ANSYS (NASDAQ:ANSS) Cut to “Hold” at StockNews.com

ANSYS (NASDAQ:ANSS) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Separately, Robert W. Baird upped their price target on ANSYS from $350.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $342.50.

ANSYS Stock Performance

Shares of ANSS stock traded up $0.27 during trading hours on Monday, hitting $338.65. 537,757 shares of the company were exchanged, compared to its average volume of 406,686. ANSYS has a 52-week low of $289.82 and a 52-week high of $363.03. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $340.79 and a 200 day simple moving average of $326.98. The stock has a market capitalization of $29.61 billion, a price-to-earnings ratio of 52.26, a P/E/G ratio of 3.89 and a beta of 1.11.

Hedge Funds Weigh In On ANSYS

Several hedge funds have recently made changes to their positions in the stock. Redwood Wealth Management Group LLC bought a new position in ANSYS in the 2nd quarter worth about $32,000. Bangor Savings Bank grew its position in ANSYS by 32.7% during the third quarter. Bangor Savings Bank now owns 138 shares of the software maker’s stock worth $44,000 after buying an additional 34 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in shares of ANSYS by 2,833.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 176 shares of the software maker’s stock valued at $56,000 after acquiring an additional 170 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of ANSYS during the 2nd quarter valued at about $64,000. Finally, Intact Investment Management Inc. purchased a new position in shares of ANSYS during the third quarter worth about $70,000. 92.39% of the stock is currently owned by hedge funds and other institutional investors.

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.