85,500 Shares in Simulations Plus, Inc. (NASDAQ:SLP) Purchased by Summitry LLC

Summitry LLC bought a new position in shares of Simulations Plus, Inc. (NASDAQ:SLP) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 85,500 shares of the technology company’s stock, valued at approximately $2,385,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Conestoga Capital Advisors LLC lifted its position in shares of Simulations Plus by 15.0% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,226,262 shares of the technology company’s stock valued at $62,090,000 after buying an additional 290,414 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Simulations Plus by 56.6% during the 4th quarter. Royce & Associates LP now owns 371,797 shares of the technology company’s stock worth $10,369,000 after buying an additional 134,381 shares in the last quarter. Nicholas Company Inc. bought a new position in shares of Simulations Plus in the fourth quarter worth about $3,418,000. Tributary Capital Management LLC boosted its position in Simulations Plus by 21.7% in the fourth quarter. Tributary Capital Management LLC now owns 396,093 shares of the technology company’s stock valued at $11,047,000 after buying an additional 70,526 shares in the last quarter. Finally, Stephens Inc. AR bought a new stake in shares of Simulations Plus during the fourth quarter worth about $905,000. 78.08% of the stock is owned by institutional investors.

Simulations Plus Stock Performance

Shares of Simulations Plus stock opened at $24.72 on Wednesday. The stock has a market capitalization of $496.67 million, a price-to-earnings ratio of 61.80 and a beta of 0.89. The company has a fifty day moving average of $31.15 and a 200-day moving average of $30.72. Simulations Plus, Inc. has a 52-week low of $24.00 and a 52-week high of $51.22.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. KeyCorp boosted their price objective on shares of Simulations Plus from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. William Blair reiterated an “outperform” rating on shares of Simulations Plus in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.40.

Insider Activity

In related news, Director Walter S. Woltosz sold 20,000 shares of the business’s 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 directly owns 3,402,584 shares in the company, valued at $115,381,623.44. The trade was a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 19.40% of the company’s stock.

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.