Azzad Asset Management Inc. ADV Makes New $436,000 Investment in Simulations Plus, Inc. (NASDAQ:SLP)

Azzad Asset Management Inc. ADV bought a new position in Simulations Plus, Inc. (NASDAQ:SLP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,785 shares of the technology company's stock, valued at approximately $436,000. Azzad Asset Management Inc. ADV owned approximately 0.09% of Simulations Plus at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLP. Jones Financial Companies Lllp boosted its position in shares of Simulations Plus by 53.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,223 shares of the technology company's stock valued at $34,000 after acquiring an additional 427 shares during the last quarter. Fifth Third Bancorp lifted its position in Simulations Plus by 33.8% during the first quarter. Fifth Third Bancorp now owns 1,485 shares of the technology company's stock valued at $36,000 after purchasing an additional 375 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Simulations Plus in the 4th quarter worth $39,000. Tower Research Capital LLC TRC increased its holdings in shares of Simulations Plus by 42.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the technology company's stock worth $72,000 after buying an additional 764 shares during the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Simulations Plus by 502.9% in the 4th quarter. AlphaQuest LLC now owns 2,689 shares of the technology company's stock worth $75,000 after buying an additional 2,243 shares during the last quarter. 78.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JMP Securities restated a "market perform" rating on shares of Simulations Plus in a research report on Wednesday. Wall Street Zen upgraded Simulations Plus from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. William Blair reaffirmed an "outperform" rating on shares of Simulations Plus in a research note on Tuesday, June 3rd. KeyCorp lifted their target price on Simulations Plus from $32.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Finally, Craig Hallum reduced their price target on Simulations Plus from $45.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Simulations Plus currently has an average rating of "Moderate Buy" and a consensus target price of $41.25.

Simulations Plus Price Performance

SLP traded down $0.24 during trading on Thursday, reaching $18.08. 492,219 shares of the company's stock were exchanged, compared to its average volume of 243,379. Simulations Plus, Inc. has a 1 year low of $17.97 and a 1 year high of $49.71. The stock has a market capitalization of $363.59 million, a P/E ratio of 51.66 and a beta of 0.97. The company's fifty day simple moving average is $30.24 and its 200-day simple moving average is $29.86.

Simulations Plus (NASDAQ:SLP - Get Free Report) last announced its quarterly earnings results on Thursday, April 3rd. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.06. Simulations Plus had a net margin of 9.18% and a return on equity of 7.86%. The firm had revenue of $22.43 million for the quarter, compared to the consensus estimate of $21.93 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The firm's quarterly revenue was up 22.5% compared to the same quarter last year. Equities analysts forecast that Simulations Plus, Inc. will post 1.09 EPS for the current year.

Insider Activity

In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $33.51, for a total value of $670,200.00. Following the transaction, the director now owns 3,344,157 shares in the company, valued at approximately $112,062,701.07. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 19.40% of the company's stock.

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.