Simulations Plus (NASDAQ:SLP) Updates FY24 Earnings Guidance

Simulations Plus (NASDAQ:SLP) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $0.66-0.68 for the period, compared to the consensus EPS estimate of $0.67. The company issued revenue guidance of $66-69 million, compared to the consensus revenue estimate of $66.99 million.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Simulations Plus in a research report on Thursday, October 5th. They issued a hold rating for the company.

Simulations Plus Stock Performance

NASDAQ SLP traded up $0.10 on Friday, reaching $39.08. 136,780 shares of the stock traded hands, compared to its average volume of 110,748. Simulations Plus has a 12 month low of $32.58 and a 12 month high of $52.69. The company has a market cap of $779.26 million, a price-to-earnings ratio of 79.76 and a beta of 0.61. The company has a fifty day moving average price of $39.29 and a 200-day moving average price of $43.35.

Simulations Plus (NASDAQ:SLP) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Simulations Plus had a return on equity of 7.68% and a net margin of 16.67%. The firm had revenue of $15.60 million for the quarter, compared to analyst estimates of $16.94 million. During the same quarter last year, the firm posted $0.07 earnings per share. The business’s revenue for the quarter was up 33.3% on a year-over-year basis. As a group, research analysts anticipate that Simulations Plus will post 0.66 earnings per share for the current fiscal year.

Simulations Plus Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 30th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, October 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.61%. Simulations Plus’s dividend payout ratio is currently 48.98%.

Insider Buying and Selling at Simulations Plus

In other Simulations Plus news, Director John Kenneth Paglia sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $35.25, for a total value of $35,250.00. Following the completion of the transaction, the director now directly owns 3,097 shares in the company, valued at $109,169.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On Simulations Plus

A number of large investors have recently made changes to their positions in the business. Tudor Investment Corp Et Al grew its stake in Simulations Plus by 240.7% during the 3rd quarter. Tudor Investment Corp Et Al now owns 40,424 shares of the technology company’s stock worth $1,686,000 after buying an additional 28,559 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Simulations Plus during the third quarter valued at about $618,000. Royal Bank of Canada raised its position in shares of Simulations Plus by 3.7% in the 3rd quarter. Royal Bank of Canada now owns 104,567 shares of the technology company’s stock valued at $4,360,000 after purchasing an additional 3,716 shares during the last quarter. Legal & General Group Plc boosted its stake in Simulations Plus by 4.6% in the 3rd quarter. Legal & General Group Plc now owns 44,771 shares of the technology company’s stock worth $1,867,000 after purchasing an additional 1,970 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Simulations Plus by 7.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 391,798 shares of the technology company’s stock worth $16,338,000 after purchasing an additional 26,053 shares during the last quarter. 74.41% of the stock is owned by institutional investors and hedge funds.

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.