Certara, Inc. (NASDAQ:CERT) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its holdings in shares of Certara, Inc. (NASDAQ:CERT) by 10.4% during the third quarter, Holdings Channel.com reports. The firm owned 115,552 shares of the company’s stock after selling 13,374 shares during the quarter. M&T Bank Corp’s holdings in Certara were worth $1,352,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in Certara by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 22,871 shares of the company’s stock worth $317,000 after purchasing an additional 975 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Certara by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 54,200 shares of the company’s stock worth $751,000 after buying an additional 1,200 shares in the last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of Certara by 6.6% in the third quarter. Nicolet Advisory Services LLC now owns 24,831 shares of the company’s stock valued at $273,000 after buying an additional 1,531 shares during the period. KBC Group NV boosted its stake in Certara by 48.2% during the third quarter. KBC Group NV now owns 4,873 shares of the company’s stock valued at $57,000 after buying an additional 1,584 shares in the last quarter. Finally, Blue Trust Inc. acquired a new position in Certara during the second quarter worth about $26,000. 73.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Patrick F. Smith sold 5,409 shares of Certara stock in a transaction on Monday, October 7th. The stock was sold at an average price of $11.03, for a total transaction of $59,661.27. Following the transaction, the insider now owns 50,091 shares in the company, valued at approximately $552,503.73. The trade was a 9.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.39% of the company’s stock.

Analysts Set New Price Targets

CERT has been the subject of a number of research analyst reports. UBS Group raised shares of Certara from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday, September 27th. Barclays cut their target price on shares of Certara from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Robert W. Baird decreased their price target on shares of Certara from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.92.

Certara Price Performance

CERT stock opened at $11.47 on Monday. Certara, Inc. has a one year low of $9.41 and a one year high of $19.87. The firm has a 50-day moving average of $10.84 and a two-hundred day moving average of $12.61. The firm has a market capitalization of $1.85 billion, a PE ratio of -57.35, a P/E/G ratio of 5.86 and a beta of 1.53. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.28.

Certara (NASDAQ:CERT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Certara had a negative net margin of 8.34% and a positive return on equity of 3.43%. The business had revenue of $94.80 million for the quarter, compared to analyst estimates of $95.51 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. On average, analysts forecast that Certara, Inc. will post 0.28 earnings per share for the current year.

Certara Company Profile

Certara, Inc, together with its subsidiaries, provides software products and technology-enabled services to customers for biosimulation in drug discovery, preclinical and clinical research, regulatory submissions, and market access in the United States and internationally. It offers solutions for model-informed drug development, as well as biosimulation solution used to predict both pharmacokinetics and pharmacodynamics.