Bank of New York Mellon Corp Sells 547,327 Shares of Certara, Inc. (NASDAQ:CERT)

Bank of New York Mellon Corp lowered its position in Certara, Inc. (NASDAQ:CERT - Free Report) by 27.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,447,744 shares of the company's stock after selling 547,327 shares during the quarter. Bank of New York Mellon Corp owned 0.90% of Certara worth $14,333,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in Certara by 218.8% during the first quarter. Versant Capital Management Inc now owns 2,719 shares of the company's stock valued at $27,000 after purchasing an additional 1,866 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Certara by 48.4% in the 4th quarter. Wells Fargo & Company MN now owns 3,208 shares of the company's stock worth $34,000 after acquiring an additional 1,047 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Certara in the 4th quarter worth approximately $47,000. Sterling Capital Management LLC boosted its holdings in shares of Certara by 57.2% in the 4th quarter. Sterling Capital Management LLC now owns 7,209 shares of the company's stock worth $77,000 after acquiring an additional 2,624 shares in the last quarter. Finally, Portside Wealth Group LLC acquired a new position in shares of Certara in the 1st quarter worth approximately $104,000. Institutional investors own 73.96% of the company's stock.

Certara Stock Performance

Certara stock traded up $0.18 during midday trading on Wednesday, reaching $10.80. 1,040,796 shares of the company's stock were exchanged, compared to its average volume of 1,507,449. Certara, Inc. has a 52 week low of $8.64 and a 52 week high of $16.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 2.78. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -540.00 and a beta of 1.43. The stock's 50-day simple moving average is $11.20 and its 200 day simple moving average is $11.85.

Certara (NASDAQ:CERT - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. Certara had a negative net margin of 0.67% and a positive return on equity of 5.05%. The company had revenue of $106.00 million during the quarter, compared to the consensus estimate of $104.44 million. During the same period in the previous year, the business earned $0.10 earnings per share. The firm's quarterly revenue was up 9.7% on a year-over-year basis. On average, analysts expect that Certara, Inc. will post 0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on CERT. JMP Securities reissued a "market perform" rating on shares of Certara in a report on Tuesday, May 6th. Barclays raised Certara from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $11.00 to $14.00 in a research note on Thursday, May 8th. Morgan Stanley initiated coverage on Certara in a research note on Thursday, July 3rd. They issued an "equal weight" rating and a $16.00 price target on the stock. Robert W. Baird increased their price target on Certara from $9.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Finally, KeyCorp lowered their price objective on shares of Certara from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.29.

Certara Company 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.