Bank of America Corp DE Sells 567,535 Shares of Certara, Inc. (NASDAQ:CERT)

Bank of America Corp DE reduced its holdings in Certara, Inc. (NASDAQ:CERT - Free Report) by 46.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 660,799 shares of the company's stock after selling 567,535 shares during the period. Bank of America Corp DE owned about 0.41% of Certara worth $7,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Certara by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 12,437,089 shares of the company's stock valued at $132,455,000 after buying an additional 38,068 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its position in Certara by 164.2% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 6,213,278 shares of the company's stock valued at $66,171,000 after purchasing an additional 3,861,674 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Certara by 13.9% during the fourth quarter. Teacher Retirement System of Texas now owns 4,557,951 shares of the company's stock worth $48,542,000 after acquiring an additional 557,348 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Certara by 4.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,083,940 shares of the company's stock worth $43,494,000 after acquiring an additional 182,042 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Certara by 63.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 3,818,613 shares of the company's stock worth $40,668,000 after purchasing an additional 1,487,998 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

Certara Price Performance

Shares of CERT stock traded up $0.04 on Friday, reaching $11.44. The company's stock had a trading volume of 51,667 shares, compared to its average volume of 1,331,460. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 0.28. Certara, Inc. has a 12-month low of $8.64 and a 12-month high of $17.76. The company has a market capitalization of $1.86 billion, a P/E ratio of -57.30, a PEG ratio of 9.29 and a beta of 1.57. The stock's 50 day simple moving average is $11.84 and its 200-day simple moving average is $11.78.

Certara (NASDAQ:CERT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. The firm had revenue of $106.00 million for the quarter, compared to analysts' expectations of $104.44 million. Certara had a positive return on equity of 3.43% and a negative net margin of 8.34%. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. As a group, equities analysts predict that Certara, Inc. will post 0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stephens reiterated an "overweight" rating and set a $17.00 price objective on shares of Certara in a report on Thursday, February 27th. JMP Securities reissued a "market perform" rating on shares of Certara in a report on Tuesday, May 6th. Robert W. Baird lifted their price target on Certara from $9.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Barclays upgraded Certara from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $11.00 to $14.00 in a research note on Thursday, May 8th. Finally, TD Cowen began coverage on Certara in a research note on Thursday, February 27th. They issued a "buy" rating and a $16.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $15.67.

Certara Profile

Certara, Inc, together with its subsidiaries, provides software products and technology-enabled services to customers for biosimulation in drug discovery, preclinical and clinical research, regulatory submissions, and market access in the United States and internationally. It offers solutions for model-informed drug development, as well as biosimulation solution used to predict both pharmacokinetics and pharmacodynamics.