Congress Asset Management Co. Trims Position in ANSYS, Inc. (NASDAQ:ANSS)

Congress Asset Management Co. decreased its position in ANSYS, Inc. (NASDAQ:ANSS) by 21.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,016 shares of the software maker’s stock after selling 800 shares during the quarter. Congress Asset Management Co.’s holdings in ANSYS were worth $961,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ANSS. Cetera Investment Advisers boosted its holdings in shares of ANSYS by 392.9% in the first quarter. Cetera Investment Advisers now owns 12,751 shares of the software maker’s stock worth $4,427,000 after buying an additional 10,164 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of ANSYS by 33.7% during the 1st quarter. Russell Investments Group Ltd. now owns 135,821 shares of the software maker’s stock valued at $47,157,000 after acquiring an additional 34,244 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of ANSYS by 3.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 110,991 shares of the software maker’s stock worth $38,499,000 after purchasing an additional 3,413 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in ANSYS by 3.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 100,816 shares of the software maker’s stock worth $33,552,000 after purchasing an additional 3,611 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in ANSYS by 594.3% during the first quarter. Illinois Municipal Retirement Fund now owns 24,850 shares of the software maker’s stock valued at $8,627,000 after purchasing an additional 21,271 shares in the last quarter. 92.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ANSYS

In other news, Director Glenda Dorchak sold 152 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $313.61, for a total transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

ANSYS Price Performance

Shares of NASDAQ:ANSS opened at $323.75 on Friday. The firm has a market cap of $28.29 billion, a price-to-earnings ratio of 57.20, a P/E/G ratio of 7.04 and a beta of 1.11. The firm has a fifty day moving average price of $320.18 and a 200 day moving average price of $321.54. ANSYS, Inc. has a fifty-two week low of $258.01 and a fifty-two week high of $364.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.95 and a current ratio of 2.95.

ANSYS (NASDAQ:ANSS) last issued 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 during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. As a group, sell-side analysts expect that ANSYS, Inc. will post 7.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ANSS. StockNews.com raised ANSYS from a “hold” rating to a “buy” rating in a research note on Tuesday. Rosenblatt Securities decreased their target price on shares of ANSYS from $345.00 to $335.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $318.33.

ANSYS Company 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.