Allstate Corp Makes New Investment in ANSYS, Inc. (NASDAQ:ANSS)

Allstate Corp acquired a new stake in shares of ANSYS, Inc. (NASDAQ:ANSS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,582 shares of the software maker’s stock, valued at approximately $871,000.

Several other large investors have also modified their holdings of ANSS. Norges Bank purchased a new stake in shares of ANSYS during the fourth quarter valued at $615,566,000. Proficio Capital Partners LLC acquired a new stake in ANSYS during the 4th quarter worth about $119,140,000. State Street Corp lifted its stake in ANSYS by 3.0% during the third quarter. State Street Corp now owns 3,703,249 shares of the software maker’s stock valued at $1,179,966,000 after buying an additional 106,187 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of ANSYS by 34.9% in the third quarter. JPMorgan Chase & Co. now owns 386,708 shares of the software maker’s stock worth $123,217,000 after buying an additional 100,042 shares during the period. Finally, Broad Peak Investment Advisers Pte Ltd increased its position in shares of ANSYS by 99.4% in the fourth quarter. Broad Peak Investment Advisers Pte Ltd now owns 182,573 shares of the software maker’s stock worth $61,587,000 after acquiring an additional 91,000 shares in the last quarter. 92.39% of the stock is owned by institutional investors.

ANSYS Stock Performance

ANSS stock opened at $316.56 on Tuesday. The firm has a 50 day simple moving average of $334.45 and a 200 day simple moving average of $334.44. ANSYS, Inc. has a 52 week low of $289.82 and a 52 week high of $363.03. The stock has a market cap of $27.75 billion, a P/E ratio of 48.33, a P/E/G ratio of 3.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.01 and a current ratio of 3.01.

ANSYS (NASDAQ:ANSS) last posted its quarterly earnings results on Wednesday, February 19th. The software maker reported $3.65 EPS for the quarter, missing the consensus estimate of $3.97 by ($0.32). ANSYS had a net margin of 22.62% and a return on equity of 12.69%. The company had revenue of $882.17 million for the quarter, compared to analysts’ expectations of $864.46 million. Research analysts anticipate that ANSYS, Inc. will post 8.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ANSS. Rosenblatt Securities upped their price target on shares of ANSYS from $335.00 to $340.00 and gave the company a “neutral” rating in a research report on Friday, February 21st. StockNews.com cut ANSYS from a “buy” rating to a “hold” rating in a research report on Friday, March 21st.

Insiders Place Their Bets

In related news, Director Glenda Dorchak sold 200 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $336.62, for a total value of $67,324.00. Following the completion of the sale, the director now owns 3,430 shares of the company’s stock, valued at approximately $1,154,606.60. The trade was a 5.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

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.