ANSYS (NASDAQ:ANSS) Price Target Raised to $365.00

ANSYS (NASDAQ:ANSS) had its price objective boosted by Robert W. Baird from $350.00 to $365.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price objective points to a potential upside of 4.48% from the stock’s current price.

Other analysts also recently issued research reports about the company. StockNews.com downgraded ANSYS from a “buy” rating to a “hold” rating in a research report on Wednesday. Rosenblatt Securities reduced their target price on ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, ANSYS presently has an average rating of “Hold” and a consensus price target of $333.00.

ANSYS Trading Up 4.7 %

Shares of NASDAQ:ANSS traded up $15.73 during mid-day trading on Thursday, hitting $349.35. The stock had a trading volume of 498,149 shares, compared to its average volume of 523,978. ANSYS has a 12-month low of $275.81 and a 12-month high of $364.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.95 and a current ratio of 2.95. The company has a market cap of $30.53 billion, a PE ratio of 61.67, a P/E/G ratio of 6.94 and a beta of 1.11. The company’s 50 day moving average is $320.75 and its 200-day moving average is $321.58.

ANSYS (NASDAQ:ANSS) last posted its quarterly earnings results on Wednesday, November 6th. The software maker reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.72. ANSYS had a return on equity of 11.51% and a net margin of 21.30%. The firm had revenue of $601.89 million for the quarter, compared to analyst estimates of $531.07 million. On average, sell-side analysts predict that ANSYS will post 7.32 EPS for the current year.

Insiders Place Their Bets

In other ANSYS news, Director Glenda Dorchak sold 152 shares of the firm’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 sale, the director now directly owns 3,630 shares in the company, valued at approximately $1,138,404.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of ANSYS

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norden Group LLC bought a new stake in shares of ANSYS during the 1st quarter worth approximately $231,000. Texas Permanent School Fund Corp boosted its stake in ANSYS by 0.3% in the first quarter. Texas Permanent School Fund Corp now owns 17,971 shares of the software maker’s stock valued at $6,239,000 after buying an additional 47 shares in the last quarter. SG Americas Securities LLC increased its position in ANSYS by 25.5% during the 1st quarter. SG Americas Securities LLC now owns 9,968 shares of the software maker’s stock worth $3,460,000 after purchasing an additional 2,026 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in ANSYS by 594.3% during the first quarter. Illinois Municipal Retirement Fund now owns 24,850 shares of the software maker’s stock worth $8,627,000 after buying an additional 21,271 shares during the last quarter. Finally, Forsta AP Fonden raised its position in shares of ANSYS by 15.1% in the 1st quarter. Forsta AP Fonden now owns 19,100 shares of the software maker’s stock worth $6,631,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 92.39% of the company’s stock.

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.