ANSYS (NASDAQ:ANSS) Sets New 52-Week High Following Analyst Upgrade

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ANSYS, Inc. (NASDAQ:ANSS)’s stock price reached a new 52-week high on Thursday after Wedbush raised their price target on the stock from $221.00 to $228.00. Wedbush currently has an outperform rating on the stock. ANSYS traded as high as $211.76 and last traded at $211.30, with a volume of 336832 shares. The stock had previously closed at $209.55.

A number of other equities research analysts also recently commented on the company. KeyCorp raised their target price on Ingersoll-Rand from $112.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Zacks Investment Research upgraded Gerdau from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Evercore ISI cut Cognizant Technology Solutions from an “outperform” rating to an “in-line” rating in a report on Thursday, May 2nd. BidaskClub lowered Virtu Financial from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 12th. Finally, Citigroup lowered BCE from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. ANSYS presently has an average rating of “Buy” and a consensus target price of $194.33.

In other ANSYS news, VP Matthew C. Zack sold 1,116 shares of ANSYS stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $194.80, for a total transaction of $217,396.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alec D. Gallimore sold 638 shares of ANSYS stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $185.78, for a total value of $118,527.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,519 shares of company stock valued at $656,325. Corporate insiders own 1.11% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANSS. Capital Investment Services of America Inc. lifted its stake in shares of ANSYS by 1.5% in the 2nd quarter. Capital Investment Services of America Inc. now owns 83,794 shares of the software maker’s stock valued at $17,163,000 after acquiring an additional 1,205 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in ANSYS by 6.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 16,446 shares of the software maker’s stock valued at $3,368,000 after acquiring an additional 992 shares in the last quarter. Webster Bank N. A. lifted its position in ANSYS by 7,101.9% in the 2nd quarter. Webster Bank N. A. now owns 3,889 shares of the software maker’s stock valued at $797,000 after acquiring an additional 3,835 shares in the last quarter. Zions Bancorporation N.A. lifted its position in shares of ANSYS by 4.1% during the 2nd quarter. Zions Bancorporation N.A. now owns 1,779 shares of the software maker’s stock worth $364,000 after buying an additional 70 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of ANSYS by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 39,141 shares of the software maker’s stock worth $8,017,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $17.73 billion, a P/E ratio of 40.74 and a beta of 1.41. The firm has a fifty day moving average of $196.66.

ANSYS (NASDAQ:ANSS) last released its quarterly earnings results on Wednesday, May 1st. The software maker reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. The firm had revenue of $319.91 million during the quarter, compared to analyst estimates of $306.17 million. ANSYS had a net margin of 31.73% and a return on equity of 17.08%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 EPS. Equities research analysts expect that ANSYS, Inc. will post 5.07 earnings per share for the current fiscal year.

ANSYS Company Profile (NASDAQ:ANSS)

ANSYS, Inc develops and markets engineering simulation software and services worldwide. The company offers ANSYS Workbench, a framework upon which the company's engineering simulation technologies are built; ANSYS multiphysics software to simulate the interactions between structures, heat transfer, fluids, and electronics in a unified engineering simulation environment; and structural analysis product suite that provides simulation tools for product design and optimization.

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