Norden Group LLC Invests $3.70 Million in ANSYS, Inc. (NASDAQ:ANSS)

Norden Group LLC bought a new position in shares of ANSYS, Inc. (NASDAQ:ANSS) in the first quarter, Holdings Channel reports. The firm bought 10,656 shares of the software maker’s stock, valued at approximately $3,699,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in ANSYS by 167.4% during the third quarter. Wellington Management Group LLP now owns 1,286,790 shares of the software maker’s stock valued at $382,884,000 after buying an additional 805,657 shares in the last quarter. Norges Bank acquired a new position in shares of ANSYS during the 4th quarter valued at $282,329,000. Alecta Tjanstepension Omsesidigt purchased a new stake in ANSYS during the 4th quarter worth $145,144,000. Comerica Bank increased its holdings in ANSYS by 1,922.9% in the 3rd quarter. Comerica Bank now owns 329,577 shares of the software maker’s stock valued at $98,066,000 after purchasing an additional 313,285 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in ANSYS by 210.1% in the fourth quarter. Point72 Asset Management L.P. now owns 325,000 shares of the software maker’s stock valued at $117,936,000 after purchasing an additional 220,200 shares during the period. Institutional investors and hedge funds own 92.39% of the company’s stock.

Wall Street Analyst Weigh In

ANSS has been the subject of several analyst reports. StockNews.com began coverage on ANSYS in a research report on Thursday. They issued a “hold” rating for the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $345.00 price objective on shares of ANSYS in a research report on Friday, May 3rd. Finally, KeyCorp assumed coverage on shares of ANSYS in a research note on Thursday, June 27th. They set a “sector weight” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $320.00.

ANSYS Stock Performance

Shares of ANSS opened at $326.95 on Thursday. The firm has a market cap of $28.54 billion, a price-to-earnings ratio of 65.65, a PEG ratio of 7.28 and a beta of 1.11. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $324.88 and its two-hundred day moving average is $333.37. ANSYS, Inc. has a 52-week low of $258.01 and a 52-week high of $364.31.

ANSYS (NASDAQ:ANSS) last issued its quarterly earnings results on Wednesday, May 1st. The software maker reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.54). ANSYS had a return on equity of 10.45% and a net margin of 19.51%. The company had revenue of $466.60 million during the quarter, compared to the consensus estimate of $549.85 million. During the same quarter last year, the firm posted $1.45 EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. Analysts forecast that ANSYS, Inc. will post 7.05 EPS for the current fiscal year.

Insider Activity

In related news, Director Glenda Dorchak sold 150 shares of ANSYS stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $342.08, for a total value of $51,312.00. Following the completion of the transaction, the director now directly owns 3,049 shares in the company, valued at $1,043,001.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

ANSYS Company 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.