StockNews.com Begins Coverage on ANSYS (NASDAQ:ANSS)

StockNews.com initiated coverage on shares of ANSYS (NASDAQ:ANSS) in a report issued on Monday. The brokerage issued a hold rating on the software maker’s stock.

ANSS has been the subject of a number of other reports. Rosenblatt Securities reaffirmed a neutral rating and set a $345.00 price target on shares of ANSYS in a research note on Friday, May 3rd. KeyCorp initiated coverage on shares of ANSYS in a research note on Thursday, June 27th. They set a sector weight rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $318.33.

ANSYS Price Performance

ANSS stock opened at $298.80 on Monday. The firm’s 50-day moving average price is $320.46 and its two-hundred day moving average price is $329.23. ANSYS has a 12-month low of $258.01 and a 12-month high of $364.31. The stock has a market capitalization of $26.09 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 6.90 and a beta of 1.11. The company has a current ratio of 2.95, a quick ratio of 2.80 and a debt-to-equity ratio of 0.13.

ANSYS (NASDAQ:ANSS) last announced its quarterly earnings results on Wednesday, July 31st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.58. ANSYS had a net margin of 21.30% and a return on equity of 11.51%. The company had revenue of $594.14 million for the quarter, compared to analysts’ expectations of $550.30 million. During the same quarter in the previous year, the company earned $1.06 earnings per share. ANSYS’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, equities analysts predict that ANSYS will post 7.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Glenda Dorchak sold 159 shares of ANSYS stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $330.81, for a total value of $52,598.79. Following the completion of the transaction, the director now owns 3,782 shares in the company, valued at $1,251,123.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Hedge Funds Weigh In On ANSYS

A number of institutional investors have recently modified their holdings of the business. Prime Capital Investment Advisors LLC acquired a new position in ANSYS in the 4th quarter valued at about $200,000. Nisa Investment Advisors LLC grew its stake in ANSYS by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 43,601 shares of the software maker’s stock valued at $15,822,000 after acquiring an additional 707 shares in the last quarter. First Merchants Corp lifted its holdings in shares of ANSYS by 66.2% during the 4th quarter. First Merchants Corp now owns 7,834 shares of the software maker’s stock valued at $2,843,000 after buying an additional 3,119 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of ANSYS in the fourth quarter valued at approximately $446,400,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of ANSYS by 42.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 50,089 shares of the software maker’s stock valued at $18,176,000 after purchasing an additional 14,856 shares in the last quarter. 92.39% of the stock is owned by institutional investors and hedge funds.

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.