Simulations Plus, Inc. (NASDAQ:SLP) announced a quarterly dividend on Wednesday, October 13th, Zacks reports. Shareholders of record on Monday, October 25th will be paid a dividend of 0.06 per share by the technology company on Monday, November 1st. This represents a $0.24 annualized dividend and a yield of 0.62%. The ex-dividend date is Friday, October 22nd.
Simulations Plus has raised its dividend payment by 14.3% over the last three years and has raised its dividend annually for the last 1 consecutive years. Simulations Plus has a payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Simulations Plus to earn $0.62 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 38.7%.
Shares of Simulations Plus stock opened at $38.78 on Thursday. The stock has a market capitalization of $780.76 million, a price-to-earnings ratio of 69.25, a P/E/G ratio of 4.86 and a beta of -0.10. Simulations Plus has a 1-year low of $36.90 and a 1-year high of $90.92. The firm’s 50-day moving average price is $43.05 and its two-hundred day moving average price is $50.92.
In other Simulations Plus news, Director Walter S. Woltosz sold 20,000 shares of the stock in a transaction on Tuesday, September 28th. The shares were sold at an average price of $38.54, for a total value of $770,800.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Walter S. Woltosz sold 8,803 shares of the stock in a transaction on Monday, August 30th. The stock was sold at an average price of $44.90, for a total transaction of $395,254.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,958 shares of company stock worth $2,185,860. Company insiders own 23.24% of the company’s stock.
A hedge fund recently raised its stake in Simulations Plus stock. Morgan Stanley lifted its stake in shares of Simulations Plus, Inc. (NASDAQ:SLP) by 46.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,464 shares of the technology company’s stock after acquiring an additional 34,868 shares during the period. Morgan Stanley owned approximately 0.55% of Simulations Plus worth $6,065,000 at the end of the most recent quarter. Institutional investors and hedge funds own 71.33% of the company’s stock.
SLP has been the topic of several research analyst reports. TheStreet cut shares of Simulations Plus from a “b-” rating to a “c+” rating in a research note on Monday, August 2nd. Craig Hallum decreased their price target on shares of Simulations Plus from $74.00 to $65.00 and set a “hold” rating on the stock in a research note on Tuesday, July 13th. Oppenheimer reissued a “buy” rating and set a $75.00 price target on shares of Simulations Plus in a research note on Tuesday, July 13th. Zacks Investment Research raised shares of Simulations Plus from a “sell” rating to a “hold” rating in a research note on Friday, September 3rd. Finally, Raymond James cut their price objective on shares of Simulations Plus from $95.00 to $54.00 and set an “outperform” rating on the stock in a report on Tuesday, July 13th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $67.50.
About Simulations Plus
Simulations Plus, Inc provides modeling and simulation software and consulting services supporting drug discovery, development research, and regulatory submissions. It operates through the following segments: Simulations Plus, Inc, Cognigen Corporation, DILIsym, and Lixoft. It designs and develops pharmaceutical simulation software to promote cost-effective solutions to a number of problems in pharmaceutical research and in the education of pharmacy and medical students.
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