M&T Bank Corp Cuts Stock Holdings in ANSYS, Inc. (NASDAQ:ANSS)

M&T Bank Corp decreased its stake in shares of ANSYS, Inc. (NASDAQ:ANSS) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,541 shares of the software maker’s stock after selling 1,211 shares during the period. M&T Bank Corp’s holdings in ANSYS were worth $11,446,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ANSS. Commonwealth Equity Services LLC raised its stake in shares of ANSYS by 13.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,821 shares of the software maker’s stock valued at $1,732,000 after purchasing an additional 678 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of ANSYS by 57.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,132 shares of the software maker’s stock valued at $932,000 after purchasing an additional 1,145 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in ANSYS by 87.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 19,384 shares of the software maker’s stock worth $5,768,000 after acquiring an additional 9,030 shares during the last quarter. Forsta AP Fonden increased its stake in ANSYS by 4.9% in the 3rd quarter. Forsta AP Fonden now owns 19,100 shares of the software maker’s stock worth $5,683,000 after acquiring an additional 900 shares during the last quarter. Finally, Lindbrook Capital LLC increased its stake in ANSYS by 18.1% in the 3rd quarter. Lindbrook Capital LLC now owns 241 shares of the software maker’s stock worth $72,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Insiders Place Their Bets

In other news, Director Glenda Dorchak sold 150 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $342.08, for a total value of $51,312.00. Following the completion of the transaction, the director now owns 3,049 shares of the company’s stock, valued at approximately $1,043,001.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company’s stock.

ANSYS Trading Up 1.6 %

Shares of ANSS stock opened at $319.52 on Monday. The stock has a market capitalization of $27.89 billion, a PE ratio of 64.16, a P/E/G ratio of 5.01 and a beta of 1.16. ANSYS, Inc. has a 1-year low of $258.01 and a 1-year high of $364.31. The business has a 50-day moving average of $335.57 and a 200 day moving average of $322.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.80 and a quick ratio of 2.80.

ANSYS (NASDAQ:ANSS) last released its quarterly earnings data on Wednesday, May 1st. The software maker reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.54). ANSYS had a return on equity of 10.45% and a net margin of 19.51%. The business had revenue of $466.60 million during the quarter, compared to analysts’ expectations of $549.85 million. During the same quarter last year, the business posted $1.45 EPS. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ANSYS, Inc. will post 7.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANSS has been the topic of a number of research analyst reports. Barclays upped their target price on ANSYS from $314.00 to $340.00 and gave the stock an “underweight” rating in a research note on Thursday, February 22nd. Wolfe Research restated a “peer perform” rating on shares of ANSYS in a research note on Wednesday, January 17th. Rosenblatt Securities restated a “neutral” rating and issued a $345.00 target price on shares of ANSYS in a research note on Friday. Mizuho decreased their target price on ANSYS from $350.00 to $330.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 17th. Finally, StockNews.com assumed coverage on ANSYS in a report on Wednesday, May 1st. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, ANSYS has an average rating of “Hold” and a consensus target price of $320.00.

About ANSYS

ANSYS, Inc develops and markets engineering simulation software and services for engineers, designers, researchers, and students in the United States, Japan, Germany, China, Hong Kong, South Korea, rest of Europe, the Middle East, Africa, and internationally. It offers structural analysis product suite that provides simulation tools for product design and optimization; the Ansys Mechanical product, an element analysis software; LS-DYNA solver for multiphysics simulation; and power analysis and optimization software suite.