Mackenzie Financial Corp Buys 117,089 Shares of Certara, Inc. (NASDAQ:CERT)

Key Points

• Mackenzie Financial Corp increased its stake in Certara, Inc. by 7.0%, owning approximately $17.75 million worth of stock at the end of the first quarter.
• Certara's recent earnings report revealed $106 million in revenue with earnings per share of $0.14, exceeding analysts' expectations.
• Wall Street analysts currently have a consensus rating of "Moderate Buy" for Certara, with a price target of $15.29 per share.

Mackenzie Financial Corp raised its stake in Certara, Inc. (NASDAQ:CERT - Free Report) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,793,327 shares of the company's stock after purchasing an additional 117,089 shares during the quarter. Mackenzie Financial Corp owned about 1.11% of Certara worth $17,754,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CERT. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Certara by 164.2% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 6,213,278 shares of the company's stock valued at $66,171,000 after acquiring an additional 3,861,674 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Certara by 864.0% during the 4th quarter. Ameriprise Financial Inc. now owns 3,779,655 shares of the company's stock valued at $40,253,000 after buying an additional 3,387,590 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Certara during the 4th quarter valued at about $11,542,000. Royce & Associates LP bought a new stake in shares of Certara during the 1st quarter valued at about $4,439,000. Finally, Gotham Asset Management LLC grew its position in Certara by 590.1% in the 4th quarter. Gotham Asset Management LLC now owns 431,326 shares of the company's stock worth $4,594,000 after purchasing an additional 368,821 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company's stock.

Certara Price Performance

NASDAQ:CERT traded up $0.39 on Monday, reaching $9.93. The stock had a trading volume of 604,911 shares, compared to its average volume of 1,733,430. The company has a market capitalization of $1.61 billion, a P/E ratio of -495.25 and a beta of 1.42. Certara, Inc. has a 1-year low of $8.64 and a 1-year high of $15.69. The company has a quick ratio of 2.78, a current ratio of 2.78 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $11.04 and a 200-day moving average price of $11.83.

Certara (NASDAQ:CERT - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. The firm had revenue of $106.00 million for the quarter, compared to analyst estimates of $104.44 million. Certara had a negative net margin of 0.67% and a positive return on equity of 5.05%. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. Research analysts forecast that Certara, Inc. will post 0.28 EPS for the current year.

Analysts Set New Price Targets

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

Certara 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.