Canton Hathaway LLC lowered its stake in shares of Simulations Plus, Inc. (NASDAQ:SLP) by 37.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,000 shares of the technology company’s stock after selling 6,000 shares during the quarter. Canton Hathaway LLC’s holdings in Simulations Plus were worth $395,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in Simulations Plus by 16.9% in the second quarter. Envestnet Asset Management Inc. now owns 19,571 shares of the technology company’s stock worth $1,075,000 after purchasing an additional 2,829 shares during the last quarter. Royal Bank of Canada increased its position in Simulations Plus by 75.6% in the first quarter. Royal Bank of Canada now owns 26,883 shares of the technology company’s stock worth $1,699,000 after purchasing an additional 11,573 shares during the last quarter. Prentiss Smith & Co. Inc. bought a new stake in Simulations Plus in the second quarter worth $2,021,000. Marshall Wace LLP increased its position in Simulations Plus by 162.6% in the second quarter. Marshall Wace LLP now owns 31,920 shares of the technology company’s stock worth $1,753,000 after purchasing an additional 19,764 shares during the last quarter. Finally, First Light Asset Management LLC increased its position in Simulations Plus by 2.4% in the second quarter. First Light Asset Management LLC now owns 75,832 shares of the technology company’s stock worth $4,164,000 after purchasing an additional 1,752 shares during the last quarter. Institutional investors own 70.85% of the company’s stock.
Several brokerages recently weighed in on SLP. TheStreet cut shares of Simulations Plus from a “b-” rating to a “c+” rating in a research report on Monday, August 2nd. Zacks Investment Research lowered shares of Simulations Plus from a “hold” rating to a “sell” rating in a research note on Friday, October 29th. Finally, Craig Hallum raised shares of Simulations Plus from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $65.00 to $53.00 in a research note on Tuesday, October 26th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $64.50.
Simulations Plus (NASDAQ:SLP) last issued its earnings results on Sunday, October 24th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.04). The company had revenue of $9.84 million for the quarter, compared to analysts’ expectations of $8.14 million. Simulations Plus had a net margin of 21.05% and a return on equity of 6.01%. During the same period in the prior year, the firm posted $0.12 earnings per share. On average, equities analysts expect that Simulations Plus, Inc. will post 0.49 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 1st. Investors of record on Monday, October 25th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Friday, October 22nd. Simulations Plus’s dividend payout ratio (DPR) is presently 52.17%.
In other Simulations Plus news, Director Walter S. Woltosz sold 8,803 shares of the business’s stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $44.90, for a total value of $395,254.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 28th. The stock was sold at an average price of $38.54, for a total transaction of $770,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,503 shares of company stock valued at $2,505,754. 23.24% of the stock is owned by insiders.
About Simulations Plus
Simulations Plus, Inc provides modeling and simulation software and consulting services supporting drug discovery, development research, and regulatory submissions. It operates through the following segments: Simulations Plus, Inc, Cognigen Corporation, DILIsym, and Lixoft. It designs and develops pharmaceutical simulation software to promote cost-effective solutions to a number of problems in pharmaceutical research and in the education of pharmacy and medical students.
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