Conestoga Capital Advisors LLC Trims Stock Position in Simulations Plus, Inc. (NASDAQ:SLP)

Conestoga Capital Advisors LLC cut its position in Simulations Plus, Inc. (NASDAQ:SLP - Free Report) by 14.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,935,848 shares of the technology company's stock after selling 327,816 shares during the period. Conestoga Capital Advisors LLC owned 9.67% of Simulations Plus worth $61,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Simulations Plus during the 1st quarter worth approximately $1,082,000. Silvercrest Asset Management Group LLC purchased a new stake in Simulations Plus in the 1st quarter valued at $4,717,000. Deerfield Management Company L.P. Series C purchased a new position in shares of Simulations Plus during the 2nd quarter worth $811,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Simulations Plus in the first quarter valued at about $70,000. Finally, Principal Financial Group Inc. increased its position in Simulations Plus by 1.4% during the first quarter. Principal Financial Group Inc. now owns 88,142 shares of the technology company's stock worth $3,627,000 after purchasing an additional 1,203 shares during the last quarter. 78.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. William Blair reissued an "outperform" rating on shares of Simulations Plus in a research note on Thursday, October 24th. JMP Securities assumed coverage on Simulations Plus in a research report on Tuesday, July 16th. They issued a "market perform" rating for the company. BTIG Research cut their target price on Simulations Plus from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Finally, KeyCorp assumed coverage on Simulations Plus in a research note on Monday, July 29th. They issued an "overweight" rating and a $47.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

Insider Buying and Selling at Simulations Plus

In other news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $35.18, for a total transaction of $703,600.00. Following the sale, the director now owns 3,501,592 shares of the company's stock, valued at approximately $123,186,006.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 40,750 shares of company stock valued at $1,352,455 in the last three months. 20.90% of the stock is owned by corporate insiders.

Simulations Plus Price Performance

Shares of NASDAQ:SLP traded up $0.56 during mid-day trading on Friday, reaching $27.78. 202,707 shares of the company were exchanged, compared to its average volume of 132,919. The firm has a market cap of $555.88 million, a price-to-earnings ratio of 55.55 and a beta of 0.69. Simulations Plus, Inc. has a 1 year low of $27.22 and a 1 year high of $51.22. The firm's 50-day simple moving average is $32.46 and its 200 day simple moving average is $40.10.

Simulations Plus (NASDAQ:SLP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. The business had revenue of $18.70 million during the quarter, compared to analysts' expectations of $19.73 million. Simulations Plus had a return on equity of 6.16% and a net margin of 14.15%. The company's revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, research analysts forecast that Simulations Plus, Inc. will post 1.11 earnings per share for the current fiscal year.

Simulations Plus 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.