West Tower Group LLC Sells 900 Shares of ANSYS, Inc. (NASDAQ:ANSS)

West Tower Group LLC reduced its holdings in shares of ANSYS, Inc. (NASDAQ:ANSS) by 62.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 550 shares of the software maker’s stock after selling 900 shares during the period. West Tower Group LLC’s holdings in ANSYS were worth $175,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ANSS. Gamco Investors INC. ET AL purchased a new stake in shares of ANSYS during the first quarter valued at approximately $218,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of ANSYS during the first quarter valued at approximately $377,000. Tidal Investments LLC boosted its stake in shares of ANSYS by 9.8% during the first quarter. Tidal Investments LLC now owns 9,418 shares of the software maker’s stock valued at $3,270,000 after purchasing an additional 839 shares during the period. Wahed Invest LLC boosted its stake in shares of ANSYS by 15.1% during the first quarter. Wahed Invest LLC now owns 1,700 shares of the software maker’s stock valued at $590,000 after purchasing an additional 223 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of ANSYS during the first quarter valued at approximately $387,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Insiders Place Their Bets

In other news, Director Glenda Dorchak sold 152 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was 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 directly owns 3,630 shares in the company, valued at $1,138,404.30. This trade represents a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

ANSYS Price Performance

ANSS opened at $352.14 on Tuesday. The stock has a fifty day simple moving average of $328.51 and a two-hundred day simple moving average of $323.31. 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 company has a market cap of $30.79 billion, a price-to-earnings ratio of 54.34, a price-to-earnings-growth ratio of 3.96 and a beta of 1.11. ANSYS, Inc. has a 12-month low of $275.81 and a 12-month high of $364.31.

Analyst Ratings Changes

A number of analysts recently commented on the company. Robert W. Baird raised their price target on ANSYS from $350.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com lowered ANSYS from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Rosenblatt Securities dropped their price target on ANSYS from $345.00 to $335.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $342.50.

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.