ValuEngine Upgrades ANSYS (ANSS) to Buy

ValuEngine upgraded shares of ANSYS (NASDAQ:ANSS) from a hold rating to a buy rating in a report issued on Friday morning.

Other research analysts also recently issued reports about the company. BidaskClub downgraded ANSYS from a strong-buy rating to a buy rating in a research report on Wednesday, July 25th. Berenberg Bank lifted their price objective on ANSYS from $190.00 to $200.00 and gave the stock a buy rating in a research report on Tuesday, August 7th. Guggenheim initiated coverage on ANSYS in a research report on Tuesday, August 7th. They set a buy rating and a $210.00 price objective for the company. Needham & Company LLC upgraded ANSYS from a hold rating to a buy rating and set a $172.00 price objective for the company in a research report on Monday, October 29th. Finally, Evercore ISI restated a hold rating and set a $150.00 price objective on shares of ANSYS in a research report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. ANSYS has an average rating of Buy and a consensus target price of $173.64.

Shares of ANSS stock traded up $2.14 during midday trading on Friday, reaching $155.28. 867,587 shares of the company traded hands, compared to its average volume of 822,271. ANSYS has a 1-year low of $140.78 and a 1-year high of $190.45. The company has a market cap of $13.09 billion, a price-to-earnings ratio of 37.87 and a beta of 1.29.

ANSYS (NASDAQ:ANSS) last posted its quarterly earnings results on Monday, August 6th. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.25. ANSYS had a net margin of 25.98% and a return on equity of 14.95%. The company had revenue of $308.90 million during the quarter, compared to the consensus estimate of $288.26 million. During the same period last year, the firm earned $0.99 EPS. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, equities research analysts expect that ANSYS will post 4.54 earnings per share for the current year.

In other ANSYS news, Director Alec D. Gallimore sold 276 shares of ANSYS stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $173.76, for a total value of $47,957.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajei Gopal sold 9,609 shares of ANSYS stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $186.35, for a total transaction of $1,790,637.15. The disclosure for this sale can be found here. Insiders have sold a total of 49,350 shares of company stock valued at $8,631,756 over the last 90 days. Insiders own 1.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in ANSYS by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,561,040 shares of the software maker’s stock worth $271,901,000 after acquiring an additional 60,785 shares during the period. Morgan Stanley grew its stake in ANSYS by 229.2% in the 2nd quarter. Morgan Stanley now owns 1,432,463 shares of the software maker’s stock worth $249,507,000 after acquiring an additional 997,328 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd grew its stake in ANSYS by 7.7% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 772,876 shares of the software maker’s stock worth $144,280,000 after acquiring an additional 55,075 shares during the period. Bessemer Group Inc. grew its stake in ANSYS by 0.9% in the 2nd quarter. Bessemer Group Inc. now owns 755,657 shares of the software maker’s stock worth $131,620,000 after acquiring an additional 6,501 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of ANSYS by 8.3% during the 2nd quarter. Bank of America Corp DE now owns 744,090 shares of the software maker’s stock valued at $129,606,000 after buying an additional 56,822 shares during the period. 94.41% of the stock is owned by hedge funds and other institutional investors.

About ANSYS

ANSYS, Inc develops and markets engineering simulation software and services worldwide. The company offers ANSYS Workbench, a framework upon which the company's engineering simulation technologies are built; ANSYS multiphysics software to simulate the interactions between structures, heat transfer, fluids, and electronics in a unified engineering simulation environment; and structural analysis product suite that provides simulation tools for product design and optimization.

Further Reading: Are analyst ratings accurate?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ANSYS (NASDAQ:ANSS)

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