Simulations Plus, Inc. $SLP Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. significantly reduced its holdings in Simulations Plus, Inc. by 91.5% during the first quarter, owning approximately 35,129 shares worth $861,000 after selling 375,873 shares.
• Barclays PLC and First Trust Advisors LP increased their stakes in Simulations Plus by 2.7% and 47.3% respectively, highlighting continued interest from some institutional investors despite Invesco's reduction.
• Analyst ratings for Simulations Plus vary, with a consensus rating of "Moderate Buy" and an average target price of $26.50 following various adjustments in price objectives by different firms.

Invesco Ltd. reduced its holdings in Simulations Plus, Inc. (NASDAQ:SLP - Free Report) by 91.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,129 shares of the technology company's stock after selling 375,873 shares during the period. Invesco Ltd. owned approximately 0.17% of Simulations Plus worth $861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Conestoga Capital Advisors LLC lifted its stake in shares of Simulations Plus by 17.2% in the first quarter. Conestoga Capital Advisors LLC now owns 2,609,388 shares of the technology company's stock worth $63,982,000 after buying an additional 383,126 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Simulations Plus by 16.7% in the fourth quarter. Ameriprise Financial Inc. now owns 607,902 shares of the technology company's stock worth $16,954,000 after buying an additional 86,868 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Simulations Plus by 7,753.3% in the fourth quarter. Janus Henderson Group PLC now owns 542,899 shares of the technology company's stock worth $15,141,000 after buying an additional 535,986 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 worth $11,693,000 after buying an additional 24,266 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Simulations Plus by 10.0% in the fourth quarter. Northern Trust Corp now owns 236,373 shares of the technology company's stock worth $6,592,000 after buying an additional 21,453 shares in the last quarter. 78.08% of the stock is owned by hedge funds and other institutional investors.

Simulations Plus Stock Performance

Shares of SLP remained flat at $14.16 during trading on Tuesday. 513,983 shares of the company's stock were exchanged, compared to its average volume of 354,005. Simulations Plus, Inc. has a 1-year low of $12.39 and a 1-year high of $37.67. The firm has a market cap of $285.04 million, a PE ratio of -4.50 and a beta of 0.85. The business's fifty day moving average is $14.40 and its 200-day moving average is $23.00.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Craig Hallum decreased their price target on shares of Simulations Plus from $45.00 to $36.00 and set a "buy" rating on the stock in a research note on Friday, June 13th. Stephens reduced their target price on shares of Simulations Plus from $28.00 to $20.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. JMP Securities reaffirmed a "market perform" rating on shares of Simulations Plus in a research note on Wednesday, June 18th. BTIG Research reduced their target price on shares of Simulations Plus from $41.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, July 7th. Finally, KeyCorp downgraded shares of Simulations Plus from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.50.

Simulations Plus 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.