Redwood Wealth Management Group LLC Acquires New Position in ANSYS, Inc. (NASDAQ:ANSS)

Redwood Wealth Management Group LLC bought a new position in ANSYS, Inc. (NASDAQ:ANSS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 101 shares of the software maker’s stock, valued at approximately $32,000.

A number of other institutional investors have also recently made changes to their positions in ANSS. Quest Partners LLC purchased a new position in shares of ANSYS in the fourth quarter worth $29,000. DT Investment Partners LLC increased its holdings in ANSYS by 888.9% in the 2nd quarter. DT Investment Partners LLC now owns 89 shares of the software maker’s stock worth $29,000 after buying an additional 80 shares in the last quarter. DSM Capital Partners LLC purchased a new position in ANSYS in the 4th quarter worth about $34,000. Rothschild Investment LLC bought a new position in ANSYS during the 2nd quarter valued at about $38,000. Finally, Core Wealth Advisors Inc. purchased a new stake in shares of ANSYS during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ANSS shares. KeyCorp initiated coverage on shares of ANSYS in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. Rosenblatt Securities lowered their price target on ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, StockNews.com assumed coverage on ANSYS in a report on Saturday. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $318.33.

Insider Buying and Selling at ANSYS

In other news, Director Glenda Dorchak sold 159 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $330.81, for a total transaction of $52,598.79. Following the sale, the director now directly owns 3,782 shares in the company, valued at approximately $1,251,123.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

ANSYS Price Performance

Shares of ANSYS stock opened at $318.51 on Monday. The stock has a market cap of $27.81 billion, a P/E ratio of 63.96, a P/E/G ratio of 6.80 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.95 and a current ratio of 2.95. The stock’s fifty day moving average is $316.75 and its 200 day moving average is $325.63. ANSYS, Inc. has a one year low of $258.01 and a one year high of $364.31.

ANSYS (NASDAQ:ANSS) last posted its quarterly earnings data 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 firm had revenue of $594.14 million for the quarter, compared to analysts’ expectations of $550.30 million. ANSYS had a return on equity of 11.51% and a net margin of 21.30%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 EPS. Sell-side analysts anticipate that ANSYS, Inc. will post 7.32 earnings per share for the current year.

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.