Simulations Plus (NASDAQ:SLP) Releases 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 for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02, Briefing.com reports. Simulations Plus had a return on equity of 8.02% and a net margin of 16.22%. The company had revenue of $18.31 million during the quarter, compared to the consensus estimate of $17.31 million. During the same quarter in the previous year, the company posted $0.20 EPS. Simulations Plus’s quarterly revenue was up 16.2% compared to the same quarter last year. 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 Stock Performance

Shares of NASDAQ SLP opened at $47.54 on Friday. The company has a 50 day simple moving average of $41.48 and a two-hundred day simple moving average of $40.43. Simulations Plus has a fifty-two week low of $32.69 and a fifty-two week high of $52.69. The company has a market capitalization of $949.37 million, a price-to-earnings ratio of 89.70 and a beta of 0.72.

Simulations Plus Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Friday, April 26th. Simulations Plus’s payout ratio is currently 45.28%.

Insider Transactions at Simulations Plus

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $39.94, for a total transaction of $798,800.00. Following the sale, the director now directly owns 3,600,195 shares in the company, valued at approximately $143,791,788.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is available at the SEC website. Also, Director Walter S. Woltosz sold 18,945 shares of the stock in a transaction 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 transaction, the director now directly owns 3,641,250 shares in the company, valued at $138,440,325. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Simulations Plus

A number of institutional investors and hedge funds have recently made changes to their positions in SLP. Barclays PLC grew its holdings in Simulations Plus by 2,626.1% during the second quarter. Barclays PLC now owns 627 shares of the technology company’s stock valued at $27,000 after purchasing an additional 604 shares during the period. Point72 Middle East FZE bought a new stake in Simulations Plus during the 4th quarter worth approximately $35,000. Tower Research Capital LLC TRC lifted its holdings in 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 valued at $69,000 after purchasing an additional 641 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Simulations Plus in the fourth quarter worth $61,000. Finally, State of Wyoming raised its position in shares of Simulations Plus by 160.4% during the 2nd quarter. State of Wyoming now owns 1,984 shares of the technology company’s stock valued at $86,000 after purchasing an additional 1,222 shares during the period. Hedge funds and other institutional investors own 78.08% of the company’s stock.

Wall Street Analyst Weigh In

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

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.