Tributary Capital Management LLC Boosts Stake in Simulations Plus, Inc. (NASDAQ:SLP)

Tributary Capital Management LLC raised its position in Simulations Plus, Inc. (NASDAQ:SLP) by 54.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 325,567 shares of the technology company’s stock after buying an additional 115,122 shares during the period. Tributary Capital Management LLC owned approximately 1.63% of Simulations Plus worth $10,425,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC lifted its position in shares of Simulations Plus by 1,100.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the technology company’s stock worth $38,000 after purchasing an additional 1,100 shares during the last quarter. EntryPoint Capital LLC bought a new position in Simulations Plus in the first quarter worth about $57,000. Allspring Global Investments Holdings LLC bought a new position in Simulations Plus in the first quarter worth about $70,000. Connecticut Wealth Management LLC bought a new position in Simulations Plus in the first quarter worth about $204,000. Finally, Los Angeles Capital Management LLC bought a new position in Simulations Plus in the second quarter worth about $206,000. 78.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLP has been the topic of several analyst reports. William Blair restated an “outperform” rating on shares of Simulations Plus in a research note on Thursday. BTIG Research dropped their price target on shares of Simulations Plus from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday. KeyCorp initiated coverage on shares of Simulations Plus in a research note on Monday, July 29th. They issued an “overweight” rating and a $47.00 price target on the stock. Craig Hallum restated a “buy” rating and issued a $56.00 price target on shares of Simulations Plus in a research note on Wednesday, July 3rd. Finally, JMP Securities started coverage on shares of Simulations Plus in a research note on Tuesday, July 16th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Insider Buying and Selling

In related news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $35.18, for a total value of $703,600.00. Following the completion of the transaction, the director now owns 3,501,592 shares of the company’s stock, valued at approximately $123,186,006.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 60,750 shares of company stock valued at $2,145,055. Company insiders own 20.90% of the company’s stock.

Simulations Plus Stock Performance

Simulations Plus stock opened at $30.68 on Monday. The firm has a market cap of $613.91 million, a price-to-earnings ratio of 62.61 and a beta of 0.69. Simulations Plus, Inc. has a 1 year low of $29.37 and a 1 year high of $51.22. The firm’s 50 day moving average price is $33.08 and its two-hundred day moving average price is $40.56.

Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $18.70 million for the quarter, compared to analyst estimates of $19.73 million. Simulations Plus had a net margin of 14.15% and a return on equity of 6.16%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. As a group, equities analysts predict that Simulations Plus, Inc. will post 1.14 EPS for the current fiscal year.

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.