ANSYS (NASDAQ:ANSS) Given Initiates Rating at Oppenheimer

ANSYS (NASDAQ:ANSSGet Rating)‘s stock had its “initiates” rating reaffirmed by stock analysts at Oppenheimer in a research report issued on Wednesday, Benzinga reports.

ANSS has been the subject of several other research reports. Rosenblatt Securities lowered their price objective on ANSYS from $315.00 to $285.00 and set a “neutral” rating for the company in a research report on Thursday, July 21st. Credit Suisse Group reduced their price target on ANSYS from $339.00 to $320.00 and set an “outperform” rating for the company in a report on Monday, June 13th. Citigroup reduced their price target on ANSYS from $304.00 to $274.00 in a report on Thursday, July 21st. TheStreet downgraded ANSYS from a “b-” rating to a “c” rating in a report on Wednesday, May 4th. Finally, Royal Bank of Canada reduced their price target on ANSYS from $350.00 to $315.00 in a report on Friday, May 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, ANSYS presently has a consensus rating of “Hold” and an average target price of $288.36.

ANSYS Trading Up 2.6 %

ANSS stock traded up $6.89 on Wednesday, reaching $272.01. The company’s stock had a trading volume of 6,569 shares, compared to its average volume of 374,474. The business has a fifty day simple moving average of $247.84 and a two-hundred day simple moving average of $286.21. ANSYS has a 12-month low of $225.92 and a 12-month high of $413.89. The firm has a market cap of $23.66 billion, a PE ratio of 52.73, a PEG ratio of 3.52 and a beta of 1.27. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.28 and a current ratio of 2.28.

ANSYS (NASDAQ:ANSSGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The software maker reported $1.02 EPS for the quarter, beating the consensus estimate of $0.70 by $0.32. The business had revenue of $428.64 million during the quarter, compared to analyst estimates of $409.26 million. ANSYS had a return on equity of 12.14% and a net margin of 23.02%. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. As a group, research analysts forecast that ANSYS will post 6.27 EPS for the current year.

Insider Activity

In other news, Director Glenda Dorchak sold 800 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $256.18, for a total transaction of $204,944.00. Following the transaction, the director now owns 4,041 shares of the company’s stock, valued at approximately $1,035,223.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On ANSYS

A number of large investors have recently bought and sold shares of ANSS. BlackRock Inc. lifted its holdings in shares of ANSYS by 13.2% in the 1st quarter. BlackRock Inc. now owns 8,661,643 shares of the software maker’s stock worth $2,751,371,000 after buying an additional 1,009,148 shares during the period. Norges Bank purchased a new stake in shares of ANSYS during the 4th quarter worth $255,302,000. Assenagon Asset Management S.A. lifted its stake in shares of ANSYS by 175.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 701,248 shares of the software maker’s stock worth $167,802,000 after purchasing an additional 446,716 shares during the last quarter. Select Equity Group L.P. increased its position in ANSYS by 371.6% during the 1st quarter. Select Equity Group L.P. now owns 491,364 shares of the software maker’s stock valued at $156,082,000 after buying an additional 387,174 shares in the last quarter. Finally, Ninety One UK Ltd increased its position in ANSYS by 41.1% during the 1st quarter. Ninety One UK Ltd now owns 689,655 shares of the software maker’s stock valued at $219,069,000 after buying an additional 200,871 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

About ANSYS

(Get Rating)

ANSYS, Inc develops and markets engineering simulation software and services worldwide. It offers ANSYS Workbench, a framework upon which its multiphysics engineering simulation technologies are built and enables engineers to simulate the interactions between structures, heat transfer, fluids, electronics, and optical elements in a unified engineering simulation environment; high-performance computing product suite; power analysis and optimization software suite that manages the power budget, power delivery integrity, and power-induced noise in an electronic design; and structural analysis product suite that provides simulation tools for product design and optimization.

Featured Stories

Analyst Recommendations for ANSYS (NASDAQ:ANSS)

Receive News & Ratings for ANSYS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ANSYS and related companies with MarketBeat.com's FREE daily email newsletter.