Panagora Asset Management Inc. Sells 41,864 Shares of Simulations Plus, Inc. (NASDAQ:SLP)

Panagora Asset Management Inc. reduced its holdings in shares of Simulations Plus, Inc. (NASDAQ:SLP) by 79.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,823 shares of the technology company’s stock after selling 41,864 shares during the quarter. Panagora Asset Management Inc.’s holdings in Simulations Plus were worth $309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in shares of Simulations Plus by 59,875.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,399 shares of the technology company’s stock worth $51,000 after acquiring an additional 2,395 shares during the period. Cadence Capital Management LLC boosted its stake in Simulations Plus by 1.8% in the 1st quarter. Cadence Capital Management LLC now owns 139,442 shares of the technology company’s stock valued at $2,944,000 after purchasing an additional 2,466 shares during the period. Campbell & CO Investment Adviser LLC boosted its stake in Simulations Plus by 13.0% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 23,221 shares of the technology company’s stock valued at $663,000 after purchasing an additional 2,669 shares during the period. Envestnet Asset Management Inc. boosted its stake in Simulations Plus by 24.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 14,436 shares of the technology company’s stock valued at $412,000 after purchasing an additional 2,804 shares during the period. Finally, Bank of America Corp DE boosted its stake in Simulations Plus by 65.7% in the 4th quarter. Bank of America Corp DE now owns 8,754 shares of the technology company’s stock valued at $174,000 after purchasing an additional 3,471 shares during the period. Institutional investors own 41.97% of the company’s stock.

SLP traded up $0.62 during trading on Friday, hitting $35.26. The stock had a trading volume of 1,046 shares, compared to its average volume of 114,977. The company has a 50 day moving average price of $36.95 and a 200-day moving average price of $27.58. The firm has a market cap of $585.90 million, a price-to-earnings ratio of 69.81 and a beta of -0.35. Simulations Plus, Inc. has a one year low of $17.18 and a one year high of $41.95.

Simulations Plus (NASDAQ:SLP) last announced its quarterly earnings data on Wednesday, July 10th. The technology company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The firm had revenue of $9.94 million during the quarter, compared to analysts’ expectations of $9.85 million. Simulations Plus had a return on equity of 23.48% and a net margin of 24.09%. As a group, sell-side analysts expect that Simulations Plus, Inc. will post 0.46 EPS for the current fiscal year.

In other Simulations Plus news, Director John Kenneth Paglia sold 690 shares of Simulations Plus stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $37.86, for a total value of $26,123.40. Following the completion of the transaction, the director now directly owns 2,112 shares of the company’s stock, valued at approximately $79,960.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Walter S. Woltosz sold 24,000 shares of Simulations Plus stock in a transaction on Monday, August 26th. The shares were sold at an average price of $36.22, for a total value of $869,280.00. The disclosure for this sale can be found here. 31.57% of the stock is owned by insiders.

Several research firms recently issued reports on SLP. ValuEngine downgraded Simulations Plus from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd. Zacks Investment Research upgraded Simulations Plus from a “hold” rating to a “strong-buy” rating and set a $37.00 price target for the company in a research note on Friday, July 19th. Finally, BidaskClub downgraded Simulations Plus from a “strong-buy” rating to a “buy” rating in a research note on Tuesday.

Simulations Plus Profile

Simulations Plus, Inc develops drug discovery and development software for mechanistic modeling and simulation, and machine-learning-based prediction of properties of molecules from their structure worldwide. The company offers GastroPlus, which simulates the absorption, pharmacokinetics (PK), pharmacodynamics, and drug-drug interactions of compounds administered to humans and animals; DDDPlus that simulates in vitro laboratory experiments that measure the rate of dissolution of the drug and additives in a dosage form; and MembranePlus, which simulates laboratory experiments.

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Institutional Ownership by Quarter for Simulations Plus (NASDAQ:SLP)

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