Jennison Associates LLC trimmed its holdings in shares of Simulations Plus, Inc. (NASDAQ:SLP) by 91.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,061 shares of the technology company’s stock after selling 170,221 shares during the quarter. Jennison Associates LLC owned 0.08% of Simulations Plus worth $1,155,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of SLP. HighMark Wealth Management LLC grew its position in Simulations Plus by 452.2% in the 3rd quarter. HighMark Wealth Management LLC now owns 508 shares of the technology company’s stock valued at $38,000 after acquiring an additional 416 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in Simulations Plus in the 3rd quarter valued at about $75,000. Altshuler Shaham Ltd grew its position in Simulations Plus by 196.3% in the 3rd quarter. Altshuler Shaham Ltd now owns 1,185 shares of the technology company’s stock valued at $89,000 after acquiring an additional 785 shares in the last quarter. US Bancorp DE grew its position in Simulations Plus by 41.0% in the 4th quarter. US Bancorp DE now owns 1,317 shares of the technology company’s stock valued at $95,000 after acquiring an additional 383 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Simulations Plus by 20.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,356 shares of the technology company’s stock valued at $169,000 after acquiring an additional 400 shares in the last quarter. 60.75% of the stock is owned by hedge funds and other institutional investors.
SLP stock opened at $71.92 on Tuesday. The business has a 50 day moving average price of $78.88 and a 200 day moving average price of $68.75. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 141.02, a PEG ratio of 8.45 and a beta of -0.07. Simulations Plus, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $90.92.
The firm also recently announced a quarterly dividend, which was paid on Monday, February 1st. Investors of record on Monday, January 25th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.33%. The ex-dividend date was Friday, January 22nd. Simulations Plus’s payout ratio is 42.86%.
In other Simulations Plus news, CEO Shawn Oconnor sold 6,381 shares of the business’s stock in a transaction that occurred on Monday, November 30th. The stock was sold at an average price of $56.50, for a total value of $360,526.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David L. Ralph sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 11th. The shares were sold at an average price of $84.34, for a total value of $421,700.00. In the last 90 days, insiders have sold 84,251 shares of company stock valued at $6,192,574. 24.45% of the stock is owned by company insiders.
Several brokerages have recently issued reports on SLP. Craig Hallum cut Simulations Plus from a “buy” rating to a “hold” rating in a research note on Tuesday, January 12th. Zacks Investment Research upgraded Simulations Plus from a “sell” rating to a “hold” rating in a research note on Wednesday, January 13th. Oppenheimer lifted their price objective on Simulations Plus from $79.00 to $85.00 in a research note on Tuesday, January 12th. Taglich Brothers upgraded Simulations Plus from a “speculative buy” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Wednesday, November 25th. Finally, TheStreet upgraded Simulations Plus from a “c+” rating to a “b” rating in a research note on Friday, January 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $81.60.
About Simulations Plus
Simulations Plus, Inc develops drug discovery and development software for mechanistic modeling and simulation, and prediction of properties of molecules utilizing artificial-intelligence- and machine-learning-based technology 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; and MembranePlus, which simulates laboratory experiments.
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