Simulations Plus (NASDAQ:SLP) Announces Earnings Results, Beats Estimates By $0.02 EPS

Simulations Plus (NASDAQ:SLP) released its earnings results on Wednesday. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02, Briefing.com reports. The firm had revenue of $18.31 million for the quarter, compared to analyst estimates of $17.31 million. Simulations Plus had a return on equity of 8.02% and a net margin of 16.22%. Simulations Plus’s revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 earnings per share. Simulations Plus updated its FY24 guidance to $0.66-0.68 EPS and its FY 2024 guidance to 0.660-0.680 EPS.

Simulations Plus Trading Down 0.1 %

NASDAQ:SLP traded down $0.03 on Friday, hitting $47.51. 65,849 shares of the company’s stock traded hands, compared to its average volume of 108,038. Simulations Plus has a 1 year low of $32.69 and a 1 year high of $52.69. The firm has a 50-day moving average price of $41.48 and a 200-day moving average price of $40.43. The company has a market cap of $948.77 million, a PE ratio of 89.70 and a beta of 0.72.

Simulations Plus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.24 annualized dividend and a yield of 0.51%. Simulations Plus’s dividend payout ratio (DPR) is presently 45.28%.

Insider Buying and Selling at Simulations Plus

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $39.94, for a total transaction of $798,800.00. Following the transaction, the director now owns 3,600,195 shares of the company’s stock, valued at approximately $143,791,788.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Walter S. Woltosz sold 18,945 shares of Simulations Plus stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.02, for a total transaction of $720,288.90. Following the completion of the sale, the director now directly owns 3,641,250 shares in the company, valued at approximately $138,440,325. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $39.94, for a total value of $798,800.00. Following the sale, the director now owns 3,600,195 shares of the company’s stock, valued at $143,791,788.30. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Simulations Plus

Institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in Simulations Plus by 64.1% in the 1st quarter. Ameriprise Financial Inc. now owns 335,827 shares of the technology company’s stock worth $14,756,000 after purchasing an additional 131,130 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Simulations Plus by 98.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 159,768 shares of the technology company’s stock worth $8,144,000 after buying an additional 79,452 shares during the period. Marshall Wace LLP increased its position in Simulations Plus by 87.8% in the 2nd quarter. Marshall Wace LLP now owns 120,981 shares of the technology company’s stock worth $5,242,000 after buying an additional 56,561 shares during the period. FMR LLC increased its position in Simulations Plus by 17.6% in the 2nd quarter. FMR LLC now owns 322,982 shares of the technology company’s stock worth $15,933,000 after buying an additional 48,305 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Simulations Plus by 407.0% in the 1st quarter. JPMorgan Chase & Co. now owns 51,431 shares of the technology company’s stock worth $2,622,000 after buying an additional 41,286 shares during the period. 78.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Simulations Plus Company Profile

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.