Zacks Investment Research upgraded shares of ANSYS, Inc. (NASDAQ:ANSS) from a hold rating to a buy rating in a research note published on Tuesday, November 7th. The firm currently has $169.00 price objective 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.”
Several other equities analysts have also recently issued reports on ANSS. Robert W. Baird restated an outperform rating and issued a $155.00 price target (up from $130.00) on shares of ANSYS in a research report on Friday, November 3rd. Royal Bank Of Canada upped their price target on shares of ANSYS from $130.00 to $147.00 and gave the company a sector perform rating in a research report on Friday, November 3rd. Citigroup Inc. initiated coverage on shares of ANSYS in a research report on Friday, September 22nd. They issued a neutral rating and a $125.00 price target for the company. Wedbush restated a neutral rating and issued a $114.00 price target (down from $136.00) on shares of ANSYS in a research report on Friday, November 3rd. Finally, BidaskClub upgraded shares of ANSYS from a buy rating to a strong-buy rating in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $128.91.
ANSYS (NASDAQ:ANSS) last released its quarterly earnings data on Wednesday, November 1st. The software maker reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 net margin of 26.01% and a return on equity of 13.67%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. equities research analysts expect that ANSYS will post 3.57 EPS for the current year.
In other news, VP Shane Emswiler sold 12,504 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $151.96, for a total value of $1,900,107.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Barbara Vaughn Scherer sold 1,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $150.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning boosted its stake in ANSYS by 68.6% during the second quarter. Creative Planning now owns 875 shares of the software maker’s stock worth $106,000 after acquiring an additional 356 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in ANSYS by 7.5% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 995 shares of the software maker’s stock worth $121,000 after acquiring an additional 69 shares in the last quarter. Parallax Volatility Advisers L.P. bought a new position in ANSYS during the second quarter worth $138,000. Dupont Capital Management Corp bought a new position in ANSYS during the second quarter worth $149,000. Finally, Fiduciary Trust Co. bought a new position in ANSYS during the second quarter worth $170,000. 96.00% of the stock is currently owned by institutional investors and hedge funds.
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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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