Bank of New York Mellon Corp Takes $1.25 Million Position in Simulations Plus, Inc. $SLP

Key Points

• Bank of New York Mellon purchased 68,095 shares of Simulations Plus worth approximately $1.25 million, while institutional investors collectively own 78.08% of the company.
• Analyst sentiment has weakened: several firms downgraded the stock to “hold” or “market perform.” Seven analysts rate Simulations Plus as a Hold and one as Sell, with an average target price of $17.25.
• Simulations Plus exceeded quarterly expectations, reporting $0.30 in EPS versus the $0.23 consensus and revenue of $21.89 million versus $20.90 million expected. Shares opened at $18.42, with a market capitalization of about $372.6 million.

Bank of New York Mellon Corp purchased a new stake in shares of Simulations Plus, Inc. (NASDAQ:SLP - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 68,095 shares of the technology company's stock, valued at approximately $1,247,000. Bank of New York Mellon Corp owned about 0.34% of Simulations Plus at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SLP. Raymond James Financial Inc. bought a new position in Simulations Plus during the second quarter valued at about $25,000. Quarry LP bought a new stake in Simulations Plus in the third quarter worth about $28,000. GAMMA Investing LLC grew its position in shares of Simulations Plus by 26.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,831 shares of the technology company's stock valued at $52,000 after acquiring an additional 585 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Simulations Plus by 59.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,485 shares of the technology company's stock valued at $53,000 after acquiring an additional 1,669 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in shares of Simulations Plus during the 1st quarter worth approximately $54,000. Hedge funds and other institutional investors own 78.08% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen lowered Simulations Plus from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Weiss Ratings upgraded Simulations Plus from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, July 10th. William Blair lowered Simulations Plus from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 17th. Finally, Craig Hallum cut Simulations Plus from a "buy" rating to a "hold" rating and set a $18.50 price objective on the stock. in a research note on Thursday, June 18th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Simulations Plus has an average rating of "Reduce" and an average target price of $17.25.

Simulations Plus Price Performance

NASDAQ:SLP opened at $18.42 on Thursday. The stock has a market cap of $372.64 million, a P/E ratio of 46.05 and a beta of 1.33. The business's 50-day moving average price is $18.34 and its two-hundred day moving average price is $15.76. Simulations Plus, Inc. has a twelve month low of $11.09 and a twelve month high of $21.01.

Simulations Plus (NASDAQ:SLP - Get Free Report) last posted its quarterly earnings data on Thursday, July 9th. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. Simulations Plus had a net margin of 9.88% and a return on equity of 13.50%. The company had revenue of $21.89 million for the quarter, compared to analysts' expectations of $20.90 million.

Insider Activity

In other news, Director Walter Woltosz sold 4,177 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $18.44, for a total transaction of $77,023.88. Following the transaction, the director directly owned 3,202,131 shares in the company, valued at approximately $59,047,295.64. This represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 19.10% of the company's stock.

Simulations Plus Company Profile

Simulations Plus, Inc NASDAQ: SLP specializes in advanced modeling and simulation software tailored to the pharmaceutical, biotechnology and chemical industries. The company's flagship products include ADMET Predictor, a quantitative structure-activity relationship (QSAR) tool for predicting absorption, distribution, metabolism, excretion and toxicity properties, and GastroPlus, a physiologically based pharmacokinetic (PBPK) modeling platform for simulating drug absorption and pharmacokinetics.

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