Deerfield Management Company L.P. Series C Invests $811,000 in Simulations Plus, Inc. (NASDAQ:SLP)

Deerfield Management Company L.P. Series C purchased a new stake in shares of Simulations Plus, Inc. (NASDAQ:SLP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 16,674 shares of the technology company’s stock, valued at approximately $811,000. Deerfield Management Company L.P. Series C owned about 0.08% of Simulations Plus at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Simulations Plus in the 1st quarter valued at about $57,000. Allspring Global Investments Holdings LLC purchased a new position in Simulations Plus in the first quarter worth approximately $70,000. Connecticut Wealth Management LLC acquired a new stake in Simulations Plus during the first quarter worth $204,000. Los Angeles Capital Management LLC purchased a new stake in Simulations Plus in the second quarter valued at $206,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Simulations Plus in the 1st quarter valued at $208,000. Hedge funds and other institutional investors own 78.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SLP shares. KeyCorp began coverage on Simulations Plus in a research report on Monday, July 29th. They set an “overweight” rating and a $47.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Simulations Plus in a research note on Thursday, September 12th. JMP Securities assumed coverage on shares of Simulations Plus in a report on Tuesday, July 16th. They issued a “market perform” rating on the stock. Craig Hallum reiterated a “buy” rating and issued a $56.00 target price on shares of Simulations Plus in a report on Wednesday, July 3rd. Finally, Oppenheimer boosted their target price on Simulations Plus from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Simulations Plus has an average rating of “Moderate Buy” and an average price target of $56.00.

Simulations Plus Stock Performance

NASDAQ SLP opened at $31.07 on Friday. The firm has a market cap of $621.65 million, a price-to-earnings ratio of 64.73 and a beta of 0.70. The firm has a 50 day simple moving average of $35.88 and a 200-day simple moving average of $42.26. Simulations Plus, Inc. has a one year low of $30.22 and a one year high of $51.22.

Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings data on Tuesday, July 2nd. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $18.54 million for the quarter, compared to analyst estimates of $17.92 million. Simulations Plus had a return on equity of 7.80% and a net margin of 14.36%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. Equities analysts predict that Simulations Plus, Inc. will post 0.51 EPS for the current fiscal year.

Simulations Plus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Monday, July 29th. Simulations Plus’s payout ratio is presently 50.00%.

Insider Transactions at Simulations Plus

In related news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $39.63, for a total value of $792,600.00. Following the sale, the director now owns 3,521,592 shares of the company’s stock, valued at $139,560,690.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 60,000 shares of company stock valued at $2,430,400. 20.90% of the stock is currently owned by corporate insiders.

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.