ANSYS, Inc. (ANSS) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of ANSYS, Inc. (NASDAQ:ANSS) from a buy rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “ANSYS is a dominant player in the high-end design simulation software market. Notably, the stock has outperformed the industry on a year-to-date basis. 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 will aid the stock to sustain momentum. Further, the ongoing restructuring and investments on product development along with sales execution are positives, in our view. However, declining perpetual license revenues will hurt top-line growth at least in the near term. Moreover, weakness in Europe and adverse foreign currency exchange rates are other major concerns.”
ANSS has been the topic of a number of other research reports. Evercore ISI reiterated a hold rating and issued a $113.00 price objective on shares of ANSYS in a research report on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) started coverage on ANSYS in a research report on Monday, July 17th. They issued a neutral rating and a $112.00 price objective on the stock. J P Morgan Chase & Co reiterated a sell rating and issued a $98.00 price objective on shares of ANSYS in a research report on Tuesday, September 19th. Barclays PLC lowered their price objective on ANSYS from $115.00 to $113.00 and set an underweight rating on the stock in a research report on Friday, September 15th. Finally, Berenberg Bank started coverage on ANSYS in a research report on Wednesday, August 23rd. They issued a hold rating and a $123.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $116.68.
ANSYS (NASDAQ ANSS) opened at 126.06 on Wednesday. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 40.51 and a beta of 1.05. ANSYS has a 52 week low of $82.28 and a 52 week high of $132.74. The stock has a 50 day moving average price of $125.82 and a 200 day moving average price of $120.82.
ANSYS (NASDAQ:ANSS) last issued its quarterly earnings data on Wednesday, August 2nd. The software maker reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.07. ANSYS had a return on equity of 13.87% and a net margin of 26.37%. The company had revenue of $264.30 million for the quarter, compared to the consensus estimate of $259.75 million. During the same quarter last year, the business posted $0.93 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. On average, equities analysts forecast that ANSYS will post $3.87 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in ANSYS by 5,399.5% during the first quarter. BlackRock Inc. now owns 9,118,117 shares of the software maker’s stock valued at $974,453,000 after purchasing an additional 8,952,318 shares in the last quarter. Vanguard Group Inc. raised its position in ANSYS by 21.8% during the second quarter. Vanguard Group Inc. now owns 8,496,114 shares of the software maker’s stock valued at $1,033,807,000 after purchasing an additional 1,520,201 shares in the last quarter. FMR LLC raised its position in ANSYS by 0.7% during the second quarter. FMR LLC now owns 6,684,365 shares of the software maker’s stock valued at $813,354,000 after purchasing an additional 45,211 shares in the last quarter. State Street Corp raised its position in ANSYS by 20.9% during the second quarter. State Street Corp now owns 3,512,429 shares of the software maker’s stock valued at $427,401,000 after purchasing an additional 607,765 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in ANSYS by 54.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,806,833 shares of the software maker’s stock valued at $299,966,000 after purchasing an additional 987,326 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.
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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