Fort Pitt Capital Group LLC Sells 1,433 Shares of ANSYS, Inc. (NASDAQ:ANSS)

Fort Pitt Capital Group LLC lessened its holdings in shares of ANSYS, Inc. (NASDAQ:ANSS) by 7.2% in the third quarter, Holdings Channel.com reports. The firm owned 18,405 shares of the software maker’s stock after selling 1,433 shares during the period. Fort Pitt Capital Group LLC’s holdings in ANSYS were worth $5,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its position in ANSYS by 1.6% during the third quarter. Janney Montgomery Scott LLC now owns 34,423 shares of the software maker’s stock worth $10,968,000 after purchasing an additional 554 shares during the period. Chicago Partners Investment Group LLC bought a new position in ANSYS during the third quarter worth about $222,000. Eads & Heald Wealth Management boosted its position in ANSYS by 1.6% during the third quarter. Eads & Heald Wealth Management now owns 2,533 shares of the software maker’s stock worth $807,000 after purchasing an additional 40 shares during the period. Jacobson & Schmitt Advisors LLC boosted its position in ANSYS by 7.1% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 38,509 shares of the software maker’s stock worth $12,270,000 after purchasing an additional 2,541 shares during the period. Finally, Stephens Inc. AR boosted its position in ANSYS by 3.3% during the third quarter. Stephens Inc. AR now owns 1,579 shares of the software maker’s stock worth $503,000 after purchasing an additional 51 shares during the period. Institutional investors own 92.39% of the company’s stock.

Analyst Ratings Changes

ANSS has been the subject of a number of analyst reports. StockNews.com upgraded shares of ANSYS from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Rosenblatt Securities cut their price objective on shares of ANSYS from $345.00 to $335.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $318.33.

Insider Activity at ANSYS

In related news, Director Glenda Dorchak sold 152 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $313.61, for a total value of $47,668.72. Following the sale, the director now directly owns 3,630 shares of the company’s stock, valued at $1,138,404.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

ANSYS Trading Up 1.0 %

Shares of ANSS opened at $323.75 on Friday. The firm’s 50 day simple moving average is $320.18 and its 200 day simple moving average is $321.51. The company has a market capitalization of $28.29 billion, a P/E ratio of 57.20, a P/E/G ratio of 7.04 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.95 and a quick ratio of 2.95. ANSYS, Inc. has a 1-year low of $258.01 and a 1-year high of $364.31.

ANSYS (NASDAQ:ANSS) last announced its earnings results on Wednesday, July 31st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.58. The business had revenue of $594.14 million for the quarter, compared to the consensus estimate of $550.30 million. ANSYS had a net margin of 21.30% and a return on equity of 11.51%. ANSYS’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the firm posted $1.06 earnings per share. Sell-side analysts forecast that ANSYS, Inc. will post 7.32 earnings per share for the current fiscal year.

ANSYS 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.