US Bancorp DE lifted its stake in shares of Certara, Inc. (NASDAQ:CERT – Get Rating) by 11.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,309 shares of the company’s stock after buying an additional 2,334 shares during the quarter. US Bancorp DE’s holdings in Certara were worth $297,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Certara during the 3rd quarter worth approximately $95,000. Quaker Wealth Management LLC acquired a new position in shares of Certara during the third quarter worth $166,000. Riverbridge Partners LLC increased its holdings in Certara by 8.4% in the third quarter. Riverbridge Partners LLC now owns 4,379,622 shares of the company’s stock valued at $58,161,000 after buying an additional 340,120 shares during the last quarter. Raymond James & Associates raised its stake in Certara by 54.4% in the third quarter. Raymond James & Associates now owns 55,820 shares of the company’s stock valued at $741,000 after buying an additional 19,659 shares in the last quarter. Finally, Pembroke Management LTD lifted its holdings in Certara by 18.2% during the 3rd quarter. Pembroke Management LTD now owns 446,819 shares of the company’s stock worth $5,933,000 after buying an additional 68,798 shares during the last quarter. 75.45% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CERT has been the topic of several research analyst reports. Barclays raised their target price on Certara from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday. Credit Suisse Group reduced their price objective on shares of Certara from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, November 14th. Finally, Robert W. Baird downgraded shares of Certara from an “outperform” rating to a “neutral” rating and increased their target price for the company from $17.00 to $19.00 in a research report on Wednesday, December 14th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.86.
Certara Price Performance
Certara (NASDAQ:CERT – Get Rating) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $84.70 million during the quarter, compared to analysts’ expectations of $82.36 million. Certara had a negative net margin of 1.28% and a positive return on equity of 4.25%. On average, research analysts forecast that Certara, Inc. will post 0.29 earnings per share for the current year.
Insider Transactions at Certara
In related news, Director Matthew M. Walsh sold 12,059 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $14.74, for a total value of $177,749.66. Following the transaction, the director now owns 167,901 shares in the company, valued at approximately $2,474,860.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Leif E. Pedersen sold 51,223 shares of Certara stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $15.55, for a total value of $796,517.65. Following the transaction, the insider now directly owns 175,500 shares in the company, valued at approximately $2,729,025. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew M. Walsh sold 12,059 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $14.74, for a total transaction of $177,749.66. Following the completion of the transaction, the director now directly owns 167,901 shares in the company, valued at $2,474,860.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,017,803 shares of company stock worth $450,292,082. Company insiders own 4.02% of the company’s stock.
Certara, Inc provides software products and technology-enabled services to customers for biosimulation in drug discovery, preclinical and clinical research, regulatory submissions, and market access. It offers medicines to patients using biosimulation software, technology, and services to transform drug discovery and development.
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