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

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

A number of other equities analysts have also recently weighed in on the company. Rosenblatt Securities reissued a neutral rating and issued a $345.00 price target on shares of ANSYS in a report on Friday, May 3rd. KeyCorp assumed coverage on ANSYS in a research note on Thursday, June 27th. They issued a sector weight rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $320.00.

ANSYS Stock Performance

NASDAQ ANSS opened at $320.08 on Friday. ANSYS has a fifty-two week low of $258.01 and a fifty-two week high of $364.31. The stock has a market cap of $27.94 billion, a price-to-earnings ratio of 64.27, a price-to-earnings-growth ratio of 7.00 and a beta of 1.11. The business has a fifty day moving average of $324.72 and a 200-day moving average of $331.76. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.14.

ANSYS (NASDAQ:ANSS) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $1.39 earnings per share 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 analyst estimates of $549.85 million. During the same period last year, the firm earned $1.45 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. As a group, analysts predict that ANSYS will post 7.05 earnings per share for the current fiscal year.

Insider Buying and Selling at ANSYS

In other ANSYS news, Director Glenda Dorchak sold 159 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was 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 document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On ANSYS

A number of institutional investors have recently added to or reduced their stakes in ANSS. Eads & Heald Wealth Management purchased a new stake in shares of ANSYS in the second quarter worth about $801,000. Harvey Investment Co. LLC boosted its position in shares of ANSYS by 0.5% in the second quarter. Harvey Investment Co. LLC now owns 100,391 shares of the software maker’s stock worth $32,276,000 after buying an additional 460 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in shares of ANSYS in the second quarter worth about $253,000. Carnegie Investment Counsel boosted its position in shares of ANSYS by 21.6% in the second quarter. Carnegie Investment Counsel now owns 86,743 shares of the software maker’s stock worth $27,888,000 after buying an additional 15,384 shares during the period. Finally, Ninety One North America Inc. boosted its position in shares of ANSYS by 93.4% in the second quarter. Ninety One North America Inc. now owns 59,801 shares of the software maker’s stock worth $19,226,000 after buying an additional 28,886 shares during the period. Hedge funds and other 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.