Massachusetts Financial Services Co. MA Cuts Position in Certara, Inc. (NASDAQ:CERT)

Massachusetts Financial Services Co. MA reduced its holdings in Certara, Inc. (NASDAQ:CERT - Free Report) by 55.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,815,345 shares of the company's stock after selling 2,268,595 shares during the period. Massachusetts Financial Services Co. MA owned about 1.12% of Certara worth $17,972,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System increased its holdings in shares of Certara by 12.9% during the 1st quarter. Arizona State Retirement System now owns 36,895 shares of the company's stock valued at $365,000 after acquiring an additional 4,210 shares during the last quarter. Brown Advisory Inc. acquired a new stake in Certara during the 1st quarter valued at $238,000. Envestnet Asset Management Inc. raised its position in shares of Certara by 23.5% during the first quarter. Envestnet Asset Management Inc. now owns 511,235 shares of the company's stock worth $5,061,000 after acquiring an additional 97,179 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Certara by 2.4% during the first quarter. Principal Financial Group Inc. now owns 543,958 shares of the company's stock worth $5,385,000 after acquiring an additional 12,513 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Certara by 3.9% during the first quarter. Illinois Municipal Retirement Fund now owns 59,721 shares of the company's stock worth $591,000 after purchasing an additional 2,268 shares during the period. 73.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Certara Stock Down 4.2%

Certara stock traded down $0.44 during midday trading on Friday, reaching $10.10. The stock had a trading volume of 1,216,002 shares, compared to its average volume of 1,500,700. Certara, Inc. has a 12 month low of $8.64 and a 12 month high of $16.61. The company has a market capitalization of $1.64 billion, a P/E ratio of -505.00 and a beta of 1.43. The company has a fifty day moving average price of $11.29 and a two-hundred day moving average price of $11.87. The company has a current ratio of 2.78, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27.

Certara (NASDAQ:CERT - Get Free Report) last released its quarterly earnings results 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 business had revenue of $106.00 million during the quarter, compared to the consensus estimate of $104.44 million. Certara had a positive return on equity of 5.05% and a negative net margin of 0.67%. The company's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. As a group, equities analysts expect that Certara, Inc. will post 0.28 EPS for the current fiscal year.

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.