Simulations Plus (NASDAQ:SLP) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Simulations Plus (NASDAQ:SLP) released its quarterly earnings data on Wednesday. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02, Briefing.com reports. The company had revenue of $18.31 million during the quarter, compared to analyst estimates of $17.31 million. Simulations Plus had a net margin of 17.12% and a return on equity of 8.18%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the business 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 Price Performance

Shares of NASDAQ SLP traded up $9.89 during mid-day trading on Thursday, hitting $48.35. The company’s stock had a trading volume of 327,810 shares, compared to its average volume of 103,445. The stock has a market cap of $965.55 million, a price-to-earnings ratio of 90.61 and a beta of 0.72. Simulations Plus has a one year low of $32.69 and a one year high of $52.69. The company’s fifty day simple moving average is $41.31 and its 200-day simple moving average is $40.38.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of Simulations Plus by 2,626.1% during the second quarter. Barclays PLC now owns 627 shares of the technology company’s stock worth $27,000 after purchasing an additional 604 shares during the last quarter. Point72 Middle East FZE bought a new stake in shares of Simulations Plus during the fourth quarter worth about $35,000. Lazard Asset Management LLC bought a new stake in shares of Simulations Plus during the fourth quarter worth about $61,000. Tower Research Capital LLC TRC grew its holdings in shares of Simulations Plus by 82.2% during the third quarter. Tower Research Capital LLC TRC now owns 1,421 shares of the technology company’s stock worth $69,000 after purchasing an additional 641 shares during the last quarter. Finally, State of Wyoming grew its holdings in shares of Simulations Plus by 63.1% during the fourth quarter. State of Wyoming now owns 2,332 shares of the technology company’s stock worth $85,000 after purchasing an additional 902 shares during the last quarter. Institutional investors and hedge funds own 78.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Craig Hallum raised their price target on shares of Simulations Plus from $50.00 to $51.00 and gave the stock a “buy” rating in a research 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.