Needham & Company LLC Reiterates Hold Rating for ANSYS, Inc. (NASDAQ:ANSS)

Needham & Company LLC reissued their hold rating on shares of ANSYS, Inc. (NASDAQ:ANSS) in a research report report published on Friday, November 3rd.

A number of other research firms have also recently commented on ANSS. Goldman Sachs Group, Inc. (The) started coverage on ANSYS in a research report on Monday, July 17th. They set a neutral rating and a $112.00 price objective for the company. KeyCorp reiterated a hold rating on shares of ANSYS in a research report on Friday, September 29th. Robert W. Baird set a $130.00 price objective on ANSYS and gave the stock a buy rating in a research report on Monday, August 28th. Wedbush restated a neutral rating and issued a $129.19 price target (up previously from $114.00) on shares of ANSYS in a report on Friday, September 15th. Finally, Berenberg Bank started coverage on ANSYS in a report on Wednesday, August 23rd. They issued a hold rating and a $123.00 price target for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $128.91.

Shares of ANSYS (NASDAQ ANSS) opened at $150.48 on Friday. ANSYS has a fifty-two week low of $91.89 and a fifty-two week high of $155.14. The company has a market capitalization of $12,831.75, a price-to-earnings ratio of 43.20 and a beta of 1.05.

ANSYS (NASDAQ:ANSS) last announced its quarterly earnings results on Wednesday, November 1st. The software maker reported $1.05 earnings per share for the quarter, beating 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 business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. research analysts anticipate that ANSYS will post 3.57 earnings per share for the current fiscal year.

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In related news, VP Shane Emswiler sold 12,504 shares of the business’s stock in a transaction that occurred 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Barbara Vaughn Scherer sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was 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. Insiders own 1.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning lifted its position in ANSYS by 68.6% during the 2nd 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. raised its position in shares of ANSYS by 7.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 995 shares of the software maker’s stock valued at $121,000 after purchasing an additional 69 shares in the last quarter. Parallax Volatility Advisers L.P. acquired a new position in shares of ANSYS in the 2nd quarter valued at approximately $138,000. Dupont Capital Management Corp acquired a new position in shares of ANSYS in the 2nd quarter valued at approximately $149,000. Finally, Fiduciary Trust Co. acquired a new position in shares of ANSYS in the 2nd quarter valued at approximately $170,000. 96.00% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for ANSYS (NASDAQ:ANSS)

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