New York State Common Retirement Fund Lowers Stock Holdings in ANSYS, Inc. (NASDAQ:ANSS)

New York State Common Retirement Fund cut its holdings in shares of ANSYS, Inc. (NASDAQ:ANSS) by 27.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 207,547 shares of the software maker’s stock after selling 79,040 shares during the period. New York State Common Retirement Fund’s holdings in ANSYS were worth $66,131,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. DT Investment Partners LLC increased its holdings in ANSYS by 888.9% during the 2nd quarter. DT Investment Partners LLC now owns 89 shares of the software maker’s stock worth $29,000 after purchasing an additional 80 shares during the period. Redwood Wealth Management Group LLC purchased a new stake in shares of ANSYS in the 2nd quarter valued at approximately $32,000. Rothschild Investment LLC acquired a new stake in shares of ANSYS in the 2nd quarter valued at $38,000. Bangor Savings Bank lifted its position in shares of ANSYS by 32.7% during the 3rd quarter. Bangor Savings Bank now owns 138 shares of the software maker’s stock worth $44,000 after purchasing an additional 34 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of ANSYS by 2,800.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 174 shares of the software maker’s stock worth $60,000 after purchasing an additional 168 shares in the last quarter. 92.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Glenda Dorchak sold 152 shares of ANSYS stock in a transaction on Monday, October 7th. The stock was sold at an average price of $313.61, for a total value of $47,668.72. Following the completion of the sale, the director now owns 3,630 shares of the company’s stock, valued at $1,138,404.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Rosenblatt Securities reduced their price objective on shares of ANSYS from $345.00 to $335.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. StockNews.com raised shares of ANSYS from a “hold” rating to a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $318.33.

ANSYS Trading Up 1.0 %

Shares of ANSS stock opened at $323.75 on Friday. ANSYS, Inc. has a twelve month low of $258.01 and a twelve month high of $364.31. The company has a market capitalization of $28.29 billion, a price-to-earnings ratio of 57.20, a PEG ratio of 7.04 and a beta of 1.11. The firm has a 50-day moving average price of $320.18 and a 200 day moving average price of $321.54. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.13.

ANSYS (NASDAQ:ANSS) last announced its quarterly earnings data 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 the consensus estimate of $550.30 million. ANSYS had a net margin of 21.30% and a return on equity of 11.51%. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 earnings per share. Research analysts forecast that ANSYS, Inc. will post 7.32 earnings per share for the current fiscal year.

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.