Zacks Investment Research cut shares of ANSYS (NASDAQ:ANSS) from a strong-buy rating to a hold rating in a report published on Tuesday.
According to Zacks, “ANSYS develops and globally markets engineering simulation software and services. Increasing demand for simulation particularly from industries like energy bodes well for ANSYS. We believe that robust product portfolio, expanding total addressable market improving enterprise penetration, collaborations with leading vendors, and strong balance sheet are the catalysts. The buyout of 3DSIM will help ANSYS to foray into 3D metal printing and access the industry's only complete additive manufacturing simulation workflow. Acquisitions like 3DSIM and OPTIS are not only enabling ANSYS to bring innovative solutions to the market but are also aiding it to enhance foothold in the competitive simulations market. Notably, shares of the company have outperformed the industry over the past one year. Nontheless, declining perpetual up front revenues, adverse foreign currency exchange rates, integration risks and stretched valuation are key negatives.”
ANSS has been the subject of a number of other research reports. Robert W. Baird upped their price target on ANSYS from $165.00 to $197.00 and gave the stock an outperform rating in a report on Monday, June 25th. UBS Group raised ANSYS from a neutral rating to an overweight rating in a report on Thursday, May 3rd. BidaskClub raised ANSYS from a buy rating to a strong-buy rating in a report on Saturday, March 10th. Wedbush reissued a neutral rating and set a $160.00 target price (down previously from $163.00) on shares of ANSYS in a report on Friday, May 4th. Finally, Goldman Sachs Group raised ANSYS from a neutral rating to a buy rating and set a $112.00 target price for the company in a report on Wednesday, June 20th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. ANSYS presently has a consensus rating of Hold and an average price target of $140.60.
ANSYS (NASDAQ:ANSS) last released its quarterly earnings results on Wednesday, May 2nd. The software maker reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.18. The company had revenue of $285.20 million during the quarter, compared to analysts’ expectations of $276.56 million. ANSYS had a return on equity of 14.51% and a net margin of 24.92%. ANSYS’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. analysts forecast that ANSYS will post 4.4 earnings per share for the current fiscal year.
In other news, Director James E. Cashman III sold 862 shares of the company’s stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $158.00, for a total value of $136,196.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ajei Gopal sold 3,711 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The shares were sold at an average price of $165.30, for a total value of $613,428.30. The disclosure for this sale can be found here. Insiders have sold 46,049 shares of company stock valued at $7,540,769 in the last three months. Insiders own 1.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of ANSYS in the first quarter valued at approximately $1,724,000. Suntrust Banks Inc. grew its position in shares of ANSYS by 6.9% in the first quarter. Suntrust Banks Inc. now owns 18,579 shares of the software maker’s stock valued at $2,910,000 after purchasing an additional 1,205 shares in the last quarter. Amalgamated Bank grew its position in shares of ANSYS by 6.2% in the first quarter. Amalgamated Bank now owns 19,561 shares of the software maker’s stock valued at $3,065,000 after purchasing an additional 1,147 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of ANSYS by 7.3% in the first quarter. Principal Financial Group Inc. now owns 144,288 shares of the software maker’s stock valued at $22,609,000 after purchasing an additional 9,776 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of ANSYS in the first quarter valued at approximately $501,000. Institutional investors and hedge funds own 93.02% of the company’s stock.
ANSYS Company Profile
ANSYS, Inc develops and markets engineering simulation software and services worldwide. The company offers ANSYS Workbench, a framework upon which the company's engineering simulation technologies are built; ANSYS multiphysics software to simulate the interactions between structures, heat transfer, fluids, and electronics in a unified engineering simulation environment; and structural analysis product suite that provides simulation tools for product design and optimization.
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