Comerica Bank Has $4.76 Million Stock Position in Simulations Plus, Inc. $SLP

Key Points

• Comerica Bank has increased its holdings in Simulations Plus, Inc. by 16.6%, owning 193,990 shares valued at approximately $4.75 million.
• Simulations Plus reported earnings of $0.45 per share, surpassing analyst expectations of $0.26, but its revenue was below estimates at $20.36 million.
• Several hedge funds have also boosted their investments in Simulations Plus, resulting in institutional ownership of 78.08% of the company's stock.

Comerica Bank increased its position in Simulations Plus, Inc. (NASDAQ:SLP - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 193,990 shares of the technology company's stock after buying an additional 27,579 shares during the quarter. Comerica Bank owned about 0.96% of Simulations Plus worth $4,757,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SLP. Barclays PLC lifted its holdings in shares of Simulations Plus by 2.7% in the fourth quarter. Barclays PLC now owns 29,229 shares of the technology company's stock valued at $815,000 after buying an additional 756 shares during the period. First Trust Advisors LP lifted its holdings in shares of Simulations Plus by 47.3% in the fourth quarter. First Trust Advisors LP now owns 9,393 shares of the technology company's stock valued at $262,000 after buying an additional 3,015 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Simulations Plus by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 419,241 shares of the technology company's stock valued at $11,693,000 after buying an additional 24,266 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Simulations Plus by 42.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,575 shares of the technology company's stock valued at $72,000 after buying an additional 764 shares during the period. Finally, State of Tennessee Department of Treasury lifted its holdings in shares of Simulations Plus by 21.0% in the fourth quarter. State of Tennessee Department of Treasury now owns 11,813 shares of the technology company's stock valued at $329,000 after buying an additional 2,052 shares during the period. Institutional investors and hedge funds own 78.08% of the company's stock.

Wall Street Analysts Forecast Growth

SLP has been the subject of several research analyst reports. Craig Hallum cut their price objective on Simulations Plus from $45.00 to $36.00 and set a "buy" rating for the company in a report on Friday, June 13th. Zacks Research raised Simulations Plus to a "hold" rating in a report on Tuesday, August 12th. KeyCorp downgraded Simulations Plus from an "overweight" rating to a "sector weight" rating in a report on Tuesday, July 15th. William Blair reaffirmed an "outperform" rating on shares of Simulations Plus in a report on Tuesday, July 15th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Simulations Plus in a report on Wednesday, June 18th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Simulations Plus has a consensus rating of "Moderate Buy" and a consensus price target of $26.50.

Simulations Plus Stock Performance

NASDAQ:SLP traded down $0.03 during trading hours on Wednesday, hitting $14.36. 138,463 shares of the company's stock traded hands, compared to its average volume of 429,082. The firm has a market cap of $289.07 million, a P/E ratio of -4.56 and a beta of 0.85. Simulations Plus, Inc. has a twelve month low of $12.39 and a twelve month high of $37.67. The stock's fifty day moving average price is $14.72 and its two-hundred day moving average price is $23.70.

Simulations Plus (NASDAQ:SLP - Get Free Report) last posted its quarterly earnings results on Monday, July 14th. The technology company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.19. The firm had revenue of $20.36 million for the quarter, compared to analyst estimates of $22.83 million. Simulations Plus had a positive return on equity of 11.62% and a negative net margin of 78.63%.Simulations Plus's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 earnings per share. On average, equities research analysts predict that Simulations Plus, Inc. will post 1.09 earnings per share for the current year.

Simulations Plus Company Profile

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.