StockNews.com Upgrades ANSYS (NASDAQ:ANSS) to “Buy”

StockNews.com upgraded shares of ANSYS (NASDAQ:ANSS) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Separately, Rosenblatt Securities dropped their price objective on ANSYS from $345.00 to $335.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $318.33.

ANSYS Stock Performance

NASDAQ ANSS opened at $323.75 on Tuesday. The stock has a fifty day simple moving average of $320.18 and a 200-day simple moving average of $321.54. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.13. The stock has a market cap of $28.29 billion, a PE ratio of 57.20, a P/E/G ratio of 7.04 and a beta of 1.11. ANSYS has a twelve month low of $258.01 and a twelve month high of $364.31.

ANSYS (NASDAQ:ANSS) last announced its quarterly earnings results on Wednesday, July 31st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.58. ANSYS had a net margin of 21.30% and a return on equity of 11.51%. The business had revenue of $594.14 million during the quarter, compared to analysts’ expectations of $550.30 million. During the same period last year, the business earned $1.06 earnings per share. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. Equities analysts anticipate that ANSYS will post 7.32 earnings per share for the current year.

Insider Activity at ANSYS

In other ANSYS news, Director Glenda Dorchak sold 152 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $313.61, for a total transaction of $47,668.72. Following the sale, the director now owns 3,630 shares in the company, valued at $1,138,404.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ANSYS

Institutional investors and hedge funds have recently made changes to their positions in the stock. DT Investment Partners LLC grew its holdings in ANSYS by 888.9% during the 2nd quarter. DT Investment Partners LLC now owns 89 shares of the software maker’s stock worth $29,000 after acquiring an additional 80 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of ANSYS during the second quarter worth $32,000. Rothschild Investment LLC purchased a new position in ANSYS in the second quarter valued at $38,000. Bangor Savings Bank raised its stake in ANSYS by 32.7% in the third quarter. Bangor Savings Bank now owns 138 shares of the software maker’s stock valued at $44,000 after buying an additional 34 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in ANSYS by 2,800.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 174 shares of the software maker’s stock worth $60,000 after buying an additional 168 shares during 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.