Simulations Plus (NASDAQ:SLP) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Simulations Plus (NASDAQ:SLP - Get Free Report) posted its quarterly earnings data on Wednesday. The technology company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.02, Briefing.com reports. Simulations Plus had a net margin of 17.12% and a return on equity of 8.18%. The firm had revenue of $18.31 million for the quarter, compared to the consensus estimate of $17.31 million. During the same period in the prior year, the firm posted $0.20 EPS. The firm's revenue was up 16.2% compared to the same quarter last year. Simulations Plus updated its FY24 guidance to $0.66-0.68 EPS and its FY 2024 guidance to 0.660-0.680 EPS.

Simulations Plus Price Performance

Shares of SLP stock traded up $9.08 during trading hours on Thursday, reaching $47.54. The stock had a trading volume of 621,380 shares, compared to its average volume of 108,830. Simulations Plus has a twelve month low of $32.69 and a twelve month high of $52.69. The firm has a 50-day simple moving average of $41.48 and a 200-day simple moving average of $40.43. The firm has a market capitalization of $949.37 million, a PE ratio of 89.70 and a beta of 0.72.

Insider Activity at Simulations Plus

In related news, Director Walter S. Woltosz sold 18,945 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $38.02, for a total value of $720,288.90. Following the completion of the transaction, the director now owns 3,641,250 shares in the company, valued at approximately $138,440,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Walter S. Woltosz sold 20,000 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $39.94, for a total transaction of $798,800.00. Following the completion of the transaction, the director now owns 3,600,195 shares in the company, valued at approximately $143,791,788.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Walter S. Woltosz sold 18,945 shares of the firm's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $38.02, for a total transaction of $720,288.90. Following the transaction, the director now owns 3,641,250 shares of the company's stock, valued at approximately $138,440,325. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its position in shares of Simulations Plus by 0.5% in the first quarter. Rhumbline Advisers now owns 59,693 shares of the technology company's stock worth $3,043,000 after purchasing an additional 279 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Simulations Plus by 6.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 4,868 shares of the technology company's stock worth $211,000 after purchasing an additional 280 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Simulations Plus by 0.6% in the second quarter. JPMorgan Chase & Co. now owns 51,715 shares of the technology company's stock worth $2,551,000 after purchasing an additional 284 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Simulations Plus by 3.2% in the fourth quarter. Franklin Resources Inc. now owns 9,118 shares of the technology company's stock worth $408,000 after purchasing an additional 287 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in Simulations Plus by 0.8% during the second quarter. Nuveen Asset Management LLC now owns 46,852 shares of the technology company's stock valued at $2,030,000 after acquiring an additional 370 shares in the last quarter. 78.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Craig Hallum increased their target price on shares of Simulations Plus from $50.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, January 4th.

Simulations Plus Company 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.