Sumitomo Life Insurance Co. Boosts Stock Position in ANSYS, Inc. (NASDAQ:ANSS)

Sumitomo Life Insurance Co. raised its position in ANSYS, Inc. (NASDAQ:ANSS) by 1.8% during the third quarter, Holdings Channel.com reports. The firm owned 6,385 shares of the software maker’s stock after buying an additional 111 shares during the period. Sumitomo Life Insurance Co.’s holdings in ANSYS were worth $2,034,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ANSS. Kopion Asset Management LLC boosted its position in ANSYS by 39.7% during the third quarter. Kopion Asset Management LLC now owns 23,332 shares of the software maker’s stock worth $7,434,000 after acquiring an additional 6,635 shares during the last quarter. Asset Dedication LLC lifted its stake in shares of ANSYS by 35.1% during the 3rd quarter. Asset Dedication LLC now owns 385 shares of the software maker’s stock worth $123,000 after purchasing an additional 100 shares during the period. Swedbank AB boosted its holdings in shares of ANSYS by 5.5% during the third quarter. Swedbank AB now owns 8,401 shares of the software maker’s stock worth $2,677,000 after purchasing an additional 438 shares during the last quarter. Ulland Investment Advisors LLC grew its position in shares of ANSYS by 78.7% in the third quarter. Ulland Investment Advisors LLC now owns 1,269 shares of the software maker’s stock valued at $404,000 after purchasing an additional 559 shares during the period. Finally, Procyon Advisors LLC grew its position in shares of ANSYS by 2.5% in the third quarter. Procyon Advisors LLC now owns 2,263 shares of the software maker’s stock valued at $721,000 after purchasing an additional 56 shares during the period. 92.39% of the stock is owned by institutional investors and hedge funds.

ANSYS Stock Down 1.5 %

ANSS opened at $323.77 on Thursday. ANSYS, Inc. has a 1 year low of $258.01 and a 1 year high of $364.31. The firm has a 50 day moving average price of $319.34 and a 200 day moving average price of $322.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.95 and a current ratio of 2.95. The company has a market cap of $28.27 billion, a PE ratio of 65.01, a price-to-earnings-growth ratio of 6.99 and a beta of 1.11.

ANSYS (NASDAQ:ANSS) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.58. The company had revenue of $594.14 million during the quarter, compared to analyst estimates of $550.30 million. ANSYS had a net margin of 21.30% and a return on equity of 11.51%. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 earnings per share. Sell-side analysts expect that ANSYS, Inc. will post 7.32 earnings per share for the current year.

Insider Activity at ANSYS

In other news, Director Glenda Dorchak sold 152 shares of the company’s stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. KeyCorp initiated coverage on ANSYS in a research note on Thursday, June 27th. They issued a “sector weight” rating on the stock. Rosenblatt Securities decreased their target price on shares of ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, StockNews.com began coverage on shares of ANSYS in a research report on Sunday, September 22nd. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $318.33.

ANSYS Company 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.