Pitcairn Co. Boosts Position in Ansys Inc. (ANSS)
Pitcairn Co. raised its stake in shares of Ansys Inc. (NASDAQ:ANSS) by 9.3% during the second quarter, Holdings Channel reports. The institutional investor owned 16,074 shares of the company’s stock after buying an additional 1,365 shares during the period. Pitcairn Co.’s holdings in Ansys were worth $1,459,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Ansys by 6.6% in the first quarter. Geode Capital Management LLC now owns 604,864 shares of the company’s stock worth $54,087,000 after buying an additional 37,332 shares during the period. Legal & General Group Plc raised its stake in shares of Ansys by 0.9% in the first quarter. Legal & General Group Plc now owns 354,837 shares of the company’s stock worth $31,740,000 after buying an additional 3,182 shares during the period. Hartford Investment Management Co. raised its stake in shares of Ansys by 2.3% in the second quarter. Hartford Investment Management Co. now owns 2,483 shares of the company’s stock worth $225,000 after buying an additional 56 shares during the period. Trust Department MB Financial Bank N A raised its stake in shares of Ansys by 5.4% in the second quarter. Trust Department MB Financial Bank N A now owns 111,557 shares of the company’s stock worth $10,179,000 after buying an additional 5,753 shares during the period. Finally, Invictus RG purchased a new stake in shares of Ansys during the first quarter worth about $137,000. Institutional investors and hedge funds own 97.25% of the company’s stock.
Shares of Ansys Inc. (NASDAQ:ANSS) traded up 0.22% during trading on Monday, hitting $92.12. 327,693 shares of the stock were exchanged. The stock has a market cap of $8.03 billion, a price-to-earnings ratio of 31.98 and a beta of 1.01. Ansys Inc. has a 12-month low of $80.51 and a 12-month high of $98.99. The stock’s 50 day moving average is $95.07 and its 200-day moving average is $90.22.
Ansys (NASDAQ:ANSS) last released its earnings results on Thursday, August 4th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.05. Ansys had a net margin of 27.06% and a return on equity of 13.33%. The company had revenue of $246.10 million for the quarter, compared to the consensus estimate of $244.84 million. During the same period in the prior year, the company posted $0.85 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Ansys Inc. will post $3.62 EPS for the current year.
A number of analysts recently issued reports on ANSS shares. Evercore ISI restated a “buy” rating on shares of Ansys in a research report on Friday. Barclays PLC increased their price target on shares of Ansys from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Friday, August 5th. KeyCorp reaffirmed a “hold” rating on shares of Ansys in a research note on Saturday, June 4th. Zacks Investment Research raised shares of Ansys from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Wedbush reaffirmed a “neutral” rating and set a $88.00 price target on shares of Ansys in a research note on Wednesday, August 31st. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $90.71.
ANSYS, Inc develops and markets engineering simulation software and services used by engineers, designers and students across industries and academia, including aerospace and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors.
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