Kayne Anderson Rudnick Investment Management LLC Sells 506 Shares of ANSYS, Inc. (NASDAQ:ANSS)

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in shares of ANSYS, Inc. (NASDAQ:ANSS) by 7.9% during the fourth quarter, Holdings Channel reports. The fund owned 5,933 shares of the software maker’s stock after selling 506 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in ANSYS were worth $2,001,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Ameliora Wealth Management Ltd. purchased a new stake in shares of ANSYS in the 4th quarter valued at $27,000. Assetmark Inc. boosted its position in ANSYS by 468.2% during the fourth quarter. Assetmark Inc. now owns 125 shares of the software maker’s stock valued at $42,000 after buying an additional 103 shares during the period. Millstone Evans Group LLC bought a new position in shares of ANSYS during the fourth quarter valued at about $42,000. SBI Securities Co. Ltd. purchased a new position in shares of ANSYS in the fourth quarter worth about $47,000. Finally, Allworth Financial LP lifted its stake in shares of ANSYS by 33.7% in the 4th quarter. Allworth Financial LP now owns 258 shares of the software maker’s stock valued at $92,000 after acquiring an additional 65 shares during the last quarter. 92.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ANSS. Rosenblatt Securities raised their price target on ANSYS from $335.00 to $340.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. StockNews.com raised shares of ANSYS from a “hold” rating to a “buy” rating in a research note on Friday, April 18th.

Insider Buying and Selling

In other ANSYS news, Director Glenda Dorchak sold 200 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $300.01, for a total transaction of $60,002.00. Following the transaction, the director now owns 3,230 shares in the company, valued at approximately $969,032.30. This represents a 5.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by insiders.

ANSYS Trading Up 1.8 %

NASDAQ ANSS opened at $303.26 on Wednesday. The stock has a market cap of $26.58 billion, a P/E ratio of 46.30, a price-to-earnings-growth ratio of 3.48 and a beta of 1.20. ANSYS, Inc. has a fifty-two week low of $275.06 and a fifty-two week high of $363.03. The stock has a 50 day simple moving average of $317.67 and a two-hundred day simple moving average of $331.99. 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 released its quarterly earnings results on Wednesday, February 19th. The software maker reported $3.65 earnings per share 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 during the quarter, compared to the consensus estimate of $864.46 million. On average, analysts forecast that ANSYS, Inc. will post 8.32 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.