Zacks Investment Research upgraded shares of ANSYS, Inc. (NASDAQ:ANSS) from a hold rating to a buy rating in a research note issued to investors on Tuesday, November 7th. Zacks Investment Research currently has $169.00 price target on the software maker’s stock.
According to Zacks, “ANSYS is a dominant player in the high-end design simulation software market. The company reported impressive third-quarter 2017 results. Both earnings and revenues increased on a year-over-year basis driven by robust growth in software license and maintenance & service revenues. We believe that robust product portfolio, expanding total addressable market (due to rising complexity in manufacturing IoT related products), improving enterprise penetration, collaborations with leading vendors, and strong balance sheet are the catalysts. Notably, the stock has outperformed the industry on a year-to-date basis. However, declining perpetual license revenues will hurt top-line growth at least in the near term. Moreover, weakness in Europe remains a major concern.”
Other analysts have also issued reports about the company. Royal Bank Of Canada restated a hold rating and issued a $118.00 price target on shares of ANSYS in a report on Monday, September 11th. BidaskClub upgraded ANSYS from a hold rating to a buy rating in a report on Monday, July 24th. Robert W. Baird set a $130.00 target price on ANSYS and gave the stock a buy rating in a report on Monday, August 28th. Wedbush reiterated a neutral rating and set a $129.19 target price (up previously from $114.00) on shares of ANSYS in a report on Friday, September 15th. Finally, Citigroup Inc. started coverage on ANSYS in a report on Friday, September 22nd. They set a neutral rating and a $125.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $128.91.
ANSYS (ANSS) traded up $0.59 during midday trading on Tuesday, hitting $151.16. The stock had a trading volume of 138,490 shares, compared to its average volume of 550,195. ANSYS has a one year low of $91.89 and a one year high of $155.14. The firm has a market cap of $12,830.00, a PE ratio of 43.02 and a beta of 1.05.
ANSYS (NASDAQ:ANSS) last announced its quarterly earnings data on Wednesday, November 1st. The software maker reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. The business had revenue of $276.77 million during the quarter, compared to analysts’ expectations of $263.77 million. ANSYS had a return on equity of 13.67% and a net margin of 26.01%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 earnings per share. equities analysts predict that ANSYS will post 3.57 earnings per share for the current year.
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In other ANSYS news, VP Shane Emswiler sold 12,504 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $151.96, for a total transaction of $1,900,107.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barbara Vaughn Scherer sold 1,000 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $150.00, for a total value of $150,000.00. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of ANSYS by 21.8% in the 2nd quarter. Vanguard Group Inc. now owns 8,496,114 shares of the software maker’s stock valued at $1,033,807,000 after acquiring an additional 1,520,201 shares during the last quarter. FMR LLC lifted its stake in shares of ANSYS by 0.7% in the 2nd quarter. FMR LLC now owns 6,684,365 shares of the software maker’s stock valued at $813,354,000 after acquiring an additional 45,211 shares during the last quarter. State Street Corp increased its holdings in ANSYS by 20.9% in the second quarter. State Street Corp now owns 3,512,429 shares of the software maker’s stock valued at $427,401,000 after purchasing an additional 607,765 shares during the period. Northern Trust Corp increased its holdings in ANSYS by 10.4% in the second quarter. Northern Trust Corp now owns 1,258,415 shares of the software maker’s stock valued at $153,125,000 after purchasing an additional 118,630 shares during the period. Finally, Mawer Investment Management Ltd. increased its holdings in ANSYS by 0.6% in the second quarter. Mawer Investment Management Ltd. now owns 1,141,118 shares of the software maker’s stock valued at $138,851,000 after purchasing an additional 6,540 shares during the period. Institutional investors own 96.00% of the company’s stock.
ANSYS Company Profile
ANSYS, Inc (ANSYS) develops and markets engineering simulation software and services used by engineers, designers, researchers and students across a range of industries and academia, including aerospace and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors.
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