ANSYS (ANSS) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of ANSYS (NASDAQ:ANSS) from a buy rating to a hold rating in a report issued on Tuesday, January 2nd.

According to Zacks, “ANSYS is a dominant player in the high-end design simulation software market. The company recently acquired 3DSIM. We note that ANSYS’s timely acquisitions have significantly expanded product portfolio. We believe that robust product portfolio, expanding total addressable market (due to rising complexity in manufacturing IoT related products), improving enterprise penetration, collaborations with leading vendors, and strong balance sheet are the catalysts. Notably, the stock has outperformed the industry on the past one year. However, declining perpetual license revenues will hurt top-line growth at least in the near term. Moreover, weakness in Europe remains a major concern.”

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada reissued a hold rating and issued a $118.00 price target on shares of ANSYS in a report on Monday, September 11th. Wedbush reissued a neutral rating and issued a $129.19 price target (up previously from $114.00) on shares of ANSYS in a report on Friday, September 15th. Robert W. Baird set a $130.00 price objective on shares of ANSYS and gave the company a buy rating in a research note on Sunday, October 1st. Citigroup started coverage on shares of ANSYS in a research note on Friday, September 22nd. They issued a neutral rating and a $125.00 price objective for the company. Finally, Evercore ISI reaffirmed a hold rating and issued a $113.00 price objective on shares of ANSYS in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $128.91.

Shares of ANSYS (NASDAQ ANSS) traded up $0.10 during trading hours on Tuesday, hitting $152.21. 438,400 shares of the stock were exchanged, compared to its average volume of 486,813. The company has a market cap of $12,900.00, a price-to-earnings ratio of 47.86 and a beta of 1.07. ANSYS has a 1 year low of $92.33 and a 1 year high of $156.14.

ANSYS (NASDAQ:ANSS) last issued its quarterly earnings results on Wednesday, November 1st. The software maker reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.10. The firm had revenue of $276.77 million for the quarter, compared to analyst estimates of $263.77 million. ANSYS had a net margin of 26.01% and a return on equity of 13.67%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. analysts anticipate that ANSYS will post 3.57 earnings per share for the current year.

In other ANSYS news, Director Barbara Vaughn Scherer sold 1,000 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $150.00, for a total transaction of $150,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shane Emswiler sold 12,504 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $151.96, for a total transaction of $1,900,107.84. The disclosure for this sale can be found here. Insiders sold a total of 27,031 shares of company stock valued at $2,960,730 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ANSS. Progressive Investment Management Corp raised its holdings in ANSYS by 4.2% in the 4th quarter. Progressive Investment Management Corp now owns 28,389 shares of the software maker’s stock worth $4,190,000 after purchasing an additional 1,146 shares in the last quarter. Atlantic Trust Group LLC raised its holdings in ANSYS by 7.5% in the 3rd quarter. Atlantic Trust Group LLC now owns 109,301 shares of the software maker’s stock worth $13,414,000 after purchasing an additional 7,579 shares in the last quarter. Cambridge Financial Group Inc. bought a new position in ANSYS in the 3rd quarter worth $6,316,000. California Public Employees Retirement System raised its holdings in ANSYS by 5.9% in the 3rd quarter. California Public Employees Retirement System now owns 225,651 shares of the software maker’s stock worth $27,694,000 after purchasing an additional 12,551 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in ANSYS by 2.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 13,884 shares of the software maker’s stock worth $1,704,000 after purchasing an additional 356 shares in the last quarter. 96.67% of the stock is owned by institutional investors and hedge funds.

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About ANSYS

ANSYS, Inc (ANSYS) develops and markets engineering simulation software and services used by engineers, designers, researchers and students across a range of industries and academia, including aerospace and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors.

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