Renaissance Technologies LLC Purchases 161,500 Shares of Simulations Plus, Inc. $SLP

Key Points

• Renaissance Technologies increased its Simulations Plus position by 807.5% in the first quarter, buying 161,500 additional shares for a total of 181,500 shares valued at approximately $2.15 million. Institutional investors collectively own 78.08% of the company.
• Simulations Plus reported quarterly EPS of $0.30, beating estimates by $0.07, while revenue of $21.89 million also exceeded forecasts. Shares opened at $18.35, with a 12-month range of $11.09 to $21.01.
• Analyst sentiment remains cautious: multiple firms downgraded the stock to “Hold” or “Market Perform,” and the consensus rating is “Reduce” with a $17.25 target price.

Renaissance Technologies LLC boosted its position in shares of Simulations Plus, Inc. (NASDAQ:SLP - Free Report) by 807.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 181,500 shares of the technology company's stock after acquiring an additional 161,500 shares during the quarter. Renaissance Technologies LLC owned 0.90% of Simulations Plus worth $2,145,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Simulations Plus during the 2nd quarter valued at about $25,000. Quarry LP bought a new position in shares of Simulations Plus in the 3rd quarter worth approximately $28,000. PNC Financial Services Group Inc. boosted its holdings in shares of Simulations Plus by 59.3% in the first quarter. PNC Financial Services Group Inc. now owns 4,485 shares of the technology company's stock worth $53,000 after buying an additional 1,669 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of Simulations Plus in the first quarter worth approximately $54,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Simulations Plus by 343.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,983 shares of the technology company's stock valued at $73,000 after buying an additional 3,084 shares during the period. Institutional investors own 78.08% of the company's stock.

Simulations Plus Trading Up 0.2%

Shares of NASDAQ SLP opened at $18.35 on Tuesday. Simulations Plus, Inc. has a 12-month low of $11.09 and a 12-month high of $21.01. The firm's 50-day moving average price is $17.87 and its 200-day moving average price is $15.34. The stock has a market capitalization of $371.22 million, a price-to-earnings ratio of 45.88 and a beta of 1.32.

Simulations Plus (NASDAQ:SLP - Get Free Report) last released its quarterly earnings results on Thursday, July 9th. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.23 by $0.07. Simulations Plus had a return on equity of 13.50% and a net margin of 9.88%.The company had revenue of $21.89 million during the quarter, compared to analyst estimates of $20.90 million. On average, equities analysts predict that Simulations Plus, Inc. will post 0.8 EPS for the current fiscal year.

Insider Activity at Simulations Plus

In other news, Director Walter S. Woltosz sold 4,177 shares of Simulations Plus stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $18.44, for a total value of $77,023.88. Following the completion of the transaction, the director owned 3,202,131 shares in the company, valued at approximately $59,047,295.64. The trade was a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 19.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SLP shares. William Blair downgraded shares of Simulations Plus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, June 17th. Weiss Ratings raised shares of Simulations Plus from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, July 10th. Craig Hallum lowered Simulations Plus from a "buy" rating to a "hold" rating and set a $18.50 price objective for the company. in a research note on Thursday, June 18th. Finally, Wall Street Zen cut Simulations Plus from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Simulations Plus currently has an average rating of "Reduce" and a consensus target price of $17.25.

Simulations Plus Company Profile

Simulations Plus, Inc NASDAQ: SLP specializes in advanced modeling and simulation software tailored to the pharmaceutical, biotechnology and chemical industries. The company's flagship products include ADMET Predictor, a quantitative structure-activity relationship (QSAR) tool for predicting absorption, distribution, metabolism, excretion and toxicity properties, and GastroPlus, a physiologically based pharmacokinetic (PBPK) modeling platform for simulating drug absorption and pharmacokinetics.

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