KeyCorp Cuts Simulations Plus (NASDAQ:SLP) Price Target to $35.00

Simulations Plus (NASDAQ:SLP) had its price target lowered by KeyCorp from $40.00 to $35.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

SLP has been the topic of a number of other research reports. Stephens assumed coverage on Simulations Plus in a report on Friday, November 15th. They set an “overweight” rating and a $39.00 price objective on the stock. StockNews.com downgraded shares of Simulations Plus from a “hold” rating to a “sell” rating in a report on Monday, November 4th. BTIG Research reduced their price objective on shares of Simulations Plus from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, William Blair reiterated an “outperform” rating on shares of Simulations Plus in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Simulations Plus presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

Simulations Plus Stock Up 0.1 %

NASDAQ SLP opened at $28.25 on Wednesday. The company has a market cap of $567.40 million, a PE ratio of 57.65 and a beta of 0.80. Simulations Plus has a 52 week low of $24.00 and a 52 week high of $51.22. The firm’s 50-day simple moving average is $29.82 and its two-hundred day simple moving average is $33.82.

Simulations Plus (NASDAQ:SLP) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. Simulations Plus had a net margin of 14.15% and a return on equity of 6.16%. The company had revenue of $18.70 million during the quarter, compared to the consensus estimate of $19.73 million. During the same period last year, the firm earned $0.18 EPS. Simulations Plus’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, equities research analysts anticipate that Simulations Plus will post 1.1 EPS for the current year.

Insider Activity at Simulations Plus

In related news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $31.76, for a total value of $635,200.00. Following the transaction, the director now owns 3,442,584 shares in the company, valued at $109,336,467.84. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SLP. JPMorgan Chase & Co. grew its position in Simulations Plus by 106.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 47,365 shares of the technology company’s stock worth $1,517,000 after acquiring an additional 24,371 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Simulations Plus by 2.6% during the third quarter. Principal Financial Group Inc. now owns 87,273 shares of the technology company’s stock valued at $2,794,000 after purchasing an additional 2,226 shares during the period. Franklin Resources Inc. grew its holdings in shares of Simulations Plus by 7.6% in the third quarter. Franklin Resources Inc. now owns 10,797 shares of the technology company’s stock worth $342,000 after purchasing an additional 766 shares during the last quarter. Barclays PLC increased its stake in shares of Simulations Plus by 390.6% in the third quarter. Barclays PLC now owns 28,473 shares of the technology company’s stock worth $911,000 after buying an additional 22,669 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Simulations Plus by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 448,618 shares of the technology company’s stock valued at $14,367,000 after buying an additional 18,924 shares during the last quarter. Hedge funds and other institutional investors own 78.08% of the company’s stock.

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.