Simulations Plus (NASDAQ:SLP) Downgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research downgraded shares of Simulations Plus (NASDAQ:SLP) from a buy rating to a hold rating in a report released on Wednesday, September 19th.

According to Zacks, “Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery and development simulation software, which is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies worldwide. They have two other businesses, Words+, Inc. and FutureLab, which are based on its proprietary software technologies. “

Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Simulations Plus from a strong-buy rating to a buy rating in a report on Friday, July 13th. ValuEngine downgraded shares of Simulations Plus from a strong-buy rating to a buy rating in a report on Wednesday, July 11th.

Shares of NASDAQ:SLP traded up $0.31 during trading on Wednesday, reaching $19.92. The company’s stock had a trading volume of 55,097 shares, compared to its average volume of 64,211. Simulations Plus has a 12 month low of $14.25 and a 12 month high of $23.95. The company has a market cap of $350.77 million, a price-to-earnings ratio of 58.59 and a beta of -0.80.

Simulations Plus (NASDAQ:SLP) last announced its quarterly earnings results on Tuesday, July 10th. The technology company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Simulations Plus had a net margin of 29.88% and a return on equity of 25.65%. The firm had revenue of $8.55 million during the quarter, compared to the consensus estimate of $7.86 million. As a group, equities research analysts predict that Simulations Plus will post 0.4 earnings per share for the current fiscal year.

In related news, Chairman Walter S. Woltosz sold 18,500 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $20.33, for a total value of $376,105.00. Following the sale, the chairman now directly owns 5,436,408 shares of the company’s stock, valued at approximately $110,522,174.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 55,500 shares of company stock worth $1,073,185 over the last three months. 33.45% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of SLP. BlackRock Inc. raised its position in Simulations Plus by 12.4% in the 2nd quarter. BlackRock Inc. now owns 846,454 shares of the technology company’s stock worth $18,833,000 after purchasing an additional 93,438 shares during the period. Municipal Employees Retirement System of Michigan purchased a new stake in Simulations Plus in the 1st quarter worth about $990,000. Millennium Management LLC purchased a new stake in Simulations Plus in the 1st quarter worth about $752,000. Russell Investments Group Ltd. raised its position in Simulations Plus by 105.3% in the 1st quarter. Russell Investments Group Ltd. now owns 81,342 shares of the technology company’s stock worth $1,200,000 after purchasing an additional 41,728 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Simulations Plus by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 475,216 shares of the technology company’s stock worth $7,009,000 after purchasing an additional 37,811 shares during the period. 35.70% of the stock is currently owned by institutional investors.

About Simulations Plus

Simulations Plus, Inc develops drug discovery and development software for mechanistic modeling and simulation worldwide. The company offers GastroPlus, which simulates the absorption, pharmacokinetics (PK), and pharmacodynamics of drugs administered to humans and animals; DDDPlus that simulates in vitro laboratory experiments, which measure the rate of dissolution of the drug and additives in a dosage form; and MembranePlus, which simulates laboratory experiments.

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