Kentucky Retirement Systems Insurance Trust Fund Decreases Position in ANSYS, Inc. (NASDAQ:ANSS)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of ANSYS, Inc. (NASDAQ:ANSS) by 8.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,587 shares of the software maker’s stock after selling 229 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in ANSYS were worth $824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. DT Investment Partners LLC lifted its stake in shares of ANSYS by 888.9% in the 2nd quarter. DT Investment Partners LLC now owns 89 shares of the software maker’s stock valued at $29,000 after acquiring an additional 80 shares during the last quarter. Redwood Wealth Management Group LLC bought a new stake in ANSYS in the second quarter valued at approximately $32,000. Rothschild Investment LLC bought a new stake in ANSYS in the second quarter valued at approximately $38,000. Bangor Savings Bank boosted its stake in shares of ANSYS by 32.7% during the third quarter. Bangor Savings Bank now owns 138 shares of the software maker’s stock valued at $44,000 after purchasing an additional 34 shares during the period. Finally, DiNuzzo Private Wealth Inc. grew its holdings in shares of ANSYS by 2,833.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 176 shares of the software maker’s stock worth $56,000 after purchasing an additional 170 shares during the last quarter. 92.39% of the stock is owned by institutional investors.

ANSYS Trading Down 2.3 %

Shares of ANSS opened at $332.38 on Monday. ANSYS, Inc. has a 1-year low of $275.81 and a 1-year high of $364.31. 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’s 50-day moving average price is $324.95 and its 200-day moving average price is $322.36. The firm has a market capitalization of $29.07 billion, a price-to-earnings ratio of 51.29, a PEG ratio of 3.76 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ANSS. Robert W. Baird increased their price target on shares of ANSYS from $350.00 to $365.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities cut their target price on ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, StockNews.com lowered ANSYS from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $342.50.

Insiders Place Their Bets

In other news, Director Glenda Dorchak sold 152 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $313.61, for a total value of $47,668.72. Following the completion of the transaction, the director now owns 3,630 shares of the company’s stock, valued at approximately $1,138,404.30. This represents a 4.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by company insiders.

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.