Franklin Resources Inc. Sells 162,911 Shares of ANSYS, Inc. (NASDAQ:ANSS)

Franklin Resources Inc. cut its position in shares of ANSYS, Inc. (NASDAQ:ANSS) by 19.0% during the third quarter, HoldingsChannel.com reports. The firm owned 693,000 shares of the software maker’s stock after selling 162,911 shares during the period. Franklin Resources Inc.’s holdings in ANSYS were worth $232,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. DT Investment Partners LLC boosted its stake in ANSYS by 888.9% during the second quarter. DT Investment Partners LLC now owns 89 shares of the software maker’s stock worth $29,000 after buying an additional 80 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new stake in shares of ANSYS during the 2nd quarter valued at about $32,000. Rothschild Investment LLC bought a new stake in ANSYS in the second quarter valued at about $38,000. Bangor Savings Bank raised its holdings in shares of ANSYS by 32.7% in the 3rd quarter. Bangor Savings Bank now owns 138 shares of the software maker’s stock worth $44,000 after buying an additional 34 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. lifted its position in shares of ANSYS by 2,833.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 176 shares of the software maker’s stock worth $56,000 after buying an additional 170 shares during the period. 92.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com upgraded ANSYS from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Robert W. Baird raised their target price on ANSYS from $350.00 to $365.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, ANSYS presently has an average rating of “Hold” and an average price target of $342.50.

Insider Activity at ANSYS

In related news, Director Glenda Dorchak sold 152 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $313.61, for a total transaction of $47,668.72. Following the completion of the transaction, the director now owns 3,630 shares in the company, valued at approximately $1,138,404.30. The trade was a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

ANSYS Stock Performance

Shares of ANSYS stock opened at $340.24 on Friday. The firm has a fifty day moving average of $336.35 and a two-hundred day moving average of $325.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.11 and a current ratio of 3.11. The stock has a market capitalization of $29.75 billion, a price-to-earnings ratio of 52.51, a PEG ratio of 3.89 and a beta of 1.10. ANSYS, Inc. has a 52 week low of $289.82 and a 52 week high of $364.31.

ANSYS Profile

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.