Conestoga Capital Advisors LLC Sells 1,327,245 Shares of Simulations Plus, Inc. $SLP

Key Points

• Conestoga Capital Advisors LLC reduced its stake in Simulations Plus, Inc. by 50.9%, selling 1,327,245 shares during the 2nd quarter, leaving it with approximately 1.28 million shares valued at $22.37 million.
• Simulations Plus, Inc.'s stock is currently experiencing a decline, with a trading price of $15.40 on Monday, significantly lower than its 12-month high of $37.67.
• Analysts have mixed ratings on Simulations Plus, with a consensus rating of "Hold" and a price target of $24.40, following recent downgrades from brokerages like KeyCorp.

Conestoga Capital Advisors LLC cut its position in shares of Simulations Plus, Inc. (NASDAQ:SLP - Free Report) by 50.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,282,143 shares of the technology company's stock after selling 1,327,245 shares during the quarter. Conestoga Capital Advisors LLC owned about 6.37% of Simulations Plus worth $22,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in Simulations Plus during the first quarter valued at $2,458,000. Uniplan Investment Counsel Inc. grew its position in shares of Simulations Plus by 141.8% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 144,202 shares of the technology company's stock worth $3,536,000 after buying an additional 84,562 shares during the period. Stephens Inc. AR increased its stake in shares of Simulations Plus by 191.1% in the 1st quarter. Stephens Inc. AR now owns 94,439 shares of the technology company's stock worth $2,316,000 after acquiring an additional 61,992 shares in the last quarter. NFJ Investment Group LLC purchased a new position in Simulations Plus during the 1st quarter valued at about $1,254,000. Finally, Nuveen LLC bought a new stake in Simulations Plus during the first quarter worth about $1,154,000. 78.08% of the stock is owned by hedge funds and other institutional investors.

Simulations Plus Trading Down 3.9%

SLP stock opened at $15.40 on Monday. The stock's 50 day simple moving average is $14.82 and its 200 day simple moving average is $20.75. Simulations Plus, Inc. has a 12-month low of $12.39 and a 12-month high of $37.67. The stock has a market capitalization of $310.00 million, a PE ratio of -4.89 and a beta of 0.99.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLP. KeyCorp downgraded shares of Simulations Plus from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, July 15th. Cowen started coverage on Simulations Plus in a research note on Tuesday, September 30th. They issued a "hold" rating on the stock. William Blair reiterated an "outperform" rating on shares of Simulations Plus in a research note on Tuesday, July 15th. Stephens dropped their target price on Simulations Plus from $28.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Finally, TD Cowen initiated coverage on Simulations Plus in a report on Tuesday, September 30th. They set a "hold" rating and a $16.00 price target for the company. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $24.40.

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.

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