Congress Asset Management Co. MA Invests $2.56 Million in Simulations Plus, Inc. (NASDAQ:SLP)

Congress Asset Management Co. MA acquired a new position in Simulations Plus, Inc. (NASDAQ:SLP) during the third quarter, according to its most recent filing with the SEC. The firm acquired 73,722 shares of the technology company’s stock, valued at approximately $2,558,000.

Several other hedge funds have also modified their holdings of the company. Neuburgh Advisers LLC raised its holdings in Simulations Plus by 419.4% during the second quarter. Neuburgh Advisers LLC now owns 2,576 shares of the technology company’s stock worth $74,000 after purchasing an additional 2,080 shares in the last quarter. Glen Harbor Capital Management LLC increased its holdings in Simulations Plus by 419.4% in the second quarter. Glen Harbor Capital Management LLC now owns 3,542 shares of the technology company’s stock valued at $101,000 after buying an additional 2,860 shares in the last quarter. Elkfork Partners LLC increased its holdings in Simulations Plus by 419.4% in the second quarter. Elkfork Partners LLC now owns 4,508 shares of the technology company’s stock valued at $129,000 after buying an additional 3,640 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Simulations Plus by 5.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,783 shares of the technology company’s stock valued at $137,000 after buying an additional 265 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its holdings in Simulations Plus by 419.4% in the second quarter. Meadow Creek Investment Management LLC now owns 5,474 shares of the technology company’s stock valued at $156,000 after buying an additional 4,420 shares in the last quarter. Hedge funds and other institutional investors own 41.35% of the company’s stock.

In related news, Director Walter S. Woltosz sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $35.86, for a total transaction of $860,640.00. Following the sale, the director now owns 5,087,918 shares in the company, valued at $182,452,739.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 72,000 shares of company stock worth $2,532,720 over the last quarter. Company insiders own 31.57% of the company’s stock.

Several research firms have recently commented on SLP. Zacks Investment Research upgraded shares of Simulations Plus from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Wednesday, October 30th. Liberum Capital reiterated a “buy” rating on shares of Simulations Plus in a research report on Tuesday, October 22nd. BidaskClub lowered shares of Simulations Plus from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, ValuEngine lowered shares of Simulations Plus from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Simulations Plus has a consensus rating of “Hold” and an average target price of $38.00.

Shares of SLP stock traded up $0.27 during trading hours on Friday, hitting $33.25. The company’s stock had a trading volume of 100,300 shares, compared to its average volume of 92,136. The business has a fifty day moving average of $34.58 and a 200-day moving average of $31.43. The stock has a market cap of $592.56 million, a price-to-earnings ratio of 66.50 and a beta of -0.34. Simulations Plus, Inc. has a twelve month low of $17.18 and a twelve month high of $41.95.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 25th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $0.24 annualized dividend and a dividend yield of 0.72%. Simulations Plus’s dividend payout ratio is presently 48.00%.

Simulations Plus Company 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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