BTC Capital Management Inc. Raises Stock Holdings in ANSYS, Inc. (NASDAQ:ANSS)

BTC Capital Management Inc. increased its holdings in ANSYS, Inc. (NASDAQ:ANSS) by 24.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,540 shares of the software maker’s stock after purchasing an additional 302 shares during the period. BTC Capital Management Inc.’s holdings in ANSYS were worth $495,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Quest Partners LLC purchased a new stake in shares of ANSYS during the fourth quarter valued at $29,000. DSM Capital Partners LLC purchased a new position in shares of ANSYS during the fourth quarter worth approximately $34,000. Core Wealth Advisors Inc. bought a new stake in shares of ANSYS during the fourth quarter valued at approximately $40,000. Frazier Financial Advisors LLC purchased a new stake in shares of ANSYS in the fourth quarter valued at approximately $51,000. Finally, Janiczek Wealth Management LLC grew its stake in ANSYS by 39.1% in the first quarter. Janiczek Wealth Management LLC now owns 153 shares of the software maker’s stock worth $53,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Rosenblatt Securities cut their price target on ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. KeyCorp started coverage on ANSYS in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. Finally, StockNews.com started coverage on ANSYS in a report on Tuesday, August 13th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $318.33.

Insider Activity

In other news, Director Glenda Dorchak sold 159 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $330.81, for a total transaction of $52,598.79. Following the completion of the sale, the director now owns 3,782 shares of the company’s stock, valued at $1,251,123.42. The transaction was disclosed in a 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 Stock Performance

Shares of ANSS traded down $1.97 during mid-day trading on Monday, reaching $323.51. The company had a trading volume of 32,424 shares, compared to its average volume of 574,801. The stock has a market capitalization of $28.24 billion, a P/E ratio of 65.36, a PEG ratio of 6.90 and a beta of 1.11. ANSYS, Inc. has a 52-week low of $258.01 and a 52-week high of $364.31. The stock has a 50 day moving average of $319.51 and a two-hundred day moving average of $328.06. The company has a quick ratio of 2.80, a current ratio of 2.95 and a debt-to-equity ratio of 0.13.

ANSYS (NASDAQ:ANSS) last issued its quarterly earnings data on Wednesday, July 31st. The software maker reported $2.50 earnings per share for the quarter, topping 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 the consensus estimate of $550.30 million. During the same quarter in the prior year, the firm posted $1.06 earnings per share. The company’s revenue was up 19.6% compared to the same quarter last year. On average, analysts expect that ANSYS, Inc. will post 7.05 earnings per share for the current year.

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.