Certara, Inc. (NASDAQ:CERT) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its holdings in Certara, Inc. (NASDAQ:CERT - Free Report) by 48.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 83,770 shares of the company's stock after selling 80,163 shares during the period. M&T Bank Corp owned approximately 0.05% of Certara worth $829,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in Certara by 218.8% during the first quarter. Versant Capital Management Inc now owns 2,719 shares of the company's stock worth $27,000 after purchasing an additional 1,866 shares in the last quarter. Wells Fargo & Company MN raised its stake 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 valued at $34,000 after acquiring an additional 1,047 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Certara in the fourth quarter valued at $47,000. Sterling Capital Management LLC raised its stake 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 valued at $77,000 after acquiring an additional 2,624 shares in the last quarter. Finally, Portside Wealth Group LLC acquired a new stake in shares of Certara in the first quarter valued at $104,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Certara Stock Performance

Shares of CERT traded down $0.40 during midday trading on Friday, reaching $10.15. 414,435 shares of the stock were exchanged, compared to its average volume of 1,492,606. The business's 50-day moving average price is $11.32 and its 200 day moving average price is $11.86. 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 twelve month low of $8.64 and a twelve month high of $16.88. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -507.75 and a beta of 1.43.

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

Wall Street Analyst Weigh In

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