StockNews.com Begins Coverage on ANSYS (NASDAQ:ANSS)

StockNews.com began coverage on shares of ANSYS (NASDAQ:ANSS) in a report published on Sunday morning. The firm issued a hold rating on the software maker’s stock.

A number of other analysts have also recently commented on ANSS. KeyCorp initiated coverage on ANSYS in a research report on Thursday, June 27th. They set a sector weight rating for the company. Rosenblatt Securities lowered their price target on shares of ANSYS from $345.00 to $335.00 and set a neutral rating for the company in a report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $318.33.

ANSYS Price Performance

Shares of NASDAQ ANSS opened at $324.19 on Friday. 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 company’s 50-day moving average price is $315.47 and its 200 day moving average price is $324.81. ANSYS has a 52 week low of $258.01 and a 52 week high of $364.31. The stock has a market cap of $28.30 billion, a price-to-earnings ratio of 65.10, a PEG ratio of 6.80 and a beta of 1.12.

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 analysts’ expectations of $550.30 million. During the same period last year, the company posted $1.06 EPS. The company’s revenue was up 19.6% on a year-over-year basis. As a group, research analysts forecast that ANSYS will post 7.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ANSYS news, Director Glenda Dorchak sold 159 shares of ANSYS stock in a transaction on Monday, July 8th. The shares were sold at an average price of $330.81, for a total value of $52,598.79. Following the transaction, the director now owns 3,782 shares in the company, valued at approximately $1,251,123.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ANSYS

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC acquired a new position in shares of ANSYS during the 4th quarter valued at $29,000. DT Investment Partners LLC boosted its position in shares of ANSYS by 888.9% in 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 during the period. Redwood Wealth Management Group LLC acquired a new stake in shares of ANSYS in the second quarter valued at about $32,000. DSM Capital Partners LLC acquired a new position in ANSYS during the 4th quarter worth approximately $34,000. Finally, Rothschild Investment LLC purchased a new position in ANSYS in the 2nd quarter worth approximately $38,000. 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.