Simulations Plus (NASDAQ:SLP) Issues FY 2024 Earnings Guidance

Simulations Plus (NASDAQ:SLP) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.660-0.680 for the period, compared to the consensus estimate of 0.660. The company issued revenue guidance of $66.0 million-$69.0 million, compared to the consensus revenue estimate of $67.2 million. Simulations Plus also updated its FY24 guidance to $0.66-0.68 EPS.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum upped their price target on shares of Simulations Plus from $50.00 to $51.00 and gave the stock a buy rating in a research report on Thursday, January 4th.

Simulations Plus Trading Down 0.4 %

SLP traded down $0.14 during midday trading on Wednesday, hitting $38.46. 210,565 shares of the company were exchanged, compared to its average volume of 100,676. The company’s 50 day simple moving average is $41.33 and its 200 day simple moving average is $40.39. The firm has a market capitalization of $768.05 million, a price-to-earnings ratio of 72.57 and a beta of 0.72. Simulations Plus has a 1-year low of $32.69 and a 1-year high of $52.69.

Simulations Plus (NASDAQ:SLP) last issued its quarterly earnings results on Wednesday, January 3rd. The technology company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $14.50 million for the quarter, compared to analyst estimates of $13.94 million. Simulations Plus had a net margin of 17.12% and a return on equity of 8.18%. Simulations Plus’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the company posted $0.06 EPS. On average, equities analysts anticipate that Simulations Plus will post 0.67 EPS for the current year.

Insiders Place Their Bets

In other Simulations Plus news, Director John Kenneth Paglia sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $43.74, for a total value of $43,740.00. Following the transaction, the director now directly owns 2,097 shares of the company’s stock, valued at approximately $91,722.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus 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 completion of the sale, the director now owns 3,600,195 shares in the company, valued at approximately $143,791,788.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Kenneth Paglia sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $43.74, for a total transaction of $43,740.00. Following the completion of the transaction, the director now directly owns 2,097 shares of the company’s stock, valued at approximately $91,722.78. The disclosure for this sale can be found here. Insiders have sold 39,945 shares of company stock valued at $1,562,829 in the last ninety days. 20.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Simulations Plus

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Simulations Plus by 407.0% in the first quarter. JPMorgan Chase & Co. now owns 51,431 shares of the technology company’s stock valued at $2,622,000 after acquiring an additional 41,286 shares during the last quarter. US Bancorp DE lifted its position in Simulations Plus by 233.4% in the first quarter. US Bancorp DE now owns 4,171 shares of the technology company’s stock valued at $212,000 after acquiring an additional 2,920 shares during the last quarter. Citigroup Inc. increased its stake in Simulations Plus by 15.0% in the first quarter. Citigroup Inc. now owns 13,821 shares of the technology company’s stock valued at $705,000 after purchasing an additional 1,805 shares during the period. PNC Financial Services Group Inc. increased its stake in Simulations Plus by 12.6% in the first quarter. PNC Financial Services Group Inc. now owns 10,851 shares of the technology company’s stock valued at $552,000 after purchasing an additional 1,212 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Simulations Plus by 56.6% in the first quarter. MetLife Investment Management LLC now owns 8,535 shares of the technology company’s stock valued at $435,000 after purchasing an additional 3,084 shares during the period. 78.08% of the stock is owned by hedge funds and other institutional investors.

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.