M&T Bank Corp Decreases Stock Position in Certara, Inc. (NASDAQ:CERT)

M&T Bank Corp trimmed its position in Certara, Inc. (NASDAQ:CERT - Free Report) by 48.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,770 shares of the company's stock after selling 80,163 shares during the period. M&T Bank Corp owned about 0.05% of Certara worth $829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CERT. Janney Montgomery Scott LLC acquired a new stake in Certara during the 1st quarter worth approximately $120,000. First Trust Advisors LP bought a new position in Certara during the 4th quarter valued at $140,000. Illinois Municipal Retirement Fund boosted its stake in Certara by 3.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 59,721 shares of the company's stock valued at $591,000 after acquiring an additional 2,268 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Certara in the 4th quarter worth about $3,628,000. Finally, Northern Trust Corp lifted its position in shares of Certara by 14.0% in the 4th quarter. Northern Trust Corp now owns 877,010 shares of the company's stock worth $9,340,000 after buying an additional 108,038 shares during the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Certara Stock Performance

Shares of CERT opened at $11.14 on Tuesday. The firm's 50 day moving average is $11.39 and its 200-day moving average is $11.88. The stock has a market capitalization of $1.81 billion, a P/E ratio of -557.00 and a beta of 1.43. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.78 and a quick ratio of 2.78. Certara, Inc. has a 12-month low of $8.64 and a 12-month high of $16.93.

Certara (NASDAQ:CERT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $106.00 million for the quarter, compared to analysts' expectations of $104.44 million. Certara had a negative net margin of 0.67% and a positive return on equity of 5.05%. The business'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 EPS. Equities research analysts anticipate that Certara, Inc. will post 0.28 EPS for the current fiscal year.

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.

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