Congress Asset Management Co. Decreases Stake in Simulations Plus, Inc. (NASDAQ:SLP)

Congress Asset Management Co. lessened its stake in shares of Simulations Plus, Inc. (NASDAQ:SLP - Free Report) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 177,435 shares of the technology company's stock after selling 29,107 shares during the quarter. Congress Asset Management Co. owned approximately 0.88% of Simulations Plus worth $4,949,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLP. First Horizon Advisors Inc. grew its stake in shares of Simulations Plus by 82.6% during the third quarter. First Horizon Advisors Inc. now owns 818 shares of the technology company's stock worth $26,000 after buying an additional 370 shares during the last quarter. nVerses Capital LLC grew its stake in shares of Simulations Plus by 1,100.0% during the third quarter. nVerses Capital LLC now owns 1,200 shares of the technology company's stock worth $38,000 after buying an additional 1,100 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Simulations Plus during the third quarter worth $59,000. US Bancorp DE grew its stake in shares of Simulations Plus by 37.0% during the third quarter. US Bancorp DE now owns 4,974 shares of the technology company's stock worth $159,000 after buying an additional 1,343 shares during the last quarter. Finally, Pitcairn Co. lifted its holdings in shares of Simulations Plus by 9.1% during the third quarter. Pitcairn Co. now owns 6,599 shares of the technology company's stock worth $211,000 after purchasing an additional 549 shares during the period. Institutional investors own 78.08% of the company's stock.

Insider Activity

In other news, Director Walter S. Woltosz sold 20,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $33.91, for a total transaction of $678,200.00. Following the transaction, the director now owns 3,402,584 shares in the company, valued at approximately $115,381,623.44. This represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SLP. BTIG Research cut their price target on shares of Simulations Plus from $60.00 to $50.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Stephens began coverage on shares of Simulations Plus in a report on Friday, November 15th. They set an "overweight" rating and a $39.00 price target on the stock. KeyCorp lifted their price target on shares of Simulations Plus from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. William Blair restated an "outperform" rating on shares of Simulations Plus in a report on Wednesday, January 8th. Finally, StockNews.com lowered shares of Simulations Plus from a "hold" rating to a "sell" rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $49.40.

Simulations Plus Stock Performance

Shares of NASDAQ SLP traded down $0.07 during trading on Friday, hitting $31.77. 197,322 shares of the company traded hands, compared to its average volume of 261,504. The business's fifty day moving average is $31.69 and its 200 day moving average is $32.19. Simulations Plus, Inc. has a fifty-two week low of $24.00 and a fifty-two week high of $51.22. The firm has a market capitalization of $638.26 million, a price-to-earnings ratio of 79.43 and a beta of 0.83.

About Simulations Plus

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.