BidaskClub downgraded shares of Simulations Plus, Inc. (NASDAQ:SLP) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
Separately, Zacks Investment Research raised Simulations Plus from a hold rating to a buy rating and set a $17.00 target price for the company in a research report on Tuesday, July 25th.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 13th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 10th. This is a boost from Simulations Plus’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.47%. Simulations Plus’s payout ratio is 62.50%.
In other Simulations Plus news, insider Walter S. Woltosz sold 18,500 shares of Simulations Plus stock in a transaction dated Saturday, October 28th. The stock was sold at an average price of $16.37, for a total transaction of $302,845.00. Following the completion of the sale, the insider now owns 5,629,416 shares of the company’s stock, valued at $92,153,539.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 36.93% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLP. The Manufacturers Life Insurance Company lifted its stake in shares of Simulations Plus by 13.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,923 shares of the technology company’s stock valued at $110,000 after acquiring an additional 1,085 shares during the last quarter. Rhumbline Advisers bought a new position in Simulations Plus during the 2nd quarter valued at approximately $126,000. OxFORD Asset Management LLP bought a new position in Simulations Plus during the 2nd quarter valued at approximately $126,000. New York State Common Retirement Fund bought a new position in Simulations Plus during the 2nd quarter valued at approximately $143,000. Finally, KCG Holdings Inc. bought a new position in Simulations Plus during the 1st quarter valued at approximately $152,000. 32.13% of the stock is owned by institutional investors.
About Simulations Plus
Simulations Plus, Inc (Simulations Plus) develops and produces software for use in pharmaceutical research and for education, and provides consulting and contract research services to the pharmaceutical industry. The Company offers five software products for pharmaceutical research. ADMET (Absorption, Distribution, Metabolism, Excretion and Toxicity) Predictor is a computer program that takes molecular structures as inputs and predicts over 140 different properties for them at the rate of about 200,000 compounds per hour.
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