus, Inc. (NASDAQ:SLP) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,770 shares of the technology company’s stock after selling 500 shares during the period. Redmond Asset Management LLC’s holdings in Simulations Plus were worth $523,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its position in shares of Simulations Plus by 82.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 818 shares of the technology company’s stock valued at $26,000 after acquiring an additional 370 shares during the period. Pitcairn Co. increased its position in shares of Simulations Plus by 9.1% in the 3rd quarter. Pitcairn Co. now owns 6,599 shares of the technology company’s stock valued at $211,000 after acquiring an additional 549 shares during the period. Franklin Resources Inc. increased its position in shares of Simulations Plus by 7.6% in the 3rd quarter. Franklin Resources Inc. now owns 10,797 shares of the technology company’s stock valued at $342,000 after acquiring an additional 766 shares during the period. US Bancorp DE increased its position in shares of Simulations Plus by 37.0% in the 3rd quarter. US Bancorp DE now owns 4,974 shares of the technology company’s stock valued at $159,000 after acquiring an additional 1,343 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Simulations Plus in the 3rd quarter valued at $59,000. Hedge funds and other institutional investors own 78.08% of the company’s stock.

Insider Activity

In other news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $33.91, for a total transaction of $678,200.00. Following the sale, the director now directly owns 3,402,584 shares in the company, valued at $115,381,623.44. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 19.40% of the company’s stock.

Simulations Plus Stock Down 0.2 %

NASDAQ:SLP opened at $31.77 on Friday. Simulations Plus, Inc. has a 52 week low of $24.00 and a 52 week high of $51.22. The stock has a market capitalization of $638.32 million, a PE ratio of 79.43 and a beta of 0.83. The stock’s 50-day moving average price is $31.71 and its 200-day moving average price is $32.12.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of Simulations Plus in a research report on Wednesday, January 8th. StockNews.com downgraded Simulations Plus from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Stephens started coverage on Simulations Plus in a research report on Friday, November 15th. They set an “overweight” rating and a $39.00 price target on the stock. Finally, KeyCorp increased their price target on Simulations Plus from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Simulations Plus presently has a consensus rating of “Moderate Buy” and an average price target of $49.40.

Simulations Plus 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.