Simulations Plus, Inc. (NASDAQ:SLP) declared a quarterly dividend on Wednesday, July 11th, Wall Street Journal reports. Investors of record on Thursday, July 26th will be paid a dividend of 0.06 per share by the technology company on Thursday, August 2nd. This represents a $0.24 annualized dividend and a yield of 1.37%. The ex-dividend date is Wednesday, July 25th.
Simulations Plus has raised its dividend payment by an average of 1.6% per year over the last three years. Simulations Plus has a payout ratio of 60.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Simulations Plus to earn $0.51 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 47.1%.
Shares of Simulations Plus opened at $17.55 on Friday, Marketbeat.com reports. Simulations Plus has a 52-week low of $13.38 and a 52-week high of $23.95. The firm has a market capitalization of $305.63 million, a P/E ratio of 44.00 and a beta of -0.60.
In related news, Chairman Walter S. Woltosz sold 18,500 shares of the company’s stock in a transaction on Thursday, April 26th. The shares were sold at an average price of $17.20, for a total value of $318,200.00. Following the completion of the transaction, the chairman now directly owns 5,472,908 shares in the company, valued at $94,134,017.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 33.45% of the stock is currently owned by insiders.
SLP has been the subject of several research reports. Zacks Investment Research upgraded shares of Simulations Plus from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Thursday, March 22nd. BidaskClub lowered shares of Simulations Plus from a “hold” rating to a “sell” rating in a research report on Friday, March 30th. Finally, ValuEngine upgraded shares of Simulations Plus from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd.
Simulations Plus Company Profile
Simulations Plus, Inc develops drug discovery and development software for mechanistic modeling and simulation worldwide. The company offers GastroPlus, which simulates the absorption, pharmacokinetics (PK), and pharmacodynamics of drugs administered to humans and animals; DDDPlus that simulates in vitro laboratory experiments, which measure the rate of dissolution of the drug and additives in a dosage form; and MembranePlus, which simulates laboratory experiments.
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