Zacks Investment Research lowered shares of ANSYS (NASDAQ:ANSS) from a buy rating to a hold rating in a research report sent to investors 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 also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a hold rating and set a $118.00 target price on shares of ANSYS in a research note on Monday, September 11th. Wedbush reissued a neutral rating and set a $129.19 price target (up previously from $114.00) on shares of ANSYS in a research report on Friday, September 15th. Robert W. Baird set a $130.00 price target on shares of ANSYS and gave the company a buy rating in a research report on Sunday, October 1st. Citigroup initiated coverage on shares of ANSYS in a research report on Friday, September 22nd. They set a neutral rating and a $125.00 price target for the company. Finally, Evercore ISI reissued a hold rating and set a $113.00 price target on shares of ANSYS in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. ANSYS presently has an average rating of Hold and an average target price of $128.91.
Shares of ANSYS (NASDAQ ANSS) opened at $161.54 on Tuesday. ANSYS has a 1-year low of $92.33 and a 1-year high of $161.95. The company has a market cap of $13,436.81, a PE ratio of 45.24 and a beta of 1.07.
ANSYS (NASDAQ:ANSS) last issued its quarterly earnings data on Wednesday, November 1st. The software maker reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.10. ANSYS had a net margin of 26.01% and a return on equity of 13.67%. The business had revenue of $276.77 million during the quarter, compared to analyst estimates of $263.77 million. During the same period last year, the business posted $0.95 earnings per share. ANSYS’s quarterly revenue was up 12.6% compared to the same quarter last year. analysts forecast that ANSYS will post 3.57 EPS for the current fiscal year.
In other ANSYS news, VP Richard S. Mahoney sold 8,527 shares of ANSYS stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $17.84, for a total value of $152,121.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shane Emswiler sold 12,504 shares of ANSYS stock in a transaction on Tuesday, November 7th. The stock was 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. In the last ninety days, insiders sold 27,031 shares of company stock valued at $2,960,730. 1.30% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Intermede Investment Partners Ltd boosted its stake in shares of ANSYS by 4.8% during the 4th quarter. Intermede Investment Partners Ltd now owns 370,561 shares of the software maker’s stock worth $54,691,000 after acquiring an additional 16,949 shares during the last quarter. Diversified Trust Co purchased a new position in shares of ANSYS during the 4th quarter worth $210,000. State of Alaska Department of Revenue boosted its stake in shares of ANSYS by 51.2% during the 4th quarter. State of Alaska Department of Revenue now owns 17,592 shares of the software maker’s stock worth $2,595,000 after acquiring an additional 5,960 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of ANSYS by 33.7% during the 4th quarter. Acadian Asset Management LLC now owns 21,782 shares of the software maker’s stock worth $3,214,000 after acquiring an additional 5,494 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of ANSYS by 2.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 455,634 shares of the software maker’s stock valued at $67,248,000 after buying an additional 12,110 shares in the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.
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ANSYS Company Profile
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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