Envestnet Asset Management Inc. Raises Stock Position in Certara, Inc. (NASDAQ:CERT)

Envestnet Asset Management Inc. boosted its stake in Certara, Inc. (NASDAQ:CERT - Free Report) by 23.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 511,235 shares of the company's stock after buying an additional 97,179 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.32% of Certara worth $5,061,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc lifted its stake in Certara by 218.8% in the first quarter. Versant Capital Management Inc now owns 2,719 shares of the company's stock valued at $27,000 after buying an additional 1,866 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Certara by 48.4% in the fourth 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. bought a new stake in shares of Certara in the fourth quarter worth about $47,000. Sterling Capital Management LLC increased its holdings in shares of Certara by 57.2% in the fourth 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 bought a new stake in shares of Certara in the first quarter worth about $104,000. Institutional investors and hedge funds own 73.96% of the company's stock.

Wall Street Analysts Forecast Growth

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

Certara Price Performance

NASDAQ:CERT traded up $0.11 during trading hours on Friday, hitting $11.09. 1,152,145 shares of the company's stock traded hands, compared to its average volume of 1,651,786. The firm has a market cap of $1.80 billion, a P/E ratio of -554.50 and a beta of 1.43. Certara, Inc. has a 52 week low of $8.64 and a 52 week high of $16.18. The business's fifty day simple moving average is $11.17 and its two-hundred day simple moving average is $11.85. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.27.

Certara (NASDAQ:CERT - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. The firm had revenue of $106.00 million during the quarter, compared to analyst estimates 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 revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, research analysts anticipate that Certara, Inc. will post 0.28 earnings per share for the current fiscal year.

About Certara

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.