Summitry LLC Invests $2.39 Million in Simulations Plus, Inc. (NASDAQ:SLP)

Summitry LLC purchased a new position in shares of Simulations Plus, Inc. (NASDAQ:SLP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 85,500 shares of the technology company's stock, valued at approximately $2,385,000. Summitry LLC owned approximately 0.43% of Simulations Plus as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SLP. LPL Financial LLC purchased a new position in Simulations Plus in the 4th quarter worth approximately $230,000. KLP Kapitalforvaltning AS purchased a new stake in Simulations Plus in the 4th quarter valued at $86,000. Sei Investments Co. acquired a new stake in shares of Simulations Plus in the 4th quarter worth $330,000. Quantbot Technologies LP raised its holdings in shares of Simulations Plus by 191.6% during the 4th quarter. Quantbot Technologies LP now owns 5,371 shares of the technology company's stock worth $150,000 after acquiring an additional 3,529 shares during the period. Finally, Nicholas Company Inc. acquired a new position in shares of Simulations Plus during the 4th quarter valued at about $3,418,000. 78.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $33.91, for a total value of $678,200.00. Following the completion of the transaction, the director now owns 3,402,584 shares in the company, valued at $115,381,623.44. The trade was a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.40% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

Several research firms have weighed in on SLP. William Blair reiterated an "outperform" rating on shares of Simulations Plus in a report on Wednesday, January 8th. KeyCorp raised their price objective on Simulations Plus from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.40.

Simulations Plus Price Performance

Shares of SLP stock traded up $0.09 during trading on Friday, reaching $24.29. The company's stock had a trading volume of 247,486 shares, compared to its average volume of 173,381. The company has a market capitalization of $488.03 million, a price-to-earnings ratio of 60.73 and a beta of 0.89. Simulations Plus, Inc. has a 1-year low of $23.63 and a 1-year high of $51.22. The stock's 50-day moving average price is $30.80 and its 200 day moving average price is $30.55.

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.