Simulations Plus (NASDAQ:SLP) Issues Earnings Results, Beats Estimates By $0.02 EPS

Simulations Plus (NASDAQ:SLP) issued its earnings results on Wednesday. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02, Briefing.com reports. The company had revenue of $18.31 million during the quarter, compared to analyst estimates of $17.31 million. Simulations Plus had a return on equity of 8.02% and a net margin of 16.22%. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. Simulations Plus updated its FY24 guidance to $0.66-0.68 EPS and its FY 2024 guidance to 0.660-0.680 EPS.

Simulations Plus Stock Up 1.4 %

NASDAQ SLP traded up $0.68 during trading hours on Friday, hitting $48.22. 97,310 shares of the stock were exchanged, compared to its average volume of 108,569. Simulations Plus has a 12-month low of $32.69 and a 12-month high of $52.69. The company has a market cap of $962.95 million, a price-to-earnings ratio of 89.70 and a beta of 0.72. The stock has a 50-day moving average of $41.48 and a 200 day moving average of $40.43.

Simulations Plus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.24 annualized dividend and a yield of 0.50%. Simulations Plus’s dividend payout ratio is currently 45.28%.

Insider Buying and Selling at Simulations Plus

In other news, Director Walter S. Woltosz sold 18,945 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.02, for a total value of $720,288.90. Following the sale, the director now directly owns 3,641,250 shares in the company, valued at $138,440,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $39.94, for a total value of $798,800.00. Following the sale, the director now directly owns 3,600,195 shares in the company, valued at $143,791,788.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter S. Woltosz sold 18,945 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.02, for a total transaction of $720,288.90. Following the sale, the director now owns 3,641,250 shares in the company, valued at approximately $138,440,325. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Simulations Plus

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC raised its stake in Simulations Plus by 2,626.1% during the second quarter. Barclays PLC now owns 627 shares of the technology company’s stock worth $27,000 after purchasing an additional 604 shares during the period. Point72 Middle East FZE acquired a new position in Simulations Plus during the 4th quarter worth $35,000. Lazard Asset Management LLC acquired a new position in Simulations Plus during the 4th quarter worth $61,000. Tower Research Capital LLC TRC grew its holdings in Simulations Plus by 82.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,421 shares of the technology company’s stock worth $69,000 after acquiring an additional 641 shares in the last quarter. Finally, State of Wyoming grew its holdings in Simulations Plus by 63.1% during the 4th quarter. State of Wyoming now owns 2,332 shares of the technology company’s stock worth $85,000 after acquiring an additional 902 shares in the last quarter. Institutional investors and hedge funds own 78.08% of the company’s stock.

Analyst Ratings Changes

Separately, Craig Hallum lifted their price objective on Simulations Plus from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, January 4th.

Simulations Plus Company 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.