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

Equities researchers at StockNews.com started coverage on shares of ANSYS (NASDAQ:ANSS) in a research note issued on Thursday. The firm set a “hold” rating on the software maker’s stock.

Several other equities analysts have also weighed in on ANSS. KeyCorp began coverage on ANSYS in a research note on Thursday, June 27th. They issued a “sector weight” rating on the stock. Rosenblatt Securities cut their target price on ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $318.33.

ANSYS Price Performance

ANSYS stock opened at $321.42 on Thursday. The business’s 50-day simple moving average is $319.06 and its 200 day simple moving average is $327.14. The stock has a market cap of $28.06 billion, a price-to-earnings ratio of 64.54, a P/E/G ratio of 6.90 and a beta of 1.11. ANSYS has a 12-month low of $258.01 and a 12-month high of $364.31. 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 posted its quarterly earnings results on Wednesday, July 31st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.58. The business had revenue of $594.14 million for the quarter, compared to analysts’ expectations of $550.30 million. ANSYS had a return on equity of 11.51% and a net margin of 21.30%. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.06 earnings per share. As a group, research analysts anticipate that ANSYS will post 7.05 earnings per share for the current year.

Insider Transactions at ANSYS

In other news, Director Glenda Dorchak sold 159 shares of the firm’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 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 legal filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ANSS. Norges Bank bought a new position in shares of ANSYS during the fourth quarter worth about $282,329,000. Swedbank AB bought a new position in shares of ANSYS during the first quarter worth about $128,089,000. M&G Plc bought a new position in shares of ANSYS during the first quarter worth about $115,922,000. Point72 Asset Management L.P. grew its holdings in shares of ANSYS by 210.1% during the fourth quarter. Point72 Asset Management L.P. now owns 325,000 shares of the software maker’s stock worth $117,936,000 after buying an additional 220,200 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in shares of ANSYS during the first quarter worth about $72,797,000. 92.39% of the stock is currently owned by institutional investors.

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.