ANSYS (ANSS) Downgraded by Zacks Investment Research
ANSYS (NASDAQ:ANSS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “ANSYS is a dominant player in the high-end design simulation software market. The company recently acquired 3DSIM. We note that ANSYS’s timely acquisitions have significantly expanded product portfolio. We believe that robust product portfolio, expanding total addressable market (due to rising complexity in manufacturing IoT related products), improving enterprise penetration, collaborations with leading vendors, and strong balance sheet are the catalysts. Notably, the stock has outperformed the industry on the past one year. However, declining perpetual license revenues will hurt top-line growth at least in the near term. Moreover, weakness in Europe remains a major concern.”
A number of other equities analysts also recently issued reports on the company. Wedbush reiterated a “neutral” rating and set a $129.19 price target (up previously from $114.00) on shares of ANSYS in a research note on Friday, September 15th. Barclays cut their price target on ANSYS from $115.00 to $113.00 and set an “underweight” rating for the company in a research note on Friday, September 15th. Citigroup lifted their price target on ANSYS from $125.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Royal Bank of Canada reiterated a “hold” rating and set a $118.00 price target on shares of ANSYS in a research note on Monday, September 11th. Finally, Evercore ISI reiterated a “hold” rating and set a $113.00 price target on shares of ANSYS in a research note on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. ANSYS has a consensus rating of “Hold” and an average target price of $128.91.
Shares of ANSYS (NASDAQ ANSS) traded down $0.06 during trading on Tuesday, reaching $147.59. The company had a trading volume of 372,400 shares, compared to its average volume of 541,822. ANSYS has a twelve month low of $91.89 and a twelve month high of $155.14. The company has a market cap of $12,524.56, a price-to-earnings ratio of 46.41 and a beta of 1.07.
ANSYS (NASDAQ:ANSS) last released its quarterly earnings results on Wednesday, November 1st. The software maker reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. The business had revenue of $276.77 million during the quarter, compared to the consensus estimate of $263.77 million. ANSYS had a return on equity of 13.67% and a net margin of 26.01%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. research analysts forecast that ANSYS will post 3.57 EPS for the current year.
In related news, VP Shane Emswiler sold 12,504 shares of ANSYS stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $151.96, for a total value of $1,900,107.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Barbara Vaughn Scherer sold 1,000 shares of ANSYS stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $150.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. Insiders sold a total of 18,504 shares of company stock worth $2,808,608 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Atlantic Trust Group LLC raised its holdings in shares of ANSYS by 7.5% in the 3rd quarter. Atlantic Trust Group LLC now owns 109,301 shares of the software maker’s stock worth $13,414,000 after purchasing an additional 7,579 shares during the period. Cambridge Financial Group Inc. bought a new stake in ANSYS during the 3rd quarter valued at $6,316,000. California Public Employees Retirement System raised its holdings in ANSYS by 5.9% during the 3rd quarter. California Public Employees Retirement System now owns 225,651 shares of the software maker’s stock valued at $27,694,000 after acquiring an additional 12,551 shares during the period. Janney Montgomery Scott LLC raised its holdings in ANSYS by 2.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 13,884 shares of the software maker’s stock valued at $1,704,000 after acquiring an additional 356 shares during the period. Finally, Janney Capital Management LLC bought a new stake in ANSYS during the 3rd quarter valued at $10,038,000. 96.67% of the stock is currently owned by institutional investors.
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ANSYS Company Profile
ANSYS, Inc (ANSYS) develops and markets engineering simulation software and services used by engineers, designers, researchers and students across a range of industries and academia, including aerospace and defense, automotive, industrial equipment, electronics, biomedical, energy, materials and chemical processing, and semiconductors.
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