Raymond James Financial Inc. Invests $3.63 Million in Certara, Inc. (NASDAQ:CERT)

Raymond James Financial Inc. acquired a new position in shares of Certara, Inc. (NASDAQ:CERT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 340,649 shares of the company's stock, valued at approximately $3,628,000. Raymond James Financial Inc. owned approximately 0.21% of Certara at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. grew its holdings in shares of Certara by 63.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 3,818,613 shares of the company's stock worth $40,668,000 after acquiring an additional 1,487,998 shares during the period. Bank of New York Mellon Corp increased its position in shares of Certara by 169.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,995,071 shares of the company's stock valued at $21,248,000 after buying an additional 1,253,385 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Certara during the 4th quarter worth $11,542,000. Teacher Retirement System of Texas boosted its position in shares of Certara by 13.9% in the 4th quarter. Teacher Retirement System of Texas now owns 4,557,951 shares of the company's stock worth $48,542,000 after buying an additional 557,348 shares in the last quarter. Finally, Norges Bank acquired a new stake in Certara in the 4th quarter valued at about $2,932,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.

Certara Price Performance

Shares of NASDAQ:CERT opened at $14.17 on Monday. The company has a market cap of $2.29 billion, a P/E ratio of -70.85, a P/E/G ratio of 9.29 and a beta of 1.64. The business has a fifty day simple moving average of $11.65 and a 200-day simple moving average of $11.57. Certara, Inc. has a 52 week low of $8.64 and a 52 week high of $17.94. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CERT. Barclays reduced their price target on shares of Certara from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. TD Cowen began coverage on Certara in a research note on Thursday, February 27th. They issued a "buy" rating and a $16.00 target price on the stock. Stephens reissued an "overweight" rating and set a $17.00 price target on shares of Certara in a research report on Thursday, February 27th. Robert W. Baird boosted their price target on Certara from $9.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, April 11th. Finally, KeyCorp increased their price objective on Certara from $15.00 to $18.00 and gave the company an "overweight" rating in a research note on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.