Rosenblatt Securities Cuts ANSYS (NASDAQ:ANSS) Price Target to $335.00

ANSYS (NASDAQ:ANSS) had its price target lowered by Rosenblatt Securities from $345.00 to $335.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

ANSS has been the subject of a number of other reports. StockNews.com began coverage on shares of ANSYS in a report on Monday, August 5th. They issued a hold rating for the company. KeyCorp began coverage on shares of ANSYS in a report on Thursday, June 27th. They set a sector weight rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $318.33.

ANSYS Stock Up 0.7 %

NASDAQ:ANSS traded up $2.09 during trading hours on Tuesday, hitting $311.15. 369,793 shares of the stock traded hands, compared to its average volume of 587,542. The firm has a 50 day moving average price of $319.64 and a 200 day moving average price of $328.67. The company has a current ratio of 2.95, a quick ratio of 2.80 and a debt-to-equity ratio of 0.13. ANSYS has a fifty-two week low of $258.01 and a fifty-two week high of $364.31. The firm has a market cap of $27.16 billion, a price-to-earnings ratio of 62.48, a PEG ratio of 6.90 and a beta of 1.11.

ANSYS (NASDAQ:ANSS) last announced its earnings results on Wednesday, July 31st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.58. ANSYS had a net margin of 21.30% and a return on equity of 11.51%. The company had revenue of $594.14 million for the quarter, compared to the consensus estimate of $550.30 million. During the same period in the previous year, the business earned $1.06 EPS. The company’s revenue was up 19.6% on a year-over-year basis. Equities research analysts anticipate that ANSYS will post 7.05 earnings per share for the current year.

Insider Activity at ANSYS

In related news, Director Glenda Dorchak sold 159 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $330.81, for a total value of $52,598.79. Following the completion of the sale, the director now owns 3,782 shares in the company, valued at $1,251,123.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ANSS. Bradley Foster & Sargent Inc. CT increased its holdings in shares of ANSYS by 20.6% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 29,791 shares of the software maker’s stock worth $9,578,000 after buying an additional 5,082 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of ANSYS by 1,461.2% during the second quarter. Quantbot Technologies LP now owns 17,641 shares of the software maker’s stock worth $5,672,000 after buying an additional 16,511 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ANSYS by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 211,230 shares of the software maker’s stock worth $67,913,000 after buying an additional 15,194 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new stake in shares of ANSYS during the second quarter worth approximately $32,000. Finally, Rathbones Group PLC increased its holdings in shares of ANSYS by 8.7% during the second quarter. Rathbones Group PLC now owns 225,305 shares of the software maker’s stock worth $72,436,000 after buying an additional 18,085 shares in the last quarter. Institutional investors and hedge funds own 92.39% of the company’s stock.

About ANSYS

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.